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Segment Information (Tables)

9 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Schedule of Key Performance Information of Reportable Segments

The following table presents the key performance information of the Company’s reportable segments (in millions):

			Three Months Ended												Nine Months Ended
			December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022
Total revenue:
Versace			$	227					$	249					$	766					$	832
Jimmy Choo			166						168						481						482
Michael Kors			1,034						1,095						2,700						2,970
Total revenue			$	1,427					$	1,512					$	3,947					$	4,284
Income (loss) from operations:
Versace			$	(14)					$	24					$	24					$	138
Jimmy Choo			4						18						11						45
Michael Kors			219						251						518						721
Total segment income from operations			209						293						553						904
Less: Corporate expenses			(68)						(56)						(210)						(171)
Impairment of assets (1)			(6)						(1)						(26)						(12)
Merger related costs			(8)						—						(12)						—
Restructuring and other expense			(5)						(5)						(3)						(11)
COVID-19 related expenses			—						2						—						6
Impact of war in Ukraine			—						3						—						3
Total income from operations			$	122					$	236					$	302					$	719

(1)Impairment of assets during the three and nine months ended December 30, 2023 primarily relate to operating lease right-of-use assets at certain Versace and Michael Kors store locations. Impairment of assets during the nine months ended December 31, 2022 primarily relate to operating lease right-of-use assets at certain Michael Kors store locations.

Schedule of Depreciation and Amortization Expense for Each Segment

Depreciation and amortization expense for each segment are as follows (in millions):

			Three Months Ended												Nine Months Ended
			December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022
Depreciation and amortization:
Versace			$	14					$	12					$	40					$	36
Jimmy Choo			7						7						22						21
Michael Kors			20						22						61						70
Corporate			5						2						16						4
Total depreciation and amortization			$	46					$	43					$	139					$	131

Schedule of Total Revenue (as Recognized Based on Country of Origin)

Total revenue (based on country of origin) by geographic location are as follows (in millions):

			Three Months Ended												Nine Months Ended
			December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022
Revenue:
The Americas (United States, Canada and Latin America) (1)			$	843					$	916					$	2,165					$	2,516
EMEA			376						395						1,149						1,159
Asia			208						201						633						609
Total revenue			$	1,427					$	1,512					$	3,947					$	4,284

(1)Total revenue earned in the U.S. was $764 million and $1.959 billion, respectively, for the three and nine months ended December 30, 2023. Total revenue earned in the U.S. was $840 million and $2.312 billion, respectively, for the three and nine months ended December 31, 2022.

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