Tapestry (TPR) 10-Q 9 Nov 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Oct. 01, 2016	Oct. 28, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 1, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	COH
Entity Registrant Name	COACH INC
Entity Central Index Key	1,116,132
Current Fiscal Year End Date	--07-01
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		280,365,188

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Current Assets:
Cash and cash equivalents	$ 1,000	$ 859
Short-term investments	533.2	460.4
Trade accounts receivable, less allowances of $2.2 and $2.2, respectively	245.1	245.2
Inventories	546.8	459.2
Prepaid expenses	66.1	58
Other current assets	114	91.1
Total current assets	2,505.2	2,172.9
Property and equipment, net	774.6	919.5
Long-term investments	74.4	558.6
Goodwill	505.9	502.4
Intangible assets	345.1	346.8
Deferred income taxes	248.8	248.8
Other assets	130.6	143.7
Total assets	4,584.6	4,892.7
Current Liabilities:
Accounts payable	173.5	186.7
Accrued liabilities	523.7	625
Current debt	0	15
Total current liabilities	697.2	826.7
Long-term debt	591.4	861.2
Other liabilities	567.5	521.9
Total liabilities	1,856.1	2,209.8
Commitments and contingencies
Stockholders' Equity:
Preferred stock: (authorized 25.0 million shares; $0.01 par value per share) none issued	0	0
Common stock: (authorized 1,000.0 million shares; $0.01 par value per share) issued and outstanding 280.3 million and 278.5 million shares, respectively	2.8	2.8
Additional paid-in-capital	2,874.6	2,857.1
Accumulated deficit	(81.3)	(104.1)
Accumulated other comprehensive loss	(67.6)	(72.9)
Total stockholders' equity	2,728.5	2,682.9
Total liabilities and stockholders' equity	$ 4,584.6	$ 4,892.7

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 2.2	$ 2.2
Preferred stock, authorized (shares)	25,000,000	25,000,000
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, issued (shares)	0	0
Common stock, authorized (shares)	1,000,000,000	1,000,000,000
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, issued (shares)	280,300,000	278,500,000
Common stock, outstanding (shares)	280,300,000	278,500,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Income Statement [Abstract]
Net sales	$ 1,037.6	$ 1,030.3
Cost of sales	322.9	333.8
Gross profit	714.7	696.5
Selling, general and administrative expenses	548.8	555.1
Operating income	165.9	141.4
Interest expense, net	5.7	6.7
Income before provision for income taxes	160.2	134.7
Provision for income taxes	42.8	38.3
Net income	$ 117.4	$ 96.4
Net income per share:
Basic (USD per share)	$ 0.42	$ 0.35
Diluted (USD per share)	$ 0.42	$ 0.35
Shares used in computing net income per share:
Basic (shares)	279.5	277.1
Diluted (shares)	281.9	278.3
Cash dividends declared per common share (USD per share)	$ 0.3375	$ 0.3375

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 117.4	$ 96.4
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on cash flow hedging derivatives, net	2.9	(3.3)
Unrealized (losses) on available-for-sale investments, net	(0.5)	(0.5)
Foreign currency translation adjustments	2.9	(21.6)
Other comprehensive income (loss), net of tax	5.3	(25.4)
Comprehensive income	$ 122.7	$ 71

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
CASH FLOWS (USED IN) PROVIDED BY OPERATING ACTIVITIES
Net income	$ 117.4	$ 96.4
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	52.3	54.4
Provision for bad debt	0	(0.3)
Share-based compensation	16	22.9
Excess tax effect from share-based compensation	(0.4)	8.2
Restructuring activities	3	5.4
Deferred income taxes	4.8	20.2
Other non-cash charges, net	3.4	(4.6)
Changes in operating assets and liabilities:
Trade accounts receivable	0.6	(29.3)
Inventories	(86.1)	(95.5)
Accounts payable	(8)	(7)
Accrued liabilities	(114.3)	(65)
Other liabilities	(13.9)	(17)
Other balance sheet changes, net	(12.9)	19.2
Net cash (used in) provided by operating activities	(38.1)	8
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES
Hudson Yards sale of investments	680.6	0
Purchases of investments	(204.2)	(205.6)
Proceeds from maturities and sales of investments	153.6	106.1
Purchases of property and equipment	(67.6)	(69.5)
Acquisition of lease rights	(6.8)	0
Acquisition of lease rights	0	(51.4)
Net cash provided by (used in) investing activities	555.6	(220.4)
CASH FLOWS (USED IN) FINANCING ACTIVITIES
Dividend payments	(94)	(93.3)
Repayment of debt	(285)	0
Proceeds from share-based awards	20.7	2.9
Taxes paid to net settle share-based awards	(19.5)	(12.1)
Excess tax effect from share-based compensation	0.4	(8.2)
Net cash (used in) financing activities	(377.4)	(110.7)
Effect of exchange rate changes on cash and cash equivalents	0.9	(2.7)
Increase (decrease) in cash and cash equivalents	141	(325.8)
Cash and cash equivalents at beginning of period	859	1,291.8
Cash and cash equivalents at end of period	1,000	966
Supplemental information:
Cash paid for income taxes, net	75.1	1.9
Cash paid for interest	13.2	1.2
Noncash investing activity - property and equipment obligations	$ 52.4	$ 41.4

Nature of Operations

Nature of Operations	3 Months Ended
	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Coach, Inc. (the "Company") is a leading New York design house of modern luxury accessories and lifestyle brands. The Company’s primary product offerings, manufactured by third-party suppliers, include women’s and men’s bags, small leather goods, footwear, business cases, ready-to-wear including outerwear, watches, weekend and travel accessories, scarves, sunwear, fragrance, jewelry, travel bags and other lifestyle products. Coach branded products are primarily sold through its North America and International reportable segments. The North America segment includes sales to North American consumers through Coach-operated stores (including the Internet), and sales to wholesale customers and distributors. The International segment includes sales to consumers through Coach-branded stores and concession shop-in-shops in Japan, mainland China, Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Austria, Belgium, the Netherlands and Switzerland. Additionally, International includes sales to consumers through the Internet in Japan, mainland China, the United Kingdom and South Korea, as well as sales to wholesale customers and distributors in approximately 55 countries. The Stuart Weitzman segment includes worldwide sales generated by the Stuart Weitzman brand, primarily through department stores in North America and international locations, within numerous independent third party distributors and within Stuart Weitzman operated stores (including the Internet) in the United States, Canada and Europe. The Company also records sales of Coach brand products generated in licensing and disposition channels.

Basis of Presentation and Organ

Basis of Presentation and Organization	3 Months Ended
	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Organization	Basis of Presentation and Organization Interim Financial Statements These interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and are unaudited. In the opinion of management, such condensed consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position, income, comprehensive income and cash flows of the Company for the interim periods presented. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP") have been condensed or omitted from this report as is permitted by the SEC's rules and regulations. However, the Company believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. This report should be read in conjunction with the audited consolidated financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended July 2, 2016. The results of operations, cash flows and comprehensive income for the three months ended October 1, 2016 are not necessarily indicative of results to be expected for the entire fiscal year, which will end on July 1, 2017 ("fiscal 2017 "). Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2017 will be a 52-week period. Fiscal 2016 ended on July 2, 2016 and was a 53-week period ("fiscal 2016 "). The first quarter of fiscal 2017 ended on October 1, 2016 and was a 13-week period. The first quarter of fiscal 2016 ended on September 26, 2015 and was also a 13-week period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could differ from estimates in amounts that may be material to the financial statements. Significant estimates inherent in the preparation of the condensed consolidated financial statements include reserves for the realizability of inventory; customer returns, end-of-season markdowns and operational chargebacks; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes and related uncertain tax positions; the valuation of stock-based compensation awards and related estimated forfeiture rates; reserves for restructuring; and accounting for business combinations, amongst others. Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Oct. 01, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In August 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-15, "Classification of Certain Cash Receipts and Cash Payments (Topic 230)," which provides guidance about the classification of certain cash receipts and payments within the statement of cash flows, including debt prepayment or extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims and policies, and distributions received from equity method investments. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, which for the Company is the first quarter of fiscal 2019. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements or notes thereto. In March 2016, the FASB issued ASU No. 2016-09, " Improvements to Employee Share-Based Payment Accounting (Topic 718), " which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. Most notably, the Company will be required to recognize all excess tax benefits and shortfalls as income tax expense or benefit in the income statement within the reporting period in which they occur. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods, which for the Company is the first quarter of fiscal 2018. Early adoption is permitted. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto. In February 2016, the FASB issued ASU No. 2016-02, " Leases (Topic 842), " which is intended to increase transparency and comparability among companies that enter into leasing arrangements. This ASU requires recognition of lease assets and lease liabilities on the balance sheet for nearly all leases (other than short-term leases), as well as a retrospective recognition and measurement of existing impacted leases. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2020. Early adoption is permitted. The new standard is required to be applied with a modified retrospective approach to each prior reporting period with various optional practical expedients. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto, however it does anticipate that the new guidance will have a significant impact on its consolidated financial statements given its portfolio of lease arrangements. This guidance is not expected, however, to have a material impact on the Company's liquidity. In January 2016, the FASB issued ASU No. 2016-01, " Recognition and Measurement of Financial Assets and Financial Liabilities. " Under the ASU, equity investments not accounted for under the equity method of accounting or consolidation accounting must be measured at fair value with changes in fair value recognized in net income. The ASU also requires public entities to use the exit price notion when measuring fair value for disclosure. Financial assets and liabilities must be presented separately by measurement category and form on the balance sheet or within the notes to the financial statements. Additionally, public entities no longer have to disclose the methods and assumptions used to estimate fair value for assets measured at amortized cost. The requirements of the new standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, which for the Company is the first quarter of fiscal 2019. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements or notes thereto. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers ," which provides a single, comprehensive revenue recognition model for all contracts with customers, and contains principles to determine the measurement of revenue and timing of when it is recognized. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2019. Early adoption will be permitted for annual reporting periods beginning after December 15, 2016, including interim periods within those annual periods. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto.

Restructuring Activities

Restructuring Activities	3 Months Ended
	Oct. 01, 2016
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities Operational Efficiency Plan On April 26, 2016, the Company announced a plan (the “Operational Efficiency Plan”) to enhance organizational efficiency, update core technology platforms, and streamline its supply chain network. The Operational Efficiency Plan was adopted as a result of a strategic review of the Company’s corporate structure which focused on creating an agile and scalable business model. During the three months ended October 1, 2016 , the Company incurred operational efficiency related charges within selling, general and administrative ("SG&A") expenses of $7.1 million ( $5.6 million after-tax, or $0.02 per diluted share), primarily due to organizational efficiency costs and, to a lesser extent, network optimization costs. Total cumulative charges incurred under the Operational Efficiency Plan to date are $51.0 million . Additional actions under our Operational Efficiency Plan will continue through fiscal 2017, with expected incremental charges estimated between $20 million to $35 million . A summary of charges and related liabilities under the Company's Operational Efficiency Plan are as follows: Organizational Efficiency (1) Technology Infrastructure (2) Network Optimization (3) Total (millions) Liability as of July 2, 2016 $ 22.2 $ — $ 3.2 $ 25.4 Fiscal 2017 charges 6.3 0.1 0.7 7.1 Cash payments (9.8 ) (0.1 ) (3.2 ) (13.1 ) Non-cash charges (2.3 ) — (0.7 ) (3.0 ) Liability as of October 1, 2016 $ 16.4 $ — $ — $ 16.4 (1) Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of corporate employees, consulting fees related to process and organizational optimization and accelerated depreciation associated with the retirement of information technology systems. (2) Technology infrastructure costs, recorded within SG&A expenses, related to the initial costs of replacing and updating the Company’s core technology platforms. (3) Network optimization costs, recorded within SG&A expenses, related to lease termination costs. The balance as of October 1, 2016 is included within Accrued liabilities on the Company's Consolidated Balance Sheets. The above charges were recorded as corporate unallocated expenses within the Company's Consolidated Statements of Income. See Note 13, "Segment Information," for further information. Transformation Plan During the fourth quarter of fiscal year ended June 28, 2014 ("fiscal 2014"), the Company announced a multi-year strategic plan to transform the Coach brand and reinvigorate growth. This multi-faceted, multi-year transformation plan (the "Transformation Plan"), which continued through the end of fiscal 2016, included key operational and cost measures. Refer to Note 3 of our Annual Report on Form 10-K for the fiscal year ended July 2, 2016 for additional information about the Transformation Plan. Total cumulative charges incurred under the Transformation Plan through July 2, 2016 were $321.5 million . The fourth quarter of fiscal 2016 was the last reporting period in which charges were incurred under this plan. During the three months ended September 26, 2015 , the Company incurred transformation-related charges within SG&A expenses of $12.6 million ( $8.5 million after-tax, or $0.03 per diluted share), primarily due to organizational efficiency costs and accelerated depreciation as a result of store renovations, within North America and select International stores. A summary of liabilities under the Company's Transformation Plan are as follows: Organizational Efficiency (1) Total (millions) Liability as of July 2, 2016 $ 5.5 $ 5.5 Cash payments (3.8 ) (3.8 ) Liability as of October 1, 2016 $ 1.7 $ 1.7 (1) Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of employees. The remaining balance as of October 1, 2016 and July 2, 2016 is included within Accrued liabilities on the Company's Condensed Consolidated Balance Sheets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Oct. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The change in the carrying amount of the Company’s goodwill is as follows: International Stuart Weitzman Total (millions) Balance at July 2, 2016 $ 346.9 $ 155.5 $ 502.4 Foreign exchange impact 3.8 (0.3 ) 3.5 Balance at October 1, 2016 $ 350.7 $ 155.2 $ 505.9 Other Intangible Assets Other intangible assets consist of the following: October 1, 2016 July 2, 2016 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 54.7 $ (6.9 ) $ 47.8 $ 54.7 $ (5.8 ) $ 48.9 Favorable lease rights, net 24.7 (4.2 ) 20.5 24.7 (3.6 ) 21.1 Total intangible assets subject to amortization 79.4 (11.1 ) 68.3 79.4 (9.4 ) 70.0 Intangible assets not subject to amortization: Trademarks and trade names 276.8 — 276.8 276.8 — 276.8 Total intangible assets $ 356.2 $ (11.1 ) $ 345.1 $ 356.2 $ (9.4 ) $ 346.8 Amortization Based on the balance of the Company's intangible assets subject to amortization as of October 1, 2016 , the expected amortization expense for each of the next five fiscal years and thereafter is as follows: Amortization Expense (millions) Remainder of Fiscal 2017 $ 5.3 Fiscal 2018 6.6 Fiscal 2019 6.5 Fiscal 2020 6.2 Fiscal 2021 6.0 Fiscal 2022 5.4 Fiscal 2023 and thereafter 32.3 Total $ 68.3 The expected future amortization expense above reflects remaining useful lives of 13.6 years for customer relationships and the remaining lease terms ranging from approximately 6 months to 9 years for favorable lease rights.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Oct. 01, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity A reconciliation of stockholders' equity is presented below: Shares of Common Stock Common Stock Additional Paid-in- Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total Stockholders' Equity (millions, except per share data) Balance at June 27, 2015 276.6 $ 2.8 $ 2,754.4 $ (189.6 ) $ (77.7 ) $ 2,489.9 Net income — — — 96.4 — 96.4 Other comprehensive loss — — — — (25.4 ) (25.4 ) Shares issued for stock options and employee benefit plans 0.9 — (8.5 ) — — (8.5 ) Share-based compensation — — 22.9 — — 22.9 Excess tax effect from share-based compensation — — (8.2 ) — — (8.2 ) Dividends declared ($0.3375 per share) — — — (93.6 ) — (93.6 ) Balance at September 26, 2015 277.5 $ 2.8 $ 2,760.6 $ (186.8 ) $ (103.1 ) $ 2,473.5 Balance at July 2, 2016 278.5 $ 2.8 $ 2,857.1 $ (104.1 ) $ (72.9 ) $ 2,682.9 Net income — — — 117.4 — 117.4 Other comprehensive income — — — — 5.3 5.3 Shares issued for stock options and employee benefit plans 1.8 — 1.1 — — 1.1 Share-based compensation — — 16.0 — — 16.0 Excess tax effect from share-based compensation — — 0.4 — — 0.4 Dividends declared ($0.3375 per share) — — — (94.6 ) — (94.6 ) Balance at October 1, 2016 280.3 $ 2.8 $ 2,874.6 $ (81.3 ) $ (67.6 ) $ 2,728.5 The components of accumulated other comprehensive loss ("AOCI"), as of the dates indicated, are as follows: Unrealized Gains (Losses) on Cash Flow Hedges (1) Unrealized Losses on Available- for-Sale Debt Securities Cumulative Translation Adjustment Other (2) Total (millions) Balances at June 27, 2015 $ 4.4 $ 0.5 $ (81.7 ) $ (0.9 ) $ (77.7 ) Other comprehensive (loss) before reclassifications (0.9 ) (0.5 ) (21.6 ) — (23.0 ) Less: gains reclassified from accumulated other comprehensive income to earnings 2.4 — — — 2.4 Net current-period other comprehensive (loss) (3.3 ) (0.5 ) (21.6 ) — (25.4 ) Balances at September 26, 2015 $ 1.1 $ — $ (103.3 ) $ (0.9 ) $ (103.1 ) Balances at July 2, 2016 $ (8.8 ) $ 0.3 $ (62.9 ) $ (1.5 ) $ (72.9 ) Other comprehensive income (loss) before reclassifications 0.1 (0.5 ) 2.9 — 2.5 Less: (losses) reclassified from accumulated other comprehensive income to earnings (2.8 ) — — — (2.8 ) Net current-period other comprehensive income (loss) 2.9 (0.5 ) 2.9 — 5.3 Balances at October 1, 2016 $ (5.9 ) $ (0.2 ) $ (60.0 ) $ (1.5 ) $ (67.6 ) (1) The ending balances of AOCI related to cash flow hedges are net of tax of $3.0 million and ($0.8) million as of October 1, 2016 and September 26, 2015 , respectively. The amounts reclassified from AOCI are net of tax of $1.4 million and ($1.2) million as of October 1, 2016 and September 26, 2015 , respectively. (2) As of October 1, 2016 and September 26, 2015 , Other represents the accumulated loss on the Company's minimum pension liability adjustment. The balances at October 1, 2016 and September 26, 2015 are net of tax of $0.8 million and $0.5 million, respectively.

Earnings per Share

Earnings per Share	3 Months Ended
	Oct. 01, 2016
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic net income per share is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net income per share is calculated similarly but includes potential dilution from the exercise of stock options and restricted stock units and any other potentially dilutive instruments, only in the periods in which such effects are dilutive under the treasury stock method. The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share: Three Months Ended October 1, September 26, (millions, except per share data) Net income $ 117.4 $ 96.4 Total weighted-average basic shares outstanding 279.5 277.1 Dilutive securities: Effect of dilutive securities 2.4 1.2 Total weighted-average diluted shares 281.9 278.3 Net income per share: Basic $ 0.42 $ 0.35 Diluted $ 0.42 $ 0.35 Earnings per share amounts have been calculated based on unrounded numbers. Options to purchase shares of the Company's common stock at an exercise price greater than the average market price of the common stock during the reporting period are anti-dilutive and therefore not included in the computation of diluted net income per common share. In addition, the Company has outstanding restricted stock unit awards that are issuable only upon the achievement of certain performance goals. Performance-based restricted stock unit awards are included in the computation of diluted shares only to the extent that the underlying performance conditions (and any applicable market condition modifiers) (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive under the treasury stock method. As of October 1, 2016 and September 26, 2015 , there were approximately 9.1 million and 15.8 million , respectively, of additional shares issuable upon exercise of anti-dilutive options and contingent vesting of performance-based restricted stock unit awards, which were excluded from the diluted share calculations.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Oct. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	Share-based Compensation The following table shows the total compensation cost charged against income for share based compensation plans and the related tax benefits recognized in the condensed consolidated statements of income for the periods indicated: Three Months Ended October 1, September 26, 2015 (1) (millions) Share-based compensation expense $ 16.0 $ 22.9 Income tax benefit related to share-based compensation expense 4.7 6.9 Stock Options A summary of stock option activity during the three months ended October 1, 2016 is as follows: Number of Options Outstanding Weighted-Average Exercise Price per Option (millions) Outstanding at July 2, 2016 15.1 $ 40.18 Granted 3.2 39.86 Exercised (0.7 ) 40.76 Forfeited or expired (0.6 ) 40.44 Outstanding at October 1, 2016 17.0 40.09 Vested and expected to vest at October 1, 2016 16.4 41.98 Exercisable at October 1, 2016 10.1 43.69 At October 1, 2016 , $35.9 million of total unrecognized compensation cost related to non-vested stock option awards is expected to be recognized over a weighted-average period of 1.3 years. The weighted-average grant-date fair value of options granted during the three months ended October 1, 2016 and September 26, 2015 was $7.29 and $5.60 , respectively. The total intrinsic value of options exercised during the three months ended October 1, 2016 and September 26, 2015 was $5.7 million and $0.1 million, respectively. The total cash received from option exercises was $20.7 million for the three months ended October 1, 2016 and $2.5 million for the three months ended September 26, 2015 , and the cash tax benefit realized for the tax deductions from these option exercises was approximately $2.1 million and $0.1 million, respectively. Service-based Restricted Stock Unit Awards ("RSUs") A summary of service-based RSU activity during the three months ended October 1, 2016 is as follows: Number of Non-vested RSUs Weighted- Average Grant- Date Fair Value per RSU (millions) Non-vested at July 2, 2016 3.7 $ 49.06 Granted 1.7 39.88 Vested (1.6 ) 39.24 Forfeited (0.2 ) 33.63 Non-vested at October 1, 2016 3.6 49.89 At October 1, 2016 , $90.4 million of total unrecognized compensation cost related to non-vested share awards is expected to be recognized over a weighted-average period of 1.3 years. The weighted-average grant-date fair value of share awards granted during the three months ended October 1, 2016 and September 26, 2015 was $39.88 and $31.51 , respectively. The total fair value of shares vested during the three months ended October 1, 2016 and September 26, 2015 was $62.1 million and $36.1 million, respectively. Performance-based Restricted Stock Unit Awards ("PRSUs") A summary of PRSU activity during the three months ended October 1, 2016 is as follows: Number of Non-vested PRSUs Weighted- Average Grant- Date Fair Value per PRSU (millions) Non-vested at July 2, 2016 1.4 $ 38.67 Granted 0.3 39.92 Change due to performance condition achievement (0.1 ) 53.19 Vested (1) — 39.72 Forfeited (0.1 ) 40.63 Non-vested at October 1, 2016 1.5 37.83 (1) During the first three months ended October 1, 2016 , less than 0.1 million PRSU shares vested. At October 1, 2016 , $18.2 million of total unrecognized compensation cost related to non-vested PRSU awards is expected to be recognized over a weighted-average period of 1.2 years. Included in the non-vested amount at October 1, 2016 are approximately 0.6 million PRSU awards that are based on performance criteria which compares the Company's total stockholder return over the performance period to the total stockholder return of the companies included in the Standard and Poor's 500 Index. There were no awards granted during the three months ended October 1, 2016 with this performance criteria. The remaining 0.9 million PRSU awards included in the non-vested amount are based on certain Company-specific productivity, strategic and sales metrics. The weighted-average grant-date fair value per share of PRSU awards granted during the three months ended October 1, 2016 and September 26, 2015 was $39.92 and $31.56 , respectively. The total fair value of awards that vested during the three months ended October 1, 2016 and September 26, 2015 was $0.9 million and $0.9 million, respectively. In the three months ended October 1, 2016 and September 26, 2015 , the cash tax benefit realized for the tax deductions from all RSUs (service and performance-based) was $18.3 million and $11.4 million, respectively.

Debt

Debt	3 Months Ended
	Oct. 01, 2016
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the components of the Company’s outstanding debt: October 1, 2016 July 2, 2016 (millions) Current Debt: Term Loan $ — $ 15.0 Total Current Debt $ — $ 15.0 Long-Term Debt: Term Loan $ — $ 270.0 4.250% Senior Notes 600.0 600.0 Total Long-Term Debt 600.0 870.0 Less: Unamortized Discount and Debt Issuance Costs on 4.250% Senior Notes (8.6 ) (8.8 ) Total Long-Term Debt, net $ 591.4 $ 861.2 During the three months ended October 1, 2016 and September 26, 2015 , the Company recognized interest expense related to its debt of $7.4 million and $8.0 million , respectively. Amended and Restated Credit Agreement In March 2015, the Company amended and restated its existing $700.0 million revolving credit facility (the "Revolving Facility") with certain lenders and JP Morgan Chase Bank, N.A. as the administrative agent, to provide for a five -year senior unsecured $300.0 million term loan (the “Term Loan”) and to extend the maturity date to March 18, 2020 (the "Amended and Restated Credit Agreement"). As of October 1, 2016 , there were no borrowings under the Revolving Facility. The Company prepaid its outstanding borrowings under the Term Loan facility on August 3, 2016. The Revolving Facility will continue to be used for general corporate purposes of the Company and its subsidiaries. Borrowings under the Amended and Restated Credit Agreement bear interest at a rate per annum equal to, at the Company's option, either (a) a rate based on the rates applicable for deposits in the interbank market for U.S. dollars or the applicable currency in which the loans are made plus an applicable margin or (b) an alternate base rate (which is a rate equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Effective Rate in effect on such day plus ½ of 1% or (iii) the Adjusted LIBO Rate for a one month Interest Period on such day plus 1% ). Additionally, the Company pays a commitment fee on the average daily unused amount of the Revolving Facility. At October 1, 2016 , there were no borrowings on the Revolving Facility and the commitment fee was 0.150% . 4.250% Senior Notes In March 2015, the Company issued $600.0 million aggregate principal amount of 4.250% senior unsecured notes due April 1, 2025 at 99.445% of par (the “4.250% Senior Notes”). Interest is payable semi-annually on April 1 and October 1 beginning October 1, 2015. Prior to January 1, 2025 ( 90 days prior to the scheduled maturity date), the Company may redeem the 4.250% Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the 4.250% Senior Notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would have been payable in respect of the 4.250% Senior Notes calculated as if the maturity date of the 4.250% Senior Notes was January 1, 2025 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate (as defined in the indenture for the 4.250% Senior Notes) plus 35 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date. On and after January 1, 2025 ( 90 days prior to the scheduled maturity date), the Company may redeem the 4.250% Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to 100% of the principal amount of the 4.250% Senior Notes to be redeemed, plus accrued and unpaid interest to the redemption date. At October 1, 2016 and July 2, 2016 , the fair value of the 4.250% Senior Notes was approximately $632 million and $622 million , respectively, based on external pricing data, including available quoted market prices of these instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and is classified as a Level 2 measurement within the fair value hierarchy.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 01, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company categorizes its assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. The three levels of the hierarchy are defined as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices included in Level 1. Level 2 inputs include quoted prices for identical assets or liabilities in non-active markets, quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for substantially the full term of the asset or liability. Level 3 — Unobservable inputs reflecting management’s own assumptions about the input used in pricing the asset or liability. The following table shows the fair value measurements of the Company’s financial assets and liabilities at October 1, 2016 and July 2, 2016 : Level 1 Level 2 Level 3 October 1, July 2, October 1, July 2, October 1, July 2, (millions) Assets: Cash equivalents (1) $ 266.2 $ 197.9 $ 100.4 $ 0.4 $ — $ — Short-term investments : Time deposits (2) — — 0.6 0.6 — — Commercial paper (2) — — 77.8 54.8 — — Government securities - U.S. (2) 175.7 119.9 — 11.8 — — Corporate debt securities - U.S. (2) — — 152.6 161.4 — — Corporate debt securities - non U.S. (2) — — 124.7 111.5 — — Other — — 1.8 $ 0.4 — — Long-term investments : Corporate debt securities - U.S. (3) — — 52.0 64.2 — — Corporate debt securities - non U.S. (3) — — 22.4 33.9 — — Derivative Assets : Inventory-related hedges (4) — — 0.6 0.2 — — Intercompany loan hedges (4) — — — 0.4 — — Liabilities: Contingent earnout obligation $ — $ — $ — $ — $ 30.7 $ 28.4 Derivative liabilities : Inventory-related hedges (4) — — 5.2 11.0 — — Intercompany loan hedges (4) — — 0.2 0.1 — — (1) Cash equivalents consist of money market funds and time deposits with maturities of three months or less at the date of purchase. Due to their short term maturity, management believes that their carrying value approximates fair value. (2) Short-term available-for-sale investments are recorded at fair value, which approximates their carrying value, and are primarily based upon quoted vendor or broker priced securities in active markets. (3) Fair value is primarily determined using vendor or broker priced securities in active markets. These securities have maturity dates in calendar years 2017 and 2018. (4) The fair value of these hedges is primarily based on the forward curves of the specific indices upon which settlement is based and includes an adjustment for the counterparty’s or Company’s credit risk. Refer to Note 9, "Debt," for the fair value of the Company's outstanding debt instruments. The following table presents a reconciliation of the li abilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended October 1, 2016 and July 2, 2016 . Level 3 liabilities consisted of the contingent earnout obligation related to the Stuart Weitzman acquisition. October 1, 2016 July 2, 2016 (millions) Balance, beginning of period $ 28.4 $ 19.4 Increase to contingent earnout obligation 2.3 9.0 Balance, end of period $ 30.7 $ 28.4 Non-Financial Assets and Liabilities The Company’s non-financial instruments, which primarily consist of goodwill, intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, on a periodic basis whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial instruments are assessed for impairment and, if applicable, written-down to and recorded at fair value, considering market participant assumptions.

Investments

Investments	3 Months Ended
	Oct. 01, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the condensed consolidated balance sheets as of October 1, 2016 and July 2, 2016 : October 1, 2016 July 2, 2016 Short-term Long-term Total Short-term Long-term Total (millions) Available-for-sale investments: Commercial paper (1) $ 77.8 $ — $ 77.8 $ 54.8 $ — $ 54.8 Government securities - U.S. (2) 175.7 — 175.7 131.7 — 131.7 Corporate debt securities - U.S. (2) 152.6 52.0 204.6 161.4 64.2 225.6 Corporate debt securities - non-U.S. (2) 124.7 22.4 147.1 111.5 33.9 145.4 Available-for-sale investments, total $ 530.8 $ 74.4 $ 605.2 $ 459.4 $ 98.1 $ 557.5 Other: Time deposits (1) 0.6 — 0.6 0.6 — 0.6 Other (3) 1.8 — 1.8 0.4 460.5 460.9 Total Investments $ 533.2 $ 74.4 $ 607.6 $ 460.4 $ 558.6 $ 1,019.0 (1) These securities have original maturities greater than three months and are recorded at fair value. (2) The securities as of October 1, 2016 have maturity dates between calendar years 2016 and 2018 and are recorded at fair value. (3) Long-term Other as of July 2, 2016 relates to the equity method investment in an entity formed during fiscal 2013 for the purpose of developing a new office tower in Manhattan (the "Hudson Yards joint venture"), with the Company owning less than 43% of the joint venture. Refer to Note 14, "Sale of Interest and Lease Transaction," for further information. There were no material gross unrealized gains or losses on available-for-sale securities during the periods ended October 1, 2016 and July 2, 2016 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 01, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit The Company had standby letters of credit totaling $7.4 million and $7.5 million outstanding at October 1, 2016 and July 2, 2016 , respectively. The letters of credit, which expire at various dates through calendar 2017, primarily collateralize the Company's obligation to third parties for insurance claims, leases and materials used in product manufacturing. The Company pays certain fees with respect to letters of credit that are issued. Other In the ordinary course of business, the Company is a party to several pending legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company's general counsel and management are of the opinion that the final outcome will not have a material effect on the Company’s cash flow, results of operations or financial position.

Segment Information

Segment Information	3 Months Ended
	Oct. 01, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information In fiscal 2017 , the Company has three reportable segments based on its business activities and organization: • North America, which is composed of Coach brand sales to North American consumers through stores, including the Internet, and sales to wholesale customers. • International, which is composed of Coach brand sales to consumers through stores and concession shop-in-shops in Japan, mainland China, Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Austria, Belgium, the Netherlands and Switzerland. Additionally, International includes Coach brand sales to consumers through the Internet in Japan, mainland China, the United Kingdom and South Korea, as well as sales to wholesale customers and distributors in approximately 55 countries. • Stuart Weitzman, which includes worldwide sales generated by the Stuart Weitzman brand, primarily through department stores in North America and international locations, within numerous independent third party distributors and within Stuart Weitzman operated stores (including the Internet) in the United States, Canada and Europe. The following table summarizes segment performance for the three months ended October 1, 2016 and September 26, 2015 : North America International Other (1) Corporate Unallocated (2) Stuart Weitzman Total (millions) Three Months Ended October 1, 2016 Net sales $ 545.3 $ 395.5 $ 9.3 $ — $ 87.5 $ 1,037.6 Gross profit 341.2 298.1 8.1 16.2 51.1 714.7 Operating income (loss) 164.2 113.3 6.1 (122.8 ) 5.1 165.9 Income (loss) before provision for income taxes 164.2 113.3 6.1 (128.5 ) 5.1 160.2 Depreciation and amortization expense (3) 17.6 18.5 — 15.4 3.8 55.3 Additions to long-lived assets 17.1 25.3 — 16.1 9.1 67.6 Three Months Ended September 26, 2015 Net sales $ 561.0 $ 369.0 $ 12.8 $ — $ 87.5 $ 1,030.3 Gross profit 348.9 282.2 8.4 7.3 49.7 696.5 Operating income (loss) 171.7 107.2 6.1 (151.3 ) 7.7 141.4 Income (loss) before provision for income taxes 171.7 107.2 6.1 (158.0 ) 7.7 134.7 Depreciation and amortization expense (3) 15.8 16.8 — 17.1 7.5 57.2 Additions to long-lived assets 21.8 31.4 — 14.6 1.7 69.5 (1) Other, which is not a reportable segment, consists of Coach brand sales and expenses generated in licensing and disposition channels. (2) Corporate unallocated expenses include certain centrally managed Coach brand inventory-related costs (such as production variances), advertising, marketing, design, administration and information systems, as well as distribution and consumer service expenses. Furthermore, operational efficiency and transformation-related charges incurred by the Company as described in Note 4, "Restructuring Activities" and charges associated with contingent earn out payments of the May 2015 Stuart Weitzman acquisition and other integration-related activities, are also included as unallocated corporate expenses. (3) Depreciation and amortization expense includes $3.0 million of operational efficiency plan charges for the three months ended October 1, 2016 , and $2.8 million of transformation-related charges for the three months ended September 26, 2015 , respectively. These charges are recorded as corporate unallocated expenses. The following is a summary of all costs not allocated in the determination of segment operating income performance: Three Months Ended October 1, September 26, 2015 (millions) Inventory-related costs (1) $ 16.2 $ 7.3 Advertising, marketing and design (2) (55.9 ) (63.1 ) Administration and information systems (2)(3) (69.2 ) (80.3 ) Distribution and customer service (2) (13.9 ) (15.2 ) Total corporate unallocated $ (122.8 ) $ (151.3 ) (1) Inventory-related costs consist of production variances, and are recorded within cost of sales. (2) Costs recorded within SG&A expenses. (3) During the three months ended October 1, 2016 , operational efficiency charges recorded within SG&A expenses were ($7.1) million . Furthermore, during the three months ended October 1, 2016 , ($2.4) million of charges related to the Stuart Weitzman contingent earn out payments and other integration-related activities were recorded within corporate unallocated costs. During the three months ended September 26, 2015 , transformation-related costs recorded within SG&A expenses were ($12.6) million . The Company also recorded approximately ($3.6) million in acquisition-related expenses for the three months ended September 26, 2015 .

Sale of Interest and Lease Tran

Sale of Interest and Lease Transaction	3 Months Ended
	Oct. 01, 2016
Leases [Abstract]
Sale of Interest and Lease Transaction	Sale of Interest and Lease Transaction On August 1, 2016, the Company announced the sale of its investments in 10 Hudson Yards, in New York City, and the lease of its new global headquarters. The Company sold its equity investment in the Hudson Yards joint venture as well as net fixed assets related to the design and build-out of the space. The Company received a purchase price of approximately $707 million (net of approximately $77 million due to the developer of Hudson Yards) before transaction costs of $26 million , resulting in a gain of $28.8 million , which will be amortized through SG&A expenses over the lease term of 20 years, as discussed below. The Company has simultaneously entered into a 20 -year lease, accounted for as an operating lease, for the headquarters space in the building, comprised of approximately 694,000 square feet. Under the lease, the Company has the right to expand its premises to portions of the 24 th and 25 th floors of the building and has a right of first offer with respect to available space on the 26 th floor of the building. The total commitment related to this lease is approximately $1.05 billion , with minimum lease payments of $41.4 million due in fiscal 2017, $45.1 million due each year from fiscal 2018 through fiscal 2021, and $825.5 million total due for years subsequent to 2021. In addition to its fixed rent obligations, the Company is obligated to pay its percentage share for customary escalations for operating expenses attributable to the building and the Hudson Yards development, taxes and tax related payments. The Company is not obligated to pay any amount of contingent rent.

Basis of Presentation and Org21

Basis of Presentation and Organization (Policies)	3 Months Ended
	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Fiscal Periods	Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2017 will be a 52-week period. Fiscal 2016 ended on July 2, 2016 and was a 53-week period ("fiscal 2016 "). The first quarter of fiscal 2017 ended on October 1, 2016 and was a 13-week period. The first quarter of fiscal 2016 ended on September 26, 2015 and was also a 13-week period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could differ from estimates in amounts that may be material to the financial statements. Significant estimates inherent in the preparation of the condensed consolidated financial statements include reserves for the realizability of inventory; customer returns, end-of-season markdowns and operational chargebacks; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes and related uncertain tax positions; the valuation of stock-based compensation awards and related estimated forfeiture rates; reserves for restructuring; and accounting for business combinations, amongst others.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In August 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-15, "Classification of Certain Cash Receipts and Cash Payments (Topic 230)," which provides guidance about the classification of certain cash receipts and payments within the statement of cash flows, including debt prepayment or extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims and policies, and distributions received from equity method investments. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, which for the Company is the first quarter of fiscal 2019. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements or notes thereto. In March 2016, the FASB issued ASU No. 2016-09, " Improvements to Employee Share-Based Payment Accounting (Topic 718), " which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. Most notably, the Company will be required to recognize all excess tax benefits and shortfalls as income tax expense or benefit in the income statement within the reporting period in which they occur. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods, which for the Company is the first quarter of fiscal 2018. Early adoption is permitted. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto. In February 2016, the FASB issued ASU No. 2016-02, " Leases (Topic 842), " which is intended to increase transparency and comparability among companies that enter into leasing arrangements. This ASU requires recognition of lease assets and lease liabilities on the balance sheet for nearly all leases (other than short-term leases), as well as a retrospective recognition and measurement of existing impacted leases. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2020. Early adoption is permitted. The new standard is required to be applied with a modified retrospective approach to each prior reporting period with various optional practical expedients. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto, however it does anticipate that the new guidance will have a significant impact on its consolidated financial statements given its portfolio of lease arrangements. This guidance is not expected, however, to have a material impact on the Company's liquidity. In January 2016, the FASB issued ASU No. 2016-01, " Recognition and Measurement of Financial Assets and Financial Liabilities. " Under the ASU, equity investments not accounted for under the equity method of accounting or consolidation accounting must be measured at fair value with changes in fair value recognized in net income. The ASU also requires public entities to use the exit price notion when measuring fair value for disclosure. Financial assets and liabilities must be presented separately by measurement category and form on the balance sheet or within the notes to the financial statements. Additionally, public entities no longer have to disclose the methods and assumptions used to estimate fair value for assets measured at amortized cost. The requirements of the new standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, which for the Company is the first quarter of fiscal 2019. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements or notes thereto. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers ," which provides a single, comprehensive revenue recognition model for all contracts with customers, and contains principles to determine the measurement of revenue and timing of when it is recognized. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2019. Early adoption will be permitted for annual reporting periods beginning after December 15, 2016, including interim periods within those annual periods. The Company is in the process of determining the impact of the adoption of this guidance on its consolidated financial statements or notes thereto.

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Oct. 01, 2016
Restructuring and Related Activities [Abstract]
Summary of Charges and Related Liabilities Under Restructuring Plan	A summary of charges and related liabilities under the Company's Operational Efficiency Plan are as follows: Organizational Efficiency (1) Technology Infrastructure (2) Network Optimization (3) Total (millions) Liability as of July 2, 2016 $ 22.2 $ — $ 3.2 $ 25.4 Fiscal 2017 charges 6.3 0.1 0.7 7.1 Cash payments (9.8 ) (0.1 ) (3.2 ) (13.1 ) Non-cash charges (2.3 ) — (0.7 ) (3.0 ) Liability as of October 1, 2016 $ 16.4 $ — $ — $ 16.4 (1) Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of corporate employees, consulting fees related to process and organizational optimization and accelerated depreciation associated with the retirement of information technology systems. (2) Technology infrastructure costs, recorded within SG&A expenses, related to the initial costs of replacing and updating the Company’s core technology platforms. (3) Network optimization costs, recorded within SG&A expenses, related to lease termination costs. A summary of liabilities under the Company's Transformation Plan are as follows: Organizational Efficiency (1) Total (millions) Liability as of July 2, 2016 $ 5.5 $ 5.5 Cash payments (3.8 ) (3.8 ) Liability as of October 1, 2016 $ 1.7 $ 1.7 (1) Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of employees.

Goodwill and Other Intangible23

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Oct. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Change in Carrying Value of Goodwill	The change in the carrying amount of the Company’s goodwill is as follows: International Stuart Weitzman Total (millions) Balance at July 2, 2016 $ 346.9 $ 155.5 $ 502.4 Foreign exchange impact 3.8 (0.3 ) 3.5 Balance at October 1, 2016 $ 350.7 $ 155.2 $ 505.9
Schedule of Indefinite-Lived Intangible Assets	Other intangible assets consist of the following: October 1, 2016 July 2, 2016 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 54.7 $ (6.9 ) $ 47.8 $ 54.7 $ (5.8 ) $ 48.9 Favorable lease rights, net 24.7 (4.2 ) 20.5 24.7 (3.6 ) 21.1 Total intangible assets subject to amortization 79.4 (11.1 ) 68.3 79.4 (9.4 ) 70.0 Intangible assets not subject to amortization: Trademarks and trade names 276.8 — 276.8 276.8 — 276.8 Total intangible assets $ 356.2 $ (11.1 ) $ 345.1 $ 356.2 $ (9.4 ) $ 346.8
Schedule of Finite-Lived Intangible Assets	Other intangible assets consist of the following: October 1, 2016 July 2, 2016 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 54.7 $ (6.9 ) $ 47.8 $ 54.7 $ (5.8 ) $ 48.9 Favorable lease rights, net 24.7 (4.2 ) 20.5 24.7 (3.6 ) 21.1 Total intangible assets subject to amortization 79.4 (11.1 ) 68.3 79.4 (9.4 ) 70.0 Intangible assets not subject to amortization: Trademarks and trade names 276.8 — 276.8 276.8 — 276.8 Total intangible assets $ 356.2 $ (11.1 ) $ 345.1 $ 356.2 $ (9.4 ) $ 346.8
Schedule of Expected Amortization for Each of the Next Five Fiscal Years and Thereafter	Based on the balance of the Company's intangible assets subject to amortization as of October 1, 2016 , the expected amortization expense for each of the next five fiscal years and thereafter is as follows: Amortization Expense (millions) Remainder of Fiscal 2017 $ 5.3 Fiscal 2018 6.6 Fiscal 2019 6.5 Fiscal 2020 6.2 Fiscal 2021 6.0 Fiscal 2022 5.4 Fiscal 2023 and thereafter 32.3 Total $ 68.3

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Oct. 01, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	A reconciliation of stockholders' equity is presented below: Shares of Common Stock Common Stock Additional Paid-in- Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total Stockholders' Equity (millions, except per share data) Balance at June 27, 2015 276.6 $ 2.8 $ 2,754.4 $ (189.6 ) $ (77.7 ) $ 2,489.9 Net income — — — 96.4 — 96.4 Other comprehensive loss — — — — (25.4 ) (25.4 ) Shares issued for stock options and employee benefit plans 0.9 — (8.5 ) — — (8.5 ) Share-based compensation — — 22.9 — — 22.9 Excess tax effect from share-based compensation — — (8.2 ) — — (8.2 ) Dividends declared ($0.3375 per share) — — — (93.6 ) — (93.6 ) Balance at September 26, 2015 277.5 $ 2.8 $ 2,760.6 $ (186.8 ) $ (103.1 ) $ 2,473.5 Balance at July 2, 2016 278.5 $ 2.8 $ 2,857.1 $ (104.1 ) $ (72.9 ) $ 2,682.9 Net income — — — 117.4 — 117.4 Other comprehensive income — — — — 5.3 5.3 Shares issued for stock options and employee benefit plans 1.8 — 1.1 — — 1.1 Share-based compensation — — 16.0 — — 16.0 Excess tax effect from share-based compensation — — 0.4 — — 0.4 Dividends declared ($0.3375 per share) — — — (94.6 ) — (94.6 ) Balance at October 1, 2016 280.3 $ 2.8 $ 2,874.6 $ (81.3 ) $ (67.6 ) $ 2,728.5
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss ("AOCI"), as of the dates indicated, are as follows: Unrealized Gains (Losses) on Cash Flow Hedges (1) Unrealized Losses on Available- for-Sale Debt Securities Cumulative Translation Adjustment Other (2) Total (millions) Balances at June 27, 2015 $ 4.4 $ 0.5 $ (81.7 ) $ (0.9 ) $ (77.7 ) Other comprehensive (loss) before reclassifications (0.9 ) (0.5 ) (21.6 ) — (23.0 ) Less: gains reclassified from accumulated other comprehensive income to earnings 2.4 — — — 2.4 Net current-period other comprehensive (loss) (3.3 ) (0.5 ) (21.6 ) — (25.4 ) Balances at September 26, 2015 $ 1.1 $ — $ (103.3 ) $ (0.9 ) $ (103.1 ) Balances at July 2, 2016 $ (8.8 ) $ 0.3 $ (62.9 ) $ (1.5 ) $ (72.9 ) Other comprehensive income (loss) before reclassifications 0.1 (0.5 ) 2.9 — 2.5 Less: (losses) reclassified from accumulated other comprehensive income to earnings (2.8 ) — — — (2.8 ) Net current-period other comprehensive income (loss) 2.9 (0.5 ) 2.9 — 5.3 Balances at October 1, 2016 $ (5.9 ) $ (0.2 ) $ (60.0 ) $ (1.5 ) $ (67.6 ) (1) The ending balances of AOCI related to cash flow hedges are net of tax of $3.0 million and ($0.8) million as of October 1, 2016 and September 26, 2015 , respectively. The amounts reclassified from AOCI are net of tax of $1.4 million and ($1.2) million as of October 1, 2016 and September 26, 2015 , respectively. (2) As of October 1, 2016 and September 26, 2015 , Other represents the accumulated loss on the Company's minimum pension liability adjustment. The balances at October 1, 2016 and September 26, 2015 are net of tax of $0.8 million and $0.5 million, respectively.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Oct. 01, 2016
Earnings Per Share [Abstract]
Reconciliation of Weighted-average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share	The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share: Three Months Ended October 1, September 26, (millions, except per share data) Net income $ 117.4 $ 96.4 Total weighted-average basic shares outstanding 279.5 277.1 Dilutive securities: Effect of dilutive securities 2.4 1.2 Total weighted-average diluted shares 281.9 278.3 Net income per share: Basic $ 0.42 $ 0.35 Diluted $ 0.42 $ 0.35

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Oct. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost Charged Against Income and Related Tax Benefits for Share-based Compensation Plans	The following table shows the total compensation cost charged against income for share based compensation plans and the related tax benefits recognized in the condensed consolidated statements of income for the periods indicated: Three Months Ended October 1, September 26, 2015 (1) (millions) Share-based compensation expense $ 16.0 $ 22.9 Income tax benefit related to share-based compensation expense 4.7 6.9
Summary of Stock Option Activity	A summary of stock option activity during the three months ended October 1, 2016 is as follows: Number of Options Outstanding Weighted-Average Exercise Price per Option (millions) Outstanding at July 2, 2016 15.1 $ 40.18 Granted 3.2 39.86 Exercised (0.7 ) 40.76 Forfeited or expired (0.6 ) 40.44 Outstanding at October 1, 2016 17.0 40.09 Vested and expected to vest at October 1, 2016 16.4 41.98 Exercisable at October 1, 2016 10.1 43.69
Schedule of Nonvested Restricted Stock Units Activity	A summary of PRSU activity during the three months ended October 1, 2016 is as follows: Number of Non-vested PRSUs Weighted- Average Grant- Date Fair Value per PRSU (millions) Non-vested at July 2, 2016 1.4 $ 38.67 Granted 0.3 39.92 Change due to performance condition achievement (0.1 ) 53.19 Vested (1) — 39.72 Forfeited (0.1 ) 40.63 Non-vested at October 1, 2016 1.5 37.83 (1) During the first three months ended October 1, 2016 , less than 0.1 million PRSU shares vested. A summary of service-based RSU activity during the three months ended October 1, 2016 is as follows: Number of Non-vested RSUs Weighted- Average Grant- Date Fair Value per RSU (millions) Non-vested at July 2, 2016 3.7 $ 49.06 Granted 1.7 39.88 Vested (1.6 ) 39.24 Forfeited (0.2 ) 33.63 Non-vested at October 1, 2016 3.6 49.89

Debt (Tables)

Debt (Tables)	3 Months Ended
	Oct. 01, 2016
Debt Disclosure [Abstract]
Summary of the Components of Outstanding Debt	The following table summarizes the components of the Company’s outstanding debt: October 1, 2016 July 2, 2016 (millions) Current Debt: Term Loan $ — $ 15.0 Total Current Debt $ — $ 15.0 Long-Term Debt: Term Loan $ — $ 270.0 4.250% Senior Notes 600.0 600.0 Total Long-Term Debt 600.0 870.0 Less: Unamortized Discount and Debt Issuance Costs on 4.250% Senior Notes (8.6 ) (8.8 ) Total Long-Term Debt, net $ 591.4 $ 861.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 01, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements of Assets and Liabilities	The following table shows the fair value measurements of the Company’s financial assets and liabilities at October 1, 2016 and July 2, 2016 : Level 1 Level 2 Level 3 October 1, July 2, October 1, July 2, October 1, July 2, (millions) Assets: Cash equivalents (1) $ 266.2 $ 197.9 $ 100.4 $ 0.4 $ — $ — Short-term investments : Time deposits (2) — — 0.6 0.6 — — Commercial paper (2) — — 77.8 54.8 — — Government securities - U.S. (2) 175.7 119.9 — 11.8 — — Corporate debt securities - U.S. (2) — — 152.6 161.4 — — Corporate debt securities - non U.S. (2) — — 124.7 111.5 — — Other — — 1.8 $ 0.4 — — Long-term investments : Corporate debt securities - U.S. (3) — — 52.0 64.2 — — Corporate debt securities - non U.S. (3) — — 22.4 33.9 — — Derivative Assets : Inventory-related hedges (4) — — 0.6 0.2 — — Intercompany loan hedges (4) — — — 0.4 — — Liabilities: Contingent earnout obligation $ — $ — $ — $ — $ 30.7 $ 28.4 Derivative liabilities : Inventory-related hedges (4) — — 5.2 11.0 — — Intercompany loan hedges (4) — — 0.2 0.1 — — (1) Cash equivalents consist of money market funds and time deposits with maturities of three months or less at the date of purchase. Due to their short term maturity, management believes that their carrying value approximates fair value. (2) Short-term available-for-sale investments are recorded at fair value, which approximates their carrying value, and are primarily based upon quoted vendor or broker priced securities in active markets. (3) Fair value is primarily determined using vendor or broker priced securities in active markets. These securities have maturity dates in calendar years 2017 and 2018. (4) The fair value of these hedges is primarily based on the forward curves of the specific indices upon which settlement is based and includes an adjustment for the counterparty’s or Company’s credit risk.
Summary of Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs	The following table presents a reconciliation of the li abilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended October 1, 2016 and July 2, 2016 . Level 3 liabilities consisted of the contingent earnout obligation related to the Stuart Weitzman acquisition. October 1, 2016 July 2, 2016 (millions) Balance, beginning of period $ 28.4 $ 19.4 Increase to contingent earnout obligation 2.3 9.0 Balance, end of period $ 30.7 $ 28.4

Investments (Tables)

Investments (Tables)	3 Months Ended
	Oct. 01, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the condensed consolidated balance sheets as of October 1, 2016 and July 2, 2016 : October 1, 2016 July 2, 2016 Short-term Long-term Total Short-term Long-term Total (millions) Available-for-sale investments: Commercial paper (1) $ 77.8 $ — $ 77.8 $ 54.8 $ — $ 54.8 Government securities - U.S. (2) 175.7 — 175.7 131.7 — 131.7 Corporate debt securities - U.S. (2) 152.6 52.0 204.6 161.4 64.2 225.6 Corporate debt securities - non-U.S. (2) 124.7 22.4 147.1 111.5 33.9 145.4 Available-for-sale investments, total $ 530.8 $ 74.4 $ 605.2 $ 459.4 $ 98.1 $ 557.5 Other: Time deposits (1) 0.6 — 0.6 0.6 — 0.6 Other (3) 1.8 — 1.8 0.4 460.5 460.9 Total Investments $ 533.2 $ 74.4 $ 607.6 $ 460.4 $ 558.6 $ 1,019.0 (1) These securities have original maturities greater than three months and are recorded at fair value. (2) The securities as of October 1, 2016 have maturity dates between calendar years 2016 and 2018 and are recorded at fair value. (3) Long-term Other as of July 2, 2016 relates to the equity method investment in an entity formed during fiscal 2013 for the purpose of developing a new office tower in Manhattan (the "Hudson Yards joint venture"), with the Company owning less than 43% of the joint venture. Refer to Note 14, "Sale of Interest and Lease Transaction," for further information.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 01, 2016
Segment Reporting [Abstract]
Summary of Segment Information	The following table summarizes segment performance for the three months ended October 1, 2016 and September 26, 2015 : North America International Other (1) Corporate Unallocated (2) Stuart Weitzman Total (millions) Three Months Ended October 1, 2016 Net sales $ 545.3 $ 395.5 $ 9.3 $ — $ 87.5 $ 1,037.6 Gross profit 341.2 298.1 8.1 16.2 51.1 714.7 Operating income (loss) 164.2 113.3 6.1 (122.8 ) 5.1 165.9 Income (loss) before provision for income taxes 164.2 113.3 6.1 (128.5 ) 5.1 160.2 Depreciation and amortization expense (3) 17.6 18.5 — 15.4 3.8 55.3 Additions to long-lived assets 17.1 25.3 — 16.1 9.1 67.6 Three Months Ended September 26, 2015 Net sales $ 561.0 $ 369.0 $ 12.8 $ — $ 87.5 $ 1,030.3 Gross profit 348.9 282.2 8.4 7.3 49.7 696.5 Operating income (loss) 171.7 107.2 6.1 (151.3 ) 7.7 141.4 Income (loss) before provision for income taxes 171.7 107.2 6.1 (158.0 ) 7.7 134.7 Depreciation and amortization expense (3) 15.8 16.8 — 17.1 7.5 57.2 Additions to long-lived assets 21.8 31.4 — 14.6 1.7 69.5 (1) Other, which is not a reportable segment, consists of Coach brand sales and expenses generated in licensing and disposition channels. (2) Corporate unallocated expenses include certain centrally managed Coach brand inventory-related costs (such as production variances), advertising, marketing, design, administration and information systems, as well as distribution and consumer service expenses. Furthermore, operational efficiency and transformation-related charges incurred by the Company as described in Note 4, "Restructuring Activities" and charges associated with contingent earn out payments of the May 2015 Stuart Weitzman acquisition and other integration-related activities, are also included as unallocated corporate expenses. (3) Depreciation and amortization expense includes $3.0 million of operational efficiency plan charges for the three months ended October 1, 2016 , and $2.8 million of transformation-related charges for the three months ended September 26, 2015 , respectively. These charges are recorded as corporate unallocated expenses.
Summary of Common Costs Not Allocated	The following is a summary of all costs not allocated in the determination of segment operating income performance: Three Months Ended October 1, September 26, 2015 (millions) Inventory-related costs (1) $ 16.2 $ 7.3 Advertising, marketing and design (2) (55.9 ) (63.1 ) Administration and information systems (2)(3) (69.2 ) (80.3 ) Distribution and customer service (2) (13.9 ) (15.2 ) Total corporate unallocated $ (122.8 ) $ (151.3 ) (1) Inventory-related costs consist of production variances, and are recorded within cost of sales. (2) Costs recorded within SG&A expenses. (3) During the three months ended October 1, 2016 , operational efficiency charges recorded within SG&A expenses were ($7.1) million . Furthermore, during the three months ended October 1, 2016 , ($2.4) million of charges related to the Stuart Weitzman contingent earn out payments and other integration-related activities were recorded within corporate unallocated costs. During the three months ended September 26, 2015 , transformation-related costs recorded within SG&A expenses were ($12.6) million . The Company also recorded approximately ($3.6) million in acquisition-related expenses for the three months ended September 26, 2015 .

Nature of Operations (Details)

Nature of Operations (Details)	3 Months Ended
	Oct. 01, 2016country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries with sales to wholesale customers and distributors (country)	55

Restructuring Activities (Narra

Restructuring Activities (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		5 Months Ended	27 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Jul. 02, 2016
Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Transformation-related charges	$ 7.1		$ 51
Transformation-related charges, after tax	$ 5.6
Transformation-related charges per diluted share (USD per share)	$ 0.02
Transformation Plan
Restructuring Cost and Reserve [Line Items]
Transformation-related charges		$ 12.6		$ 321.5
Transformation-related charges, after tax		$ 8.5
Transformation-related charges per diluted share (USD per share)		$ 0.03
Minimum | Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Expected incremental charges	$ 20		20
Maximum | Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Expected incremental charges	35		$ 35
Organizational Efficiency Costs | Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Transformation-related charges	6.3
Technology Infrastructure | Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Transformation-related charges	0.1
Network Optimization | Operational Efficiency Plan
Restructuring Cost and Reserve [Line Items]
Transformation-related charges	$ 0.7

Restructuring Activities (Opera

Restructuring Activities (Operational Efficiency Plan) (Details) - Operational Efficiency Plan - USD ($) $ in Millions	3 Months Ended	5 Months Ended
	Oct. 01, 2016	Oct. 01, 2016
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	$ 25.4
Restructuring charges	7.1	$ 51
Cash payments	(13.1)
Non-cash charges	(3)
Restructuring liability at end of period	16.4	16.4
Organizational Efficiency
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	22.2
Restructuring charges	6.3
Cash payments	(9.8)
Non-cash charges	(2.3)
Restructuring liability at end of period	16.4	16.4
Technology Infrastructure
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	0
Restructuring charges	0.1
Cash payments	(0.1)
Non-cash charges	0
Restructuring liability at end of period	0	0
Network Optimization
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	3.2
Restructuring charges	0.7
Cash payments	(3.2)
Non-cash charges	(0.7)
Restructuring liability at end of period	$ 0	$ 0

Restructuring Activities (Trans

Restructuring Activities (Transformation and Other Actions) (Details) - Transformation Plan $ in Millions	3 Months Ended
	Oct. 01, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	$ 5.5
Cash payments	(3.8)
Restructuring liability at end of period	1.7
Organizational Efficiency Costs
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	5.5
Cash payments	(3.8)
Restructuring liability at end of period	$ 1.7

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Change in Carrying Value of Goodwill) (Details) $ in Millions	3 Months Ended
	Oct. 01, 2016USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 502.4
Foreign exchange impact	3.5
Ending Balance	505.9
International
Goodwill [Roll Forward]
Beginning Balance	346.9
Foreign exchange impact	3.8
Ending Balance	350.7
Stuart Weitzman
Goodwill [Roll Forward]
Beginning Balance	155.5
Foreign exchange impact	(0.3)
Ending Balance	$ 155.2

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets (Indefinite and Finite Lived Assets) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Intangible assets subject to amortization:
Gross carrying amount	$ 79.4	$ 79.4
Accumulated amortization	(11.1)	(9.4)
Total	68.3	70
Intangible assets not subject to amortization:
Intangible assets, gross (excluding goodwill)	356.2	356.2
Intangible assets, net (excluding goodwill)	345.1	346.8
Trademarks and trade names
Intangible assets not subject to amortization:
Indefinite-lived intangible assets (excluding goodwill)	276.8	276.8
Customer relationships
Intangible assets subject to amortization:
Gross carrying amount	54.7	54.7
Accumulated amortization	(6.9)	(5.8)
Total	47.8	48.9
Favorable lease rights, net
Intangible assets subject to amortization:
Gross carrying amount	24.7	24.7
Accumulated amortization	(4.2)	(3.6)
Total	$ 20.5	$ 21.1

Goodwill and Other Intangible37

Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of Fiscal 2017	$ 5.3
Fiscal 2,018	6.6
Fiscal 2,019	6.5
Fiscal 2,020	6.2
Fiscal 2,021	6
Fiscal 2,022	5.4
Fiscal 2023 and thereafter	32.3
Total	$ 68.3	$ 70

Goodwill and Other Intangible38

Goodwill and Other Intangible Assets (Narrative) (Details)	3 Months Ended
	Oct. 01, 2016
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	13 years 6 months 30 days
Favorable lease rights, net | Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	6 months
Favorable lease rights, net | Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	9 years

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Jun. 28, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	278.5
Beginning Balance	$ 2,682.9	$ 2,489.9
Net income	117.4	96.4
Other Comprehensive Income (Loss), Net of Tax	5.3	(25.4)	$ (25.4)
Shares issued for stock options and employee benefit plans	1.1	(8.5)
Share-based compensation	16	22.9
Excess tax effect from share-based compensation	0.4	(8.2)
Dividends declared	$ (94.6)	(93.6)
Ending balance (shares)	280.3
Ending Balance	$ 2,728.5	$ 2,473.5
Cash dividends declared per common share (USD per share)	$ 0.3375	$ 0.3375
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	278.5	276.6
Beginning Balance	$ 2.8	$ 2.8
Shares issued for stock options and employee benefit plans (shares)	1.8	0.9
Ending balance (shares)	280.3	277.5
Ending Balance	$ 2.8	$ 2.8
Additional Paid-in- Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	2,857.1	2,754.4
Shares issued for stock options and employee benefit plans	1.1	(8.5)
Share-based compensation	16	22.9
Excess tax effect from share-based compensation	0.4	(8.2)
Ending Balance	2,874.6	2,760.6
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(104.1)	(189.6)
Net income	117.4	96.4
Dividends declared	(94.6)	(93.6)
Ending Balance	(81.3)	(186.8)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(72.9)	(77.7)
Other Comprehensive Income (Loss), Net of Tax	5.3	(25.4)	$ (25.4)
Ending Balance	$ (67.6)	$ (103.1)

Stockholders' Equity (Accumulat

Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Jun. 28, 2014
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Other comprehensive income (loss), net of tax	$ 5.3	$ (25.4)	$ (25.4)
Amounts reclassified from AOCI, tax	1.4	(1.2)
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(8.8)	4.4
Other comprehensive (loss) before reclassifications	0.1	(0.9)
Less: gains reclassified from accumulated other comprehensive income to earnings	(2.8)	2.4
Other comprehensive income (loss), net of tax	2.9	(3.3)
Ending balance	(5.9)	1.1
Accumulated other comprehensive income related to cash flow hedges, accumulated tax	3	(0.8)
Unrealized Losses on Available- for-Sale Debt Securities
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	0.3	0.5
Other comprehensive (loss) before reclassifications	(0.5)	(0.5)
Less: gains reclassified from accumulated other comprehensive income to earnings	0	0
Other comprehensive income (loss), net of tax	(0.5)	(0.5)
Ending balance	(0.2)	0
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(62.9)	(81.7)
Other comprehensive (loss) before reclassifications	2.9	(21.6)
Less: gains reclassified from accumulated other comprehensive income to earnings	0	0
Other comprehensive income (loss), net of tax	2.9	(21.6)
Ending balance	(60)	(103.3)
Other
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(1.5)	(0.9)
Other comprehensive (loss) before reclassifications	0	0
Less: gains reclassified from accumulated other comprehensive income to earnings	0	0
Other comprehensive income (loss), net of tax	0	0
Ending balance	(1.5)	(0.9)
Accumulated other comprehensive income related to cash flow hedges, accumulated tax	0.8	0.5
Total
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(72.9)	(77.7)
Other comprehensive (loss) before reclassifications	2.5	(23)
Less: gains reclassified from accumulated other comprehensive income to earnings	(2.8)	2.4
Other comprehensive income (loss), net of tax	5.3	(25.4)	$ (25.4)
Ending balance	$ (67.6)	$ (103.1)

Earnings per Share (Reconciliat

Earnings per Share (Reconciliation of Weighted Average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Earnings Per Share [Abstract]
Net income	$ 117.4	$ 96.4
Total weighted-average basic shares outstanding (shares)	279.5	277.1
Dilutive securities:
Effect of dilutive securities (shares)	2.4	1.2
Total weighted-average diluted shares (shares)	281.9	278.3
Net income per share:
Basic (USD per share)	$ 0.42	$ 0.35
Diluted (USD per share)	$ 0.42	$ 0.35

Earnings Per Share (Anti-Diluti

Earnings Per Share (Anti-Dilutive Impact on Diluted Earnings per Share) (Details) - shares shares in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Earnings Per Share [Abstract]
Options to purchase shares of common stock excluded from the computation of diluted earnings per share (shares)	9.1	15.8

Share-based Compensation (Total

Share-based Compensation (Total Compensation Cost and Related Tax Benefits) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense	$ 16	$ 22.9
Income tax benefit related to share-based compensation expense	$ 4.7	$ 6.9

Share-based Compensation (Summa

Share-based Compensation (Summary of Option Activity) (Details) shares in Millions	3 Months Ended
	Oct. 01, 2016$ / sharesshares
Number of Options Outstanding
Beginning balance (shares) | shares	15.1
Granted (shares) | shares	3.2
Exercised (shares) | shares	(0.7)
Forfeited or expired (shares) | shares	(0.6)
Ending balance (shares) | shares	17
Number of options outstanding, vested and expected to vest (shares) | shares	16.4
Number of options outstanding, exercisable (shares) | shares	10.1
Weighted-Average Exercise Price per Option
Beginning balance (USD per share) | $ / shares	$ 40.18
Granted (USD per share) | $ / shares	39.86
Exercised (USD per share) | $ / shares	40.76
Forfeited or expired (USD per share) | $ / shares	40.44
Ending balance (USD per share) | $ / shares	40.09
Weighted-average excercise price per option, vested and expected to vest (USD per share) | $ / shares	41.98
Weighted-average excercise price per option, exercisable (USD per share) | $ / shares	$ 43.69

Share-based Compensation (Narra

Share-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Jul. 02, 2016
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Awards that are based on performance criteria (shares)	17,000,000		15,100,000
Stock Options
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total unrecognized compensation cost related to non-vested stock options	$ 35.9
Options outstanding, weighted-average remaining contractual term	1 year 3 months
Weighted-average grant-date fair value of options granted (USD per share)	$ 7.29	$ 5.60
Total intrinsic value of options exercised	$ 5.7	$ 0.1
Total cash received from option exercises	20.7	2.5
Actual tax benefit realized for the tax deductions from these option exercises	2.1	0.1
Restricted Stock Unit Awards (RSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Actual tax benefit realized for the tax deductions from these option exercises	$ 18.3	$ 11.4
Performance-based Restricted Stock Unit Awards (PRSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of options granted (USD per share)	$ 39.92	$ 31.56
Total unrecognized compensation cost related to non-vested awards	$ 18.2
Total fair value of shares vested	$ 0.9	$ 0.9
Expected term	1 year 2 months 12 days
Awards granted (shares)	300,000
Total Stockholder Return Performance Restricted Stock Units
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Awards that are based on performance criteria (shares)	600,000
Awards granted (shares)	0
Performance-based Restricted Stock Unit, Productivity, Strategic and Sales Metrics
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Awards that are based on performance criteria (shares)	900,000
Service-based Restricted Stock Unit Awards (RSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of options granted (USD per share)	$ 39.88	$ 31.51
Total unrecognized compensation cost related to non-vested awards	$ 90.4
Total unrecognized compensation cost related to non-vested awards, weighted-average recognition period	1 year 3 months 6 days
Total fair value of shares vested	$ 62.1	$ 36.1
Awards granted (shares)	1,700,000

Share-based Compensation (Sum46

Share-based Compensation (Summary of Non-vested Service-Based Restricted Stock Unit Activity) (Details) - Service-based Restricted Stock Unit Awards (RSU) shares in Millions	3 Months Ended
	Oct. 01, 2016$ / sharesshares
Number of Non-vested Options
Beginning balance (shares) | shares	3.7
Granted (shares) | shares	1.7
Vested (shares) | shares	(1.6)
Forfeited (shares) | shares	(0.2)
Ending balance (shares) | shares	3.6
Weighted-Average Grant-Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 49.06
Granted (USD per share) | $ / shares	39.88
Vested (USD per share) | $ / shares	39.24
Forfeited (USD per share) | $ / shares	33.63
Ending balance (USD per share) | $ / shares	$ 49.89

Share-based Compensation (Sum47

Share-based Compensation (Summary of Non-vested Performance-based Restricted Stock Unit) (Details) - Performance-based Restricted Stock Unit Awards (PRSU) shares in Millions	3 Months Ended
	Oct. 01, 2016$ / sharesshares
Number of Non-vested PRSUs
Beginning balance (shares) | shares	1.4
Granted (shares) | shares	0.3
Change due to performance condition achievement, less than (shares) | shares	(0.1)
Vested, less than (shares) | shares	0.1
Forfeited (shares) | shares	(0.1)
Ending balance (shares) | shares	1.5
Weighted-Average Grant-Date Fair Value per PRSU
Beginning balance (USD per share) | $ / shares	$ 38.67
Granted (USD per share) | $ / shares	39.92
Change due to performance condition achievement (USD per share) | $ / shares	53.19
Vested (USD per share) | $ / shares	39.72
Forfeited (USD per share) | $ / shares	40.63
Ending balance (USD per share) | $ / shares	$ 37.83

Debt (Summary of Debt) (Details

Debt (Summary of Debt) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Current Debt:
Current debt	$ 0	$ 15
Long-Term Debt:
Long-term debt	600	870
Less: unamortized discount and debt issuance costs on 4.250% senior notes	(8.6)	(8.8)
Total long-term debt	591.4	861.2
Term Loan
Current Debt:
Current debt	0	15
Long-Term Debt:
Long-term debt	0	270
Senior Notes | 4.250% Senior Notes
Long-Term Debt:
Long-term debt	$ 600	$ 600

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended
	Mar. 31, 2015	Mar. 28, 2015	Oct. 01, 2016	Sep. 26, 2015	Jul. 02, 2016
Debt Instrument [Line Items]
Interest expense			$ 7,400,000	$ 8,000,000
Revolving Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 700,000,000
Amended and Restated Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Amended and Restated Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
4.250% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Interest rate, stated percentage	4.25%
Debt instrument, issuance amount, percent of par	99.445%
Long-term debt, maturities, redemption period before maturity	90 days
Debt instrument, redemption price, percentage	100.00%
4.250% Senior Notes | Senior Notes | Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.35%
Senior Unsecured Term Loan | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument, face amount	$ 300,000,000
Revolving Facility | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Outstanding borrowings			$ 0
Commitment fee percentage			0.15%
Fair Value, Inputs, Level 2 | 4.250% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value			$ 632,000,000		$ 622,000,000

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements of Assets and Liabilities) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 266.2	$ 197.9
Contingent earnout obligation	0	0
Level 1 | Inventory-related hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Intercompany loan hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Short-term Investments | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Short-term Investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Short-term Investments | Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	175.7	119.9
Level 1 | Short-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Short-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Short-term Investments | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Long-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Long-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	100.4	0.4
Contingent earnout obligation	0	0
Level 2 | Inventory-related hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.6	0.2
Derivative liabilities	5.2	11
Level 2 | Intercompany loan hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0.4
Derivative liabilities	0.2	0.1
Level 2 | Short-term Investments | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.6	0.6
Level 2 | Short-term Investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	77.8	54.8
Level 2 | Short-term Investments | Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	11.8
Level 2 | Short-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	152.6	161.4
Level 2 | Short-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	124.7	111.5
Level 2 | Short-term Investments | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1.8	0.4
Level 2 | Long-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	52	64.2
Level 2 | Long-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	22.4	33.9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Contingent earnout obligation	30.7	28.4
Level 3 | Inventory-related hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 3 | Intercompany loan hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 3 | Short-term Investments | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Short-term Investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Short-term Investments | Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Short-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Short-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Short-term Investments | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Long-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Long-term Investments | Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Fair Value Measurements (Fair51

Fair Value Measurements (Fair Value Measured on a Recurring Basis Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Jul. 02, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 28.4	$ 19.4
Increase to contingent earnout obligation	2.3	9
Balance, end of period	$ 30.7	$ 28.4

Investments (Summary of Investm

Investments (Summary of Investments) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Schedule of Available-for-sale Securities [Line Items]
Short-term	$ 533.2	$ 460.4
Long-term	74.4	558.6
Total	607.6	1,019
Available-for-sale Investments
Schedule of Available-for-sale Securities [Line Items]
Short-term	530.8	459.4
Long-term	74.4	98.1
Total	605.2	557.5
Available-for-sale Investments | Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Short-term	77.8	54.8
Long-term	0	0
Total	77.8	54.8
Available-for-sale Investments | Government securities - U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	175.7	131.7
Long-term	0	0
Total	175.7	131.7
Available-for-sale Investments | Corporate debt securities - U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	152.6	161.4
Long-term	52	64.2
Total	204.6	225.6
Available-for-sale Investments | Corporate debt securities - non U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	124.7	111.5
Long-term	22.4	33.9
Total	147.1	145.4
Other | Time deposits
Schedule of Available-for-sale Securities [Line Items]
Short-term	0.6	0.6
Long-term	0	0
Total	0.6	0.6
Other | Other
Schedule of Available-for-sale Securities [Line Items]
Short-term	1.8	0.4
Long-term	0	460.5
Total	$ 1.8	$ 460.9

Investments (Summary of Inves53

Investments (Summary of Investments Footnote) (Details)	3 Months Ended	12 Months Ended
	Oct. 01, 2016	Jul. 02, 2016
Schedule of Available-for-sale Securities [Line Items]
Commercial paper, maturity period, greater than		3 months
Time deposit, maturity period, greater than	3 months
Hudson Yards
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage, less than	43.00%

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities, gross unrealized gain (loss)	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016
Letter of Credit
Commitments and Contingencies Disclosure [Line Items]
Letters of credit amount outstanding	$ 7.4	$ 7.5

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Oct. 01, 2016countrysegment
Segment Reporting [Abstract]
Reportable segments | segment	3
Number of countries with sales to wholesale customers and distributors (country) | country	55

Segment Information (Summary of

Segment Information (Summary of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Segment Reporting Information [Line Items]
Net sales	$ 1,037.6	$ 1,030.3
Gross profit	714.7	696.5
Operating income (loss)	165.9	141.4
Income (loss) before provision for income taxes	160.2	134.7
Depreciation and amortization expense	55.3	57.2
Additions to long-lived assets	67.6	69.5
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	545.3	561
Gross profit	341.2	348.9
Operating income (loss)	164.2	171.7
Income (loss) before provision for income taxes	164.2	171.7
Depreciation and amortization expense	17.6	15.8
Additions to long-lived assets	17.1	21.8
Operating Segments | International
Segment Reporting Information [Line Items]
Net sales	395.5	369
Gross profit	298.1	282.2
Operating income (loss)	113.3	107.2
Income (loss) before provision for income taxes	113.3	107.2
Depreciation and amortization expense	18.5	16.8
Additions to long-lived assets	25.3	31.4
Operating Segments | Stuart Weitzman
Segment Reporting Information [Line Items]
Net sales	87.5	87.5
Gross profit	51.1	49.7
Operating income (loss)	5.1	7.7
Income (loss) before provision for income taxes	5.1	7.7
Depreciation and amortization expense	3.8	7.5
Additions to long-lived assets	9.1	1.7
Other
Segment Reporting Information [Line Items]
Net sales	9.3	12.8
Gross profit	8.1	8.4
Operating income (loss)	6.1	6.1
Income (loss) before provision for income taxes	6.1	6.1
Depreciation and amortization expense	0	0
Additions to long-lived assets	0	0
Corporate Unallocated
Segment Reporting Information [Line Items]
Net sales	0	0
Gross profit	16.2	7.3
Operating income (loss)	(122.8)	(151.3)
Income (loss) before provision for income taxes	(128.5)	(158)
Depreciation and amortization expense	15.4	17.1
Additions to long-lived assets	16.1	14.6
Operational Efficiency Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 3
Transformation Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense		$ 2.8

Segment Information (Summary 58

Segment Information (Summary of Common Costs Not Allocated) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating income	$ 165.9	$ 141.4
Corporate Unallocated
Segment Reporting, Other Significant Reconciling Item [Line Items]
Inventory-related costs	16.2	7.3
Advertising, marketing and design	(55.9)	(63.1)
Administration and information systems	(69.2)	(80.3)
Distribution and customer service	(13.9)	(15.2)
Operating income	(122.8)	(151.3)
Restructuring costs related to administration and information systems	(7.1)	(12.6)
Acquisition-related expenses	$ (2.4)	$ (3.6)

Sale of Interest and Lease Tr59

Sale of Interest and Lease Transaction (Details) ft² in Thousands, $ in Millions	Aug. 01, 2016USD ($)ft²	Oct. 01, 2016USD ($)
Sale Leaseback Transaction [Line Items]
Minimum lease payments, due in fiscal 2017		$ 41.4
Minimum lease payments, due in fiscal 2018		45.1
Minimum lease payments, due in fiscal 2019		45.1
Minimum lease payments, due in fiscal 2020		45.1
Minimum lease payments, due in fiscal 2021		45.1
Minimum lease payments, due for years subsequent to 2021		825.5
Minimum lease payments		$ 1,050
Corporate Headquarters Lease
Sale Leaseback Transaction [Line Items]
Investment purchase price received	$ 707
Amount due to developer	77
Transaction costs	26
Deferred gain	$ 28.8
Amortization period of deferred gain	20 years
Lease term	20 years
Leased building area | ft²	694