Tapestry (TPR) 10-Q 10 Feb 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jan. 01, 2022	Jan. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 1, 2022
Document Transition Report	false
Entity File Number	1-16153
Entity Registrant Name	Tapestry, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-2242751
Entity Address, Address Line One	10 Hudson Yards
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	946-8400
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	TPR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		263,989,719
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001116132
Current Fiscal Year End Date	--07-02

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
Current Assets:
Cash and cash equivalents	$ 1,257.4	$ 2,007.7
Short-term investments	390.3	8.1
Trade accounts receivable, less allowances for credit losses of $3.7 and $4.2, respectively	292.7	200.2
Inventories	750	734.8
Income tax receivable	181.5	254.6
Prepaid expenses	104.2	93.8
Other current assets	82.4	76.1
Total current assets	3,058.5	3,375.3
Property and equipment, net	647.7	678.1
Operating lease right-of-use assets	1,403.6	1,496.6
Goodwill	1,285.2	1,297.3
Intangible assets	1,370.1	1,373.4
Other assets	164.3	161.7
Total assets	7,929.4	8,382.4
Current Liabilities:
Accounts payable	468.2	445.2
Accrued liabilities	643	609.2
Current portion of operating lease liabilities	308	319.4
Accrued income taxes	24.5	52
Current debt	400	0
Total current liabilities	1,843.7	1,425.8
Long-term debt	1,189.1	1,590.7
Long-term operating lease liabilities	1,414.8	1,525.9
Deferred income taxes	206.8	203.9
Other liabilities	347.6	376.8
Total liabilities	5,002	5,123.1
See Note 15 on 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 1.0 billion shares; $0.01 par value per share) issued and outstanding - 264.0 million and 279.5 million shares, respectively	2.6	2.8
Additional paid-in-capital	3,521.5	3,487
Retained earnings (accumulated deficit)	(501)	(158.5)
Accumulated other comprehensive income (loss)	(95.7)	(72)
Total stockholders' equity	2,927.4	3,259.3
Total liabilities and stockholders' equity	$ 7,929.4	$ 8,382.4

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances for credit losses	$ 3.7	$ 4.2
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)	264,000,000	279,500,000
Common stock, outstanding (shares)	264,000,000	279,500,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Income Statement [Abstract]
Net sales	$ 2,141.2	$ 1,685.4	$ 3,622.1	$ 2,857.6
Cost of sales	683.8	511.7	1,096	853.7
Gross profit	1,457.4	1,173.7	2,526.1	2,003.9
Selling, general and administrative expenses	994.6	784.3	1,768.3	1,412.3
Operating income (loss)	462.8	389.4	757.8	591.6
Loss on extinguishment of debt	53.7	0	53.7	0
Interest expense, net	15.9	18.7	32	38.1
Other expense (income)	3.1	(3.6)	5.3	(6.2)
Income (loss) before provision for income taxes	390.1	374.3	666.8	559.7
Provision (benefit) for income taxes	72.2	63.3	122	17
Net income (loss)	$ 317.9	$ 311	$ 544.8	$ 542.7
Net income (loss) per share:
Basic (USD per share)	$ 1.17	$ 1.12	$ 1.98	$ 1.96
Diluted (USD per share)	$ 1.15	$ 1.11	$ 1.94	$ 1.94
Shares used in computing net income (loss) per share:
Basic (shares)	271.1	277.5	274.5	277.1
Diluted (shares)	277.2	281	281	279.4

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 317.9	$ 311	$ 544.8	$ 542.7
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on cash flow hedging derivatives, net	(0.2)	(1.8)	(0.6)	(5.3)
Unrealized gains (losses) on available-for-sale investments, net	(0.1)	0	(0.3)	0
Foreign currency translation adjustments	(13.3)	27.9	(22.8)	47.1
Other comprehensive income (loss), net of tax	(13.6)	26.1	(23.7)	41.8
Comprehensive income (loss)	$ 304.3	$ 337.1	$ 521.1	$ 584.5

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
Net income (loss)	$ 544.8	$ 542.7
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	99.6	102.4
Provision for bad debt	13.5	(1.7)
Loss on extinguishment of debt	53.7	0
Share-based compensation	33.5	28.9
Acceleration Program charges	6	(0.9)
Changes to lease related balances, net	(26.3)	(86.1)
Deferred income taxes	5.2	(41.2)
Gain on sale of building	0	(13.2)
Gain on deferred purchase price	0	(12.5)
Other non-cash charges, net	17.7	8.3
Changes in operating assets and liabilities:
Trade accounts receivable	(88.9)	(143.2)
Inventories	(17.4)	144.3
Accounts payable	(0.7)	253.8
Accrued liabilities	3.4	54.4
Other liabilities	(26.4)	(12.9)
Other assets	50.4	(76.8)
Net cash provided by operating activities	668.1	746.3
CASH FLOWS USED IN INVESTING ACTIVITIES
Proceeds from sale of building	0	23.9
Purchases of investments	(502.3)	(0.2)
Proceeds from maturities and sales of investments	118.3	0.2
Purchases of property and equipment	(71.7)	(49.7)
Net cash used in investing activities	(455.7)	(25.8)
CASH FLOWS USED IN FINANCING ACTIVITIES
Dividend payments	(137.5)	0
Repurchase of common stock	(750)	0
Proceeds from issuance of debt, net of discount	498.5	0
Payment of debt issuance costs	(4.5)	0
Payment of debt extinguishment costs	(50.7)	0
Proceeds from share-based awards	23.6	6.2
Repayment of debt	(500)	(11.5)
Repayment of revolving credit facility	0	(500)
Payment of deferred purchase price	0	(4.8)
Taxes paid to net settle share-based awards	(31)	(8.4)
Payments of finance lease liabilities	(0.5)	(0.4)
Net cash used in financing activities	(952.1)	(518.9)
Effect of exchange rate changes on cash and cash equivalents	(10.6)	14.7
Net (decrease) increase in cash and cash equivalents	(750.3)	216.3
Cash and cash equivalents at beginning of period	2,007.7	1,426.3
Cash and cash equivalents at end of period	1,257.4	1,642.6
Supplemental information:
Cash paid for income taxes, net	78.6	191.8
Cash paid for interest	36.6	37.2
Noncash investing activity - property and equipment obligations	$ 11.2	$ 19.7

Nature of Operations

Nature of Operations	6 Months Ended
	Jan. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NATURE OF OPERATIONS Tapestry, Inc. (the "Company") is a leading New York-based house of modern luxury accessories and lifestyle brands. Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, including e-commerce sites, sales to wholesale customers and through numerous independent third party distributors.

Basis of Presentation and Organ

Basis of Presentation and Organization	6 Months Ended
	Jan. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Organization	BASIS OF PRESENTATION AND ORGANIZATION Interim Financial Statements These unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("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 condensed consolidated financial position, results of operations, comprehensive income (loss) 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 for the year ended July 3, 2021 ("fiscal 2021") and other filings filed with the SEC. The results of operations, cash flows and comprehensive income for the six months ended January 1, 2022 are not necessarily indicative of results to be expected for the entire fiscal year, which will end on July 2, 2022 ("fiscal 2022"). Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2022 will be a 52-week period. Fiscal 2021, ended on July 3, 2021, was a 53-week period. The second quarter of fiscal 2022 ended on January 1, 2022 and the second quarter of fiscal 2021 ended on December 26, 2020, both of which were 13-week periods. Covid-19 Pandemic The outbreak of a novel strain of coronavirus ("Covid-19") continues to impact a significant majority of the regions in which we operate, resulting in significant global business disruptions. The widespread impact of Covid-19 resulted in temporary closures of directly operated stores globally, as well as at our wholesale and licensing partners starting in fiscal 2020. Since then, certain directly operated stores and the stores of our wholesale and licensing partners have experienced temporary re-closures or are operating under tighter restrictions in compliance with local government regulation. Covid-19 has also resulted in ongoing supply chain challenges, such as logistic constraints, the temporary closure of certain third-party manufacturers and increased freight costs. The global Covid-19 pandemic is continuously evolving and the extent to which this impacts the Company - including unforeseen increased costs to the Company's business - will depend on future developments, which cannot be predicted, including the ultimate duration, severity and geographic resurgence of the virus and the success of actions to contain the virus, including variants of the novel strain, or treat its impact, among others. As the full magnitude of the effects on the Company's business is difficult to predict, the Covid-19 pandemic has and may continue to have a material adverse impact on the Company's business, financial condition, results of operations and cash flows for the foreseeable future. The Company believes that cash flows from operations, access to the credit and capital markets and our credit lines, on-hand cash and cash equivalents and our investments provide adequate funds to support our operating, capital, and debt service requirements. There can be no assurance, however, that any such capital will be available to the Company on acceptable terms or at all. The Company could experience other potential adverse impacts as a result of the Covid-19 pandemic, including, but not limited to, further charges from adjustments to the carrying amount of goodwill and other intangible assets, long-lived asset impairment charges, reserves for uncollectible accounts receivable and reserves for the realizability of inventory. In response to the Covid-19 pandemic, the Company took actions to reinforce its liquidity and financial flexibility. If stores are required to close again for an extended period of time due to a resurgence of increased infections, the Company's liquidity may be negatively impacted. 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 condensed consolidated 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; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes and related uncertain tax positions; accounting for business combinations; the valuation of stock-based compensation awards and related expected forfeiture rates; reserves for restructuring; and reserves for litigation and other contingencies, amongst others. Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned and controlled subsidiaries. All intercompany transactions and balances are eliminated in consolidation. Share Repurchases The Company accounts for stock repurchases by allocating the repurchase price to common stock and retained earnings. Under Maryland law, the Company's state of incorporation, there are no treasury shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. Purchases of the Company's common stock are executed through open market purchases, including through a purchase agreement under Rule 10b5-1. The Company may terminate or limit the share repurchase program at any time. As a result, all repurchased shares are authorized but unissued shares. The Company may terminate or limit the stock repurchase program at any time.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jan. 01, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in Topic 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for the step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 as of the beginning of fiscal 2022. The adoption of ASU 2019-12 did not have a material impact on the Company's condensed consolidated financial statements and notes thereto. Recently Issued Accounting Pronouncements

Revenue

Revenue	6 Months Ended
	Jan. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The Company recognizes revenue primarily from sales of the products of its brands through retail and wholesale channels, including e-commerce sites. The Company also generates revenue from royalties related to licensing its trademarks, as well as sales in ancillary channels. In all cases, revenue is recognized upon the transfer of control of the promised products or services to the customer, which may be at a point in time or over time. Control is transferred when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized is the amount of consideration to which the Company expects to be entitled, including estimation of sale terms that may create variability in the consideration. Revenue subject to variability is constrained to an amount which will not result in a significant reversal in future periods when the contingency that creates variability is resolved. The Company recognizes revenue in its retail stores, including concession shop-in-shops, at the point-of-sale when the customer obtains physical possession of the products. Digital revenue from sales of products ordered through the Company's e-commerce sites is recognized upon delivery and receipt of the shipment by its customers and includes shipping and handling charges paid by customers. Retail and digital revenues are recorded net of estimated returns, which are estimated by developing an expected value based on historical experience. Payment is due at the point of sale. Gift cards issued by the Company are recorded as a liability until redeemed by the customer, at which point revenue is recognized. The Company also uses historical information to estimate the amount of gift card balances that will never be redeemed and recognizes that amount as revenue over time in proportion to actual customer redemptions if the Company does not have a legal obligation to remit unredeemed gift cards to any jurisdiction as unclaimed property. Certain of the Company's retail operations use sales incentive programs, such as customer loyalty programs and the issuance of coupons. Loyalty programs provide the customer a material right to acquire additional products and give rise to the Company having a separate performance obligation. Additionally, certain products sold by the Company include an assurance warranty that is not considered a separate performance obligation. These programs are immaterial individually and in the aggregate. The Company recognizes revenue within the wholesale channel at the time title passes and risk of loss is transferred to customers, which is generally at the point of shipment of products but may occur upon receipt of the shipment by the customer in certain cases. Payment is generally due 30 to 90 days after shipment. Wholesale revenue is recorded net of estimates for returns, discounts, end-of-season markdowns, cooperative advertising allowances and other consideration provided to the customer. Discounts are based on contract terms with the customer, while cooperative advertising allowances and other consideration may be based on contract terms or negotiated on a case-by-case basis. Returns and markdowns generally require approval from the Company and are estimated based on historical trends, current season results and inventory positions at the wholesale locations, current market and economic conditions as well as, in select cases, contractual terms. The Company's historical estimates of these variable amounts have not differed materially from actual results. The Company recognizes licensing revenue over time during the contract period in which licensees are granted access to the Company's trademarks. These arrangements require licensees to pay a sales-based royalty and may include a contractually guaranteed minimum royalty amount. Revenue for contractually guaranteed minimum royalty amounts is recognized ratably over the license year and any excess sales-based royalties are recognized as earned once the minimum royalty threshold is achieved. Payments from the customer are generally due quarterly in an amount based on the licensee's sales of goods bearing the licensed trademarks during the period, which may differ from the amount of revenue recorded during the period thereby generating a contract asset or liability. Contract assets and liabilities and contract costs related to the licensing arrangements are immaterial as the licensing business represents approximately 1% of total net sales in the six months ended January 1, 2022. The Company has elected a practical expedient not to disclose the remaining performance obligations that are unsatisfied as of the end of the period related to contracts with an original duration of one year or less or variable consideration related to sales-based royalty arrangements. There are no other contracts with transaction price allocated to remaining performance obligations other than future minimum royalties as discussed above, which are not material. Other practical expedients elected by the Company include (i) assuming no significant financing component exists for any contract with a duration of one year or less, (ii) accounting for shipping and handling as a fulfillment activity within SG&A expense regardless of the timing of the shipment in relation to the transfer of control and (iii) excluding sales and value added tax from the transaction price. Disaggregated Net Sales The following table disaggregates the Company's net sales into geographies that depict how economic factors may impact the revenues and cash flows for the periods presented. Each geography presented includes net sales related to the Company's directly operated channels, global travel retail business and to wholesale customers, including distributors, in locations within the specified geographic area. North America Greater China (1) Other Asia (2) Other (3) Total (millions) Three Months Ended January 1, 2022 Coach $ 1,011.2 $ 258.7 $ 201.6 $ 53.5 $ 1,525.0 Kate Spade 415.7 11.6 42.4 30.7 500.4 Stuart Weitzman 67.2 38.2 — 10.4 115.8 Total $ 1,494.1 $ 308.5 $ 244.0 $ 94.6 $ 2,141.2 Three Months Ended December 26, 2020 Coach $ 742.6 $ 242.6 $ 188.0 $ 52.1 $ 1,225.3 Kate Spade 303.7 13.4 35.6 22.9 375.6 Stuart Weitzman 41.9 35.6 0.3 6.7 84.5 Total $ 1,088.2 $ 291.6 $ 223.9 $ 81.7 $ 1,685.4 Six Months Ended January 1, 2022 Coach $ 1,692.9 $ 500.7 $ 338.5 $ 107.8 $ 2,639.9 Kate Spade 647.9 23.3 69.2 59.5 799.9 Stuart Weitzman 102.9 60.9 0.3 18.2 182.3 Total $ 2,443.7 $ 584.9 $ 408.0 $ 185.5 $ 3,622.1 Six Months Ended December 26, 2020 Coach $ 1,209.3 $ 438.8 $ 350.3 $ 102.3 $ 2,100.7 Kate Spade 476.0 27.2 70.0 42.8 616.0 Stuart Weitzman 68.2 53.3 2.8 16.6 140.9 Total $ 1,753.5 $ 519.3 $ 423.1 $ 161.7 $ 2,857.6 (1) Greater China includes mainland China, Hong Kong SAR, Taiwan and Macao SAR. (2) Other Asia includes Japan, Australia, New Zealand, South Korea, Thailand and other countries within Asia. (3) Other sales primarily represents sales in Europe, the Middle East and royalties related to licensing. Deferred Revenue

Restructuring Activities

Restructuring Activities	6 Months Ended
	Jan. 01, 2022
Restructuring and Related Activities [Abstract]
Restructuring Activities	RESTRUCTURING ACTIVITIES Acceleration Program The Company has implemented a strategic growth plan after undergoing a review of its business under its multi-year growth agenda. This multi-faceted, multi-year strategic growth plan (the "Acceleration Program") reflects: (i) actions to streamline the Company's organization; (ii) select store closures as the Company optimizes its fleet (including store closure costs incurred as the Company exits certain regions in which it currently operates); and (iii) professional fees and compensation costs incurred as a result of the development and execution of the Company's comprehensive strategic initiatives aimed at increasing profitability. Under the Acceleration Program, the Company expects to incur total pre-tax charges of approximately $215 million - $220 million. The Acceleration Program is expected to be substantially complete by the end of fiscal 2022. Under the Acceleration Program, the Company incurred charges of $13.3 million and $25.4 million during the three and six months ended January 1, 2022, respectively, all of which was recorded within SG&A expenses. Of the $13.3 million and $25.4 million recorded within SG&A expenses, $7.2 million and $16.1 million was recorded within Corporate, $1.1 million and $2.5 million was recorded within the Coach segment, $2.1 million and $3.5 million was recorded within the Kate Spade segment and $2.9 million and $3.3 million was recorded within the Stuart Weitzman segment. For the three and six months ended December 26, 2020, the Company incurred charges of $21.7 million and $48.3 million, respectively, all of which was recorded within SG&A expenses. Of the $21.7 million and $48.3 million recorded within SG&A expenses, $15.8 million and $33.1 million was recorded within Corporate, $5.8 million and $16.5 million was recorded within the Coach segment, $2.4 million and $3.4 million was recorded within the Kate Spade segment and a reduction of expense of $2.3 million and $4.7 million was recorded within the Stuart Weitzman segment, respectively. A summary of charges and related liabilities under the Acceleration Program is as follows: Organization-Related (1) Store Closure (2) Other (3) Total (millions) Fiscal 2020 charges $ 44.7 $ 32.3 $ 10.0 $ 87.0 Cash payments (15.8) (11.0) (7.1) (33.9) Non-cash charges (4.0) (20.8) — (24.8) Liability balance as of June 27, 2020 $ 24.9 $ 0.5 $ 2.9 $ 28.3 Fiscal 2021 charges 16.6 5.9 67.1 89.6 Cash payments (38.2) (11.9) (36.6) (86.7) Non-cash charges — 5.8 (10.9) (5.1) Liability balance as of July 3, 2021 $ 3.3 $ 0.3 $ 22.5 $ 26.1 Fiscal 2022 charges $ — $ 3.3 $ 22.1 $ 25.4 Cash payments (1.2) (2.0) (11.8) (15.0) Non-cash charges — 2.4 (8.4) (6.0) Liability balance as of January 1, 2022 $ 2.1 $ 4.0 $ 24.4 $ 30.5 (1) Organization-related charges, recorded within SG&A expenses, primarily relates to severance and other related costs. (2) Store closure charges represent lease termination penalties, removal or modification of lease assets and liabilities, establishing inventory reserves, accelerated depreciation and severance. (3) Other charges, recorded within SG&A, primarily relates to professional fees and share-based compensation. The Company expects to incur approximately $15 million in additional charges under the Acceleration Program in fiscal 2022.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The change in the carrying amount of the Company’s goodwill by segment is as follows: Coach Kate Spade Stuart Weitzman (1) Total (millions) Balance at July 3, 2021 $ 656.3 $ 641.0 $ — $ 1,297.3 Foreign exchange impact (10.1) (2.0) — (12.1) Balance at January 1, 2022 $ 646.2 $ 639.0 $ — $ 1,285.2 (1) Amount is net of accumulated goodwill impairment charges of $210.7 million as of January 1, 2022 and July 3, 2021. Intangible Assets Intangible assets consist of the following: January 1, 2022 July 3, 2021 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 100.5 $ (40.2) $ 60.3 $ 100.5 $ (36.9) $ 63.6 Intangible assets not subject to amortization: Trademarks and trade names 1,309.8 — 1,309.8 1,309.8 — 1,309.8 Total intangible assets $ 1,410.3 $ (40.2) $ 1,370.1 $ 1,410.3 $ (36.9) $ 1,373.4 As of January 1, 2022 , the expected amortization expense for intangible assets is as follows: Amortization Expense (millions) Remainder of fiscal 2022 $ 3.2 Fiscal 2023 6.5 Fiscal 2024 6.5 Fiscal 2025 6.5 Fiscal 2026 6.5 Fiscal 2027 6.5 Thereafter 24.6 Total $ 60.3

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jan. 01, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY A reconciliation of stockholders' equity is presented below: Shares of Common Stock Additional Retained Earnings / (Accumulated Deficit) Accumulated Total (millions, except per share data) Balance at June 27, 2020 276.2 $ 2.8 $ 3,358.5 $ (992.7) $ (92.2) $ 2,276.4 Net income (loss) — — — 231.7 — 231.7 Other comprehensive income (loss) — — — — 15.7 15.7 Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 1.2 — (8.3) — — (8.3) Share-based compensation — — 14.6 — — 14.6 Balance at September 26, 2020 277.4 $ 2.8 $ 3,364.8 $ (761.0) $ (76.5) $ 2,530.1 Net income (loss) — — — 311.0 — 311.0 Other comprehensive income (loss) — — — — 26.1 26.1 Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 0.4 — 6.1 — — 6.1 Share-based compensation — — 17.4 — — 17.4 Balance at December 26, 2020 277.8 $ 2.8 $ 3,388.3 $ (450.0) $ (50.4) $ 2,890.7 Shares of Common Stock Additional Retained Earnings / (Accumulated Deficit) Accumulated Total (millions, except per share data) Balance at July 3, 2021 279.5 $ 2.8 $ 3,487.0 $ (158.5) $ (72.0) $ 3,259.3 Net income (loss) — — — 226.9 — 226.9 Other comprehensive income (loss) — — — — (10.1) (10.1) Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 1.6 — (26.4) — — (26.4) Share-based compensation — — 19.9 — — 19.9 Repurchase of common stock (6.1) — — (250.0) — (250.0) Dividends declared ($0.25 per share) — — — (69.6) — (69.6) Balance at October 2, 2021 275.0 $ 2.8 $ 3,480.5 $ (251.2) $ (82.1) $ 3,150.0 Net income (loss) — — — 317.9 — 317.9 Other comprehensive income (loss) — — — — (13.6) (13.6) Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 0.7 — 19.0 — — 19.0 Share-based compensation — — 22.0 — — 22.0 Repurchase and retirement of common stock (11.7) (0.2) — (499.8) — (500.0) Dividends declared ($0.25 per share) — — — (67.9) — (67.9) Balance at January 1, 2022 264.0 $ 2.6 $ 3,521.5 $ (501.0) $ (95.7) $ 2,927.4 The components of accumulated other comprehensive income (loss) ("AOCI"), as of the dates indicated, are as follows: Unrealized Gains (Losses) on Cash Flow Hedging Derivatives (1) Unrealized Gains Cumulative Total (millions) Balances at June 27, 2020 $ 1.1 $ — $ (93.3) $ (92.2) Other comprehensive income (loss) before reclassifications (6.1) — 47.1 41.0 Less: amounts reclassified from accumulated other comprehensive income to earnings (0.8) — — (0.8) Net current-period other comprehensive income (loss) (5.3) — 47.1 41.8 Balances at December 26, 2020 $ (4.2) $ — $ (46.2) $ (50.4) Balances at July 3, 2021 $ (0.7) $ — $ (71.3) $ (72.0) Other comprehensive income (loss) before reclassifications (1.6) (0.3) (22.8) (24.7) Less: amounts reclassified from accumulated other comprehensive income to earnings (1.0) — — (1.0) Net current-period other comprehensive income (loss) (0.6) (0.3) (22.8) (23.7) Balances at January 1, 2022 $ (1.3) $ (0.3) $ (94.1) $ (95.7) (1) The ending balances of AOCI related to cash flow hedges are net of tax of $0.6 million and less than $0.1 million as of January 1, 2022 and December 26, 2020, respectively. The amounts reclassified from AOCI are net of tax of $0.3 million and less than $0.1 million as of January 1, 2022 and December 26, 2020, respectively.

Leases

Leases	6 Months Ended
	Jan. 01, 2022
Leases [Abstract]
Leases	LEASES The Company leases retail space, office space, warehouse facilities, fulfillment centers, storage space, machinery, equipment and certain other items under operating leases. The Company's leases have initial terms ranging from 1 to 20 years and may have renewal or early termination options ranging from 1 to 10 years. These leases may also include rent escalation clauses or lease incentives. In determining the lease term used in the lease right-of-use ("ROU") asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance (i.e., percentage-of-sales-based payments), or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees, and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities. The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company is required to use the implicit rate to determine the present value of lease payments. As the rate implicit in the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. The Company acts as sublessor in certain leasing arrangements, primarily related to a sublease of a portion the Company's leased headquarters space as well as certain retail locations. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment. The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, July 3, Location Recorded on Balance Sheet (millions) Assets: Operating leases $ 1,403.6 $ 1,496.6 Operating lease right-of-use assets Finance leases 2.2 2.6 Property and equipment, net Total lease assets $ 1,405.8 $ 1,499.2 Liabilities: Operating leases: Current lease liabilities $ 308.0 $ 319.4 Current lease liabilities Long-term lease liabilities 1,414.8 1,525.9 Long-term lease liabilities Total operating lease liabilities $ 1,722.8 $ 1,845.3 Finance leases: Current lease liabilities $ 1.0 $ 1.0 Accrued liabilities Long-term lease liabilities 3.0 3.4 Other liabilities Total finance lease liabilities $ 4.0 $ 4.4 Total lease liabilities $ 1,726.8 $ 1,849.7 The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Condensed Consolidated Statements of Operations for the three and six months January 1, 2022 and December 26, 2020: Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 (millions) Finance lease cost: Amortization of right-of-use assets $ 0.3 $ 0.2 $ 0.5 $ 0.4 Interest on lease liabilities (1) 0.1 0.2 0.2 0.3 Total finance lease cost 0.4 0.4 0.7 0.7 Operating lease cost 85.8 89.1 170.7 175.9 Short-term lease cost 5.1 7.0 9.6 13.1 Variable lease cost (2) 55.2 16.4 98.8 57.3 Operating lease right-of-use impairment — 2.1 — 2.1 Less: sublease income (5.2) (5.0) (10.1) (9.2) Total net lease cost $ 141.3 $ 110.0 $ 269.7 $ 239.9 (1) Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations. (2) Rent concessions negotiated related to Covid-19 are recorded in variable lease expense. The following table summarizes certain cash flow information related to the Company's leases for the six months January 1, 2022 and December 26, 2020: Six Months Ended January 1, 2022 December 26, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 214.3 $ 269.0 Operating cash flows from finance leases 0.2 0.3 Financing cash flows from finance leases 0.5 0.4 Non-cash transactions: Right-of-use assets obtained in exchange for operating lease liabilities 65.4 39.8
Leases	LEASES The Company leases retail space, office space, warehouse facilities, fulfillment centers, storage space, machinery, equipment and certain other items under operating leases. The Company's leases have initial terms ranging from 1 to 20 years and may have renewal or early termination options ranging from 1 to 10 years. These leases may also include rent escalation clauses or lease incentives. In determining the lease term used in the lease right-of-use ("ROU") asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance (i.e., percentage-of-sales-based payments), or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees, and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities. The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company is required to use the implicit rate to determine the present value of lease payments. As the rate implicit in the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. The Company acts as sublessor in certain leasing arrangements, primarily related to a sublease of a portion the Company's leased headquarters space as well as certain retail locations. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment. The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, July 3, Location Recorded on Balance Sheet (millions) Assets: Operating leases $ 1,403.6 $ 1,496.6 Operating lease right-of-use assets Finance leases 2.2 2.6 Property and equipment, net Total lease assets $ 1,405.8 $ 1,499.2 Liabilities: Operating leases: Current lease liabilities $ 308.0 $ 319.4 Current lease liabilities Long-term lease liabilities 1,414.8 1,525.9 Long-term lease liabilities Total operating lease liabilities $ 1,722.8 $ 1,845.3 Finance leases: Current lease liabilities $ 1.0 $ 1.0 Accrued liabilities Long-term lease liabilities 3.0 3.4 Other liabilities Total finance lease liabilities $ 4.0 $ 4.4 Total lease liabilities $ 1,726.8 $ 1,849.7 The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Condensed Consolidated Statements of Operations for the three and six months January 1, 2022 and December 26, 2020: Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 (millions) Finance lease cost: Amortization of right-of-use assets $ 0.3 $ 0.2 $ 0.5 $ 0.4 Interest on lease liabilities (1) 0.1 0.2 0.2 0.3 Total finance lease cost 0.4 0.4 0.7 0.7 Operating lease cost 85.8 89.1 170.7 175.9 Short-term lease cost 5.1 7.0 9.6 13.1 Variable lease cost (2) 55.2 16.4 98.8 57.3 Operating lease right-of-use impairment — 2.1 — 2.1 Less: sublease income (5.2) (5.0) (10.1) (9.2) Total net lease cost $ 141.3 $ 110.0 $ 269.7 $ 239.9 (1) Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations. (2) Rent concessions negotiated related to Covid-19 are recorded in variable lease expense. The following table summarizes certain cash flow information related to the Company's leases for the six months January 1, 2022 and December 26, 2020: Six Months Ended January 1, 2022 December 26, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 214.3 $ 269.0 Operating cash flows from finance leases 0.2 0.3 Financing cash flows from finance leases 0.5 0.4 Non-cash transactions: Right-of-use assets obtained in exchange for operating lease liabilities 65.4 39.8
Leases	LEASES The Company leases retail space, office space, warehouse facilities, fulfillment centers, storage space, machinery, equipment and certain other items under operating leases. The Company's leases have initial terms ranging from 1 to 20 years and may have renewal or early termination options ranging from 1 to 10 years. These leases may also include rent escalation clauses or lease incentives. In determining the lease term used in the lease right-of-use ("ROU") asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance (i.e., percentage-of-sales-based payments), or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees, and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities. The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company is required to use the implicit rate to determine the present value of lease payments. As the rate implicit in the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. The Company acts as sublessor in certain leasing arrangements, primarily related to a sublease of a portion the Company's leased headquarters space as well as certain retail locations. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment. The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, July 3, Location Recorded on Balance Sheet (millions) Assets: Operating leases $ 1,403.6 $ 1,496.6 Operating lease right-of-use assets Finance leases 2.2 2.6 Property and equipment, net Total lease assets $ 1,405.8 $ 1,499.2 Liabilities: Operating leases: Current lease liabilities $ 308.0 $ 319.4 Current lease liabilities Long-term lease liabilities 1,414.8 1,525.9 Long-term lease liabilities Total operating lease liabilities $ 1,722.8 $ 1,845.3 Finance leases: Current lease liabilities $ 1.0 $ 1.0 Accrued liabilities Long-term lease liabilities 3.0 3.4 Other liabilities Total finance lease liabilities $ 4.0 $ 4.4 Total lease liabilities $ 1,726.8 $ 1,849.7 The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Condensed Consolidated Statements of Operations for the three and six months January 1, 2022 and December 26, 2020: Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 (millions) Finance lease cost: Amortization of right-of-use assets $ 0.3 $ 0.2 $ 0.5 $ 0.4 Interest on lease liabilities (1) 0.1 0.2 0.2 0.3 Total finance lease cost 0.4 0.4 0.7 0.7 Operating lease cost 85.8 89.1 170.7 175.9 Short-term lease cost 5.1 7.0 9.6 13.1 Variable lease cost (2) 55.2 16.4 98.8 57.3 Operating lease right-of-use impairment — 2.1 — 2.1 Less: sublease income (5.2) (5.0) (10.1) (9.2) Total net lease cost $ 141.3 $ 110.0 $ 269.7 $ 239.9 (1) Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations. (2) Rent concessions negotiated related to Covid-19 are recorded in variable lease expense. The following table summarizes certain cash flow information related to the Company's leases for the six months January 1, 2022 and December 26, 2020: Six Months Ended January 1, 2022 December 26, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 214.3 $ 269.0 Operating cash flows from finance leases 0.2 0.3 Financing cash flows from finance leases 0.5 0.4 Non-cash transactions: Right-of-use assets obtained in exchange for operating lease liabilities 65.4 39.8

Earnings per Share

Earnings per Share	6 Months Ended
	Jan. 01, 2022
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 Six Months Ended January 1, December 26, January 1, December 26, (millions, except per share data) Net income (loss) $ 317.9 $ 311.0 $ 544.8 $ 542.7 Weighted-average basic shares 271.1 277.5 274.5 277.1 Dilutive securities: Effect of dilutive securities 6.1 3.5 6.5 2.3 Weighted-average diluted shares 277.2 281.0 281.0 279.4 Net income (loss) per share: Basic $ 1.17 $ 1.12 $ 1.98 $ 1.96 Diluted $ 1.15 $ 1.11 $ 1.94 $ 1.94 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 (loss) 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

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jan. 01, 2022
Share-based Payment Arrangement [Abstract]
Share-based Compensation	SHARE-BASED COMPENSATION The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated: Three Months Ended Six Months Ended January 1, December 26, January 1, December 26, (millions) Share-based compensation expense (1) $ 22.0 $ 17.4 $ 41.9 $ 32.0 Income tax benefit related to share-based compensation expense 4.2 3.2 8.0 5.8 (1) During the three and six months ended January 1, 2022, the company incurred $3.4 million and $8.4 million of share-based compensation expense related to its Acceleration Program. During the three and six months ended December 26, 2020, the Company incurred $2.5 million and $3.1 million of share-based compensation expense related to its Acceleration Program. Stock Options A summary of stock option activity during the six months ended January 1, 2022 is as follows: Number of (millions) Outstanding at July 3, 2021 13.3 Granted 0.7 Exercised (0.8) Forfeited or expired (0.8) Outstanding at January 1, 2022 12.4 The weighted-average grant-date fair value of options granted during the six months ended January 1, 2022 and December 26, 2020 was $13.94 and $7.03, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions: January 1, December 26, Expected term (years) 5.0 5.1 Expected volatility 46.9 % 48.8 % Risk-free interest rate 0.8 % 0.3 % Dividend yield 2.4 % — % Service-based Restricted Stock Unit Awards ("RSUs") A summary of service-based RSU activity during the six months ended January 1, 2022 is as follows: Number of (millions) Non-vested at July 3, 2021 7.3 Granted 1.8 Vested (2.2) Forfeited (0.3) Non-vested at January 1, 2022 6.6 The weighted-average grant-date fair value of share awards granted during the six months ended January 1, 2022 and December 26, 2020 was $42.15 and $15.92, respectively. Performance-based Restricted Stock Unit Awards ("PRSUs") A summary of PRSU activity during the six months ended January 1, 2022 is as follows: Number of (millions) Non-vested at July 3, 2021 1.0 Granted 0.3 Change due to performance condition achievement (0.1) Vested — Forfeited — Non-vested at January 1, 2022 1.2 The PRSU awards included in the non-vested amount are based on certain Company-specific financial metrics. The effect of the change due to performance condition on the non-vested amount is recognized at the conclusion of the performance period, which may differ from the date on which the award vests. The weighted-average grant-date fair value per share of PRSU awards granted during the six months ended January 1, 2022 and December 26, 2020 was $42.23 and $16.62, respectively.

Debt

Debt	6 Months Ended
	Jan. 01, 2022
Debt Disclosure [Abstract]
Debt	DEBT The following table summarizes the components of the Company’s outstanding debt: January 1, July 3, (millions) Current debt: 3.000% Senior Notes due 2022 $ 400.0 $ — Total current debt $ 400.0 $ — Long-term debt: 3.050% Senior Notes due 2032 $ 500.0 $ — 4.125% Senior Notes due 2027 396.6 600.0 3.000% Senior Notes due 2022 — 400.0 4.250% Senior Notes due 2025 303.4 600.0 Total long-term debt 1,200.0 1,600.0 Less: Unamortized discount and debt issuance costs on Senior Notes (10.9) (9.3) Total long-term debt, net $ 1,189.1 $ 1,590.7 During the three and six months ended January 1, 2022, the Company recognized interest expense related to its debt of $16.3 million and $33.1 million, respectively. During the three and six months ended December 26, 2020, the Company recognized interest expense related to its debt of $19.2 million and $39.3 million, respectively. 3.050% Senior Notes due 2032 On December 1, 2021, the Company issued $500.0 million aggregate principal amount of 3.050% senior unsecured notes due March 15, 2032 at 99.705% of par (the "2032 Senior Notes"). Interest is payable semi-annually on March 15 and September 15 beginning March 15, 2022. Prior to December 15, 2031 (the date that is three months prior to the scheduled maturity date), the Company may redeem the 2032 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 2032 Senior Notes to be redeemed or (2) as determined by a Quotation Agent, 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 2032 Senior Notes calculated as if the maturity date of the 2032 Senior Notes was December 15, 2031 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined in the Prospectus Supplement) plus 25 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date. Cash Tender Offer The proceeds from the 2032 Senior Notes were utilized to complete a cash tender offer of $203.4 million and $296.6 million of the outstanding aggregate principal amount of the Company's 2027 Senior Notes (defined below under "4.125% Senior Notes due 2027") and 2025 Senior Notes (defined below under "4.250% Senior Notes due 2025"), respectively. As a result of these cash tender offers completed prior to their scheduled maturities, the transactions were subject to a premium of $22.4 million and $26.8 million for the 2027 Senior Notes and 2025 Senior Notes, respectively. Additionally, the Company recognized $4.5 million of debt issuance costs, tender fees, and unamortized original discount in connection with the transaction. These premiums and costs, which totaled $53.7 million, were recorded as a pre-tax debt extinguishment charge during the second quarter of fiscal 2022. Refer to the "GAAP to Non-GAAP Reconciliation," in Item 2. "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for additional information. 4.125% Senior Notes due 2027 On June 20, 2017, the Company issued $600.0 million aggregate principal amount of 4.125% senior unsecured notes due July 15, 2027 at 99.858% of par (the "2027 Senior Notes"). Interest is payable semi-annually on January 15 and July 15 beginning January 15, 2018. Prior to April 15, 2027 (the date that is three months prior to the scheduled maturity date), the Company may redeem the 2027 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 2027 Senior Notes to be redeemed or (2) as determined by a Quotation Agent, 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 2027 Senior Notes calculated as if the maturity date of the 2027 Senior Notes was April 15, 2027 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined in the Prospectus Supplement) plus 30 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date. On December 1, 2021, the Company completed a cash tender offer for $203.4 million of the outstanding aggregate principal amount of its 2027 Senior Notes. 3.000% Senior Notes due 2022 On June 20, 2017, the Company issued $400.0 million aggregate principal amount of 3.000% senior unsecured notes due July 15, 2022 at 99.505% of par (the "2022 Senior Notes"). Interest is payable semi-annually on January 15 and July 15 beginning January 15, 2018. Prior to June 15, 2022 (one month prior to the scheduled maturity date), the Company may redeem the 2022 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 2022 Senior Notes to be redeemed or (2) as determined by a Quotation Agent, 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 2022 Senior Notes calculated as if the maturity date of the 2022 Senior Notes was June 15, 2022 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined in the Prospectus Supplement) plus 25 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date. 4.250% Senior Notes due 2025 On March 2, 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 “2025 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 2025 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 2025 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 2025 Senior Notes calculated as if the maturity date of the 2025 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 2025 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 2025 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 2025 Senior Notes to be redeemed, plus accrued and unpaid interest to the redemption date. On December 1, 2021, the Company completed a cash tender offer for $296.6 million of the outstanding aggregate principal amount of its 2025 Senior Notes. At January 1, 2022, the fair value of the 2032, 2027, 2022, and 2025 Senior Notes was approximately $502.3 million, $428.0 million, $404.0 million, and $322.4 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. At July 3, 2021, the fair value of the 2027, 2022, and 2025 Senior Notes was approximately $659.3 million, $407.4 million, and $651.9 million, respectively. Revolving Credit Facility On October 24, 2019, the Company entered into a definitive credit agreement whereby Bank of America, N.A., as administrative agent, the other agents party thereto, and a syndicate of banks and financial institutions have made available to the Company a $900.0 million revolving credit facility ("Revolving Credit Facility"), including sub-facilities for letters of credit, with a maturity date of October 24, 2024. The Revolving Credit Facility may be used to finance the working capital needs, capital expenditures, permitted investments, share purchases, dividends and other general corporate purposes of the Company and its subsidiaries (which may include commercial paper back-up). Letters of credit and swing line loans may be issued under the Revolving Credit Facility as described below. Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to, at the Borrowers’ option, either (a) 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% or (b) 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, in each case, an applicable margin. The applicable margin will be determined by reference to a grid, as defined in the Credit Agreement, based on the ratio of (a) consolidated debt plus operating lease liability

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 01, 2022
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 Company does not have any Level 3 investments. The following table shows the fair value measurements of the Company’s financial assets and liabilities at January 1, 2022 and July 3, 2021: Level 1 Level 2 January 1, July 3, January 1, July 3, (millions) Assets: Cash equivalents (1) $ 104.3 $ 662.0 $ 0.4 $ 0.4 Short-term investments : Time deposits (2) — — 0.7 0.7 Commercial paper (2) — — 113.6 — Government securities - U.S. (2) 97.5 — 9.0 — Corporate debt securities - U.S. (2) — — 160.0 — Other — — 9.5 7.4 Long-term investments : Other — — 0.1 0.1 Derivative assets : Intercompany loan and payable hedges (3) — — 0.1 0.3 Liabilities: Derivative liabilities : Inventory-related instruments (3) — — 1.5 1.2 Intercompany loan and payable hedges (3) — — 0.7 — (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 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) 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 11, "Debt," for the fair value of the Company's outstanding debt instruments. Non-Financial Assets and Liabilities The Company’s non-financial instruments, which primarily consist of goodwill, intangible assets, right-of-use 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	6 Months Ended
	Jan. 01, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, 2022 July 3, 2021 Short-term Long-term Total Short-term Long-term Total (millions) Available-for-sale investments: Commercial paper (1) $ 113.6 $ — $ 113.6 $ — $ — $ — Government securities - U.S. (2) 106.5 — 106.5 — — — Corporate debt securities - U.S. (2) 160.0 — 160.0 — — — Available-for-sale investments, total $ 380.1 $ — $ 380.1 $ — $ — $ — Other: Time deposits (1) $ 0.7 $ — $ 0.7 $ 0.7 $ — $ 0.7 Other 9.5 0.1 9.6 7.4 0.1 7.5 Total Investments $ 390.3 $ 0.1 $ 390.4 $ 8.1 $ 0.1 $ 8.2 (1) These securities have original maturities greater than three months and are recorded at fair value. (2) These securities as of January 1, 2022 have maturity dates during the 2022 calendar year and are recorded at fair value. There were no material gross unrealized gains or losses on available-for-sale investments as of the periods ended January 1, 2022 and July 3, 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jan. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXESThe Company's effective tax rate for the three months ended January 1, 2022 was 18.5%, as compared to 16.9% for the three months ended December 26, 2020. The increase in effective tax rate is primarily due to geographic mix of earnings. The Company's effective tax rate for the six months ended January 1, 2022 was 18.3%, as compared to 3.0% for the six months ended December 26, 2020. This increase in the effective tax rate primarily resulted from the net operating loss ("NOL") carryback claim recognized under the Coronavirus Aid, Relief and Economic Security ("CARES") Act during the six months ended December 26, 2020.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jan. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit The Company had standby letters of credit, surety bonds and bank guarantees totaling $39.0 million and $40.5 million outstanding at January 1, 2022 and July 3, 2021, respectively. The agreements, which expire at various dates through calendar 2027, primarily collateralize the Company's obligation to third parties for duty, leases, insurance claims and materials used in product manufacturing. The Company pays certain fees with respect to these instruments that are issued. Other The Company had other contractual cash obligations as of January 1, 2022 related to debt repayments. Refer to Note 11, "Debt," for further information. Additionally, the Company had future payment obligations related to executed lease agreements for which the related lease had not yet commenced. Refer to Note 8, "Leases," for further information. The Company is involved in various routine legal proceedings as both plaintiff and defendant incident to the ordinary course of its business, including proceedings to protect Tapestry's intellectual property rights, litigation instituted by persons alleged to have been injured by advertising claims or upon premises within the Company’s control, contractual disputes, insurance claims and litigation with present or former employees. As part of Tapestry’s policing program for its intellectual property rights, from time to time, the Company files lawsuits in the U.S. and abroad alleging acts of trademark counterfeiting, trademark infringement, patent infringement, trade dress infringement, copyright infringement, unfair competition, trademark dilution and/or state or foreign law claims. At any given point in time, Tapestry may have a number of such actions pending. These actions often result in seizure of counterfeit merchandise and/or out of court settlements with defendants. From time to time, defendants will raise, either as affirmative defenses or as counterclaims, the invalidity or unenforceability of certain of Tapestry’s intellectual properties. Although the Company's litigation as described above is routine and incidental to the conduct of Tapestry’s business, such litigation can result in large monetary awards, such as when a civil jury is allowed to determine compensatory and/or punitive damages. The Company believes that the outcome of all pending legal proceedings in the aggregate will not have a material effect on the Company's business or condensed consolidated financial statements.

Segment Information

Segment Information	6 Months Ended
	Jan. 01, 2022
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company has three reportable segments: • Coach - Includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third party distributors. • Kate Spade - Includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. • Stuart Weitzman - Includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, including e-commerce sites, sales to wholesale customers and through numerous independent third party distributors. In deciding how to allocate resources and assess performance, the Company's chief operating decision maker regularly evaluates the sales and operating income of these segments. Operating income is the gross margin of the segment less direct expenses of the segment. The following table summarizes segment performance for the three and six months ended January 1, 2022 and December 26, 2020: Coach Kate Stuart Weitzman Corporate (1) Total (millions) Three Months Ended January 1, 2022 Net sales $ 1,525.0 $ 500.4 $ 115.8 $ — $ 2,141.2 Gross profit 1,078.2 308.0 71.2 — 1,457.4 Operating income (loss) 473.3 83.7 13.3 (107.5) 462.8 Income (loss) before provision for income taxes 473.3 83.7 13.3 (180.2) 390.1 Depreciation and amortization expense (2) 19.4 10.2 2.1 17.1 48.8 Additions to long-lived assets (3) 17.7 5.7 0.9 14.0 38.3 Three Months Ended December 26, 2020 Net sales $ 1,225.3 $ 375.6 $ 84.5 $ — $ 1,685.4 Gross profit 888.1 233.1 52.5 — 1,173.7 Operating income (loss) 412.0 58.8 11.9 (93.3) 389.4 Income (loss) before provision for income taxes 412.0 58.8 11.9 (108.4) 374.3 Depreciation and amortization expense (2) 23.5 11.3 3.0 13.7 51.5 Additions to long-lived assets (3) 8.8 4.0 0.8 10.1 23.7 Six Months Ended January 1, 2022 Net sales $ 2,639.9 $ 799.9 $ 182.3 $ — $ 3,622.1 Gross profit 1,909.2 507.2 109.7 — 2,526.1 Operating income (loss) 839.0 120.9 11.8 (213.9) 757.8 Income (loss) before provision for income taxes 839.0 120.9 11.8 (304.9) 666.8 Depreciation and amortization expense (2) 40.1 21.0 4.3 34.2 99.6 Additions to long-lived assets (3) 30.5 6.7 1.1 33.4 71.7 Six Months Ended December 26, 2020 Net sales $ 2,100.7 $ 616.0 $ 140.9 $ — $ 2,857.6 Gross profit 1,533.0 387.2 83.7 — 2,003.9 Operating income (loss) 682.0 82.0 11.9 (184.3) 591.6 Income (loss) before provision for income taxes 682.0 82.0 11.9 (216.2) 559.7 Depreciation and amortization expense (2) 48.3 21.7 5.4 27.3 102.7 Additions to long-lived assets (3) 19.7 8.6 1.3 20.1 49.7 (1) Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a brand. These costs primarily include administration and certain information systems expense. (2) Depreciation and amortization expense includes $0.3 million of Acceleration Program costs for the three and six months ended December 26, 2020. Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.

Basis of Presentation and Org_2

Basis of Presentation and Organization (Policies)	6 Months Ended
	Jan. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Periods	Fiscal PeriodsThe Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2022 will be a 52-week period. Fiscal 2021, ended on July 3, 2021, was a 53-week period. The second quarter of fiscal 2022 ended on January 1, 2022 and the second quarter of fiscal 2021 ended on December 26, 2020, both of which were 13-week periods.
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 condensed consolidated 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; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes and related uncertain tax positions; accounting for business combinations; the valuation of stock-based compensation awards and related expected forfeiture rates; reserves for restructuring; and reserves for litigation and other contingencies, amongst others.
Principles of Consolidation	Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned and controlled subsidiaries. All intercompany transactions and balances are eliminated in consolidation.
Share Repurchases	Share Repurchases The Company accounts for stock repurchases by allocating the repurchase price to common stock and retained earnings. Under Maryland law, the Company's state of incorporation, there are no treasury shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. Purchases of the Company's common stock are executed through open market purchases, including through a purchase agreement under Rule 10b5-1. The Company may terminate or limit the share repurchase program at any time. As a result, all repurchased shares are authorized but unissued shares. The Company may terminate or limit the stock repurchase program at any time.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in Topic 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for the step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 as of the beginning of fiscal 2022. The adoption of ASU 2019-12 did not have a material impact on the Company's condensed consolidated financial statements and notes thereto. Recently Issued Accounting Pronouncements

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jan. 01, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates the Company's net sales into geographies that depict how economic factors may impact the revenues and cash flows for the periods presented. Each geography presented includes net sales related to the Company's directly operated channels, global travel retail business and to wholesale customers, including distributors, in locations within the specified geographic area. North America Greater China (1) Other Asia (2) Other (3) Total (millions) Three Months Ended January 1, 2022 Coach $ 1,011.2 $ 258.7 $ 201.6 $ 53.5 $ 1,525.0 Kate Spade 415.7 11.6 42.4 30.7 500.4 Stuart Weitzman 67.2 38.2 — 10.4 115.8 Total $ 1,494.1 $ 308.5 $ 244.0 $ 94.6 $ 2,141.2 Three Months Ended December 26, 2020 Coach $ 742.6 $ 242.6 $ 188.0 $ 52.1 $ 1,225.3 Kate Spade 303.7 13.4 35.6 22.9 375.6 Stuart Weitzman 41.9 35.6 0.3 6.7 84.5 Total $ 1,088.2 $ 291.6 $ 223.9 $ 81.7 $ 1,685.4 Six Months Ended January 1, 2022 Coach $ 1,692.9 $ 500.7 $ 338.5 $ 107.8 $ 2,639.9 Kate Spade 647.9 23.3 69.2 59.5 799.9 Stuart Weitzman 102.9 60.9 0.3 18.2 182.3 Total $ 2,443.7 $ 584.9 $ 408.0 $ 185.5 $ 3,622.1 Six Months Ended December 26, 2020 Coach $ 1,209.3 $ 438.8 $ 350.3 $ 102.3 $ 2,100.7 Kate Spade 476.0 27.2 70.0 42.8 616.0 Stuart Weitzman 68.2 53.3 2.8 16.6 140.9 Total $ 1,753.5 $ 519.3 $ 423.1 $ 161.7 $ 2,857.6 (1) Greater China includes mainland China, Hong Kong SAR, Taiwan and Macao SAR. (2) Other Asia includes Japan, Australia, New Zealand, South Korea, Thailand and other countries within Asia.

Restructuring Activities (Table

Restructuring Activities (Tables)	6 Months Ended
	Jan. 01, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	A summary of charges and related liabilities under the Acceleration Program is as follows: Organization-Related (1) Store Closure (2) Other (3) Total (millions) Fiscal 2020 charges $ 44.7 $ 32.3 $ 10.0 $ 87.0 Cash payments (15.8) (11.0) (7.1) (33.9) Non-cash charges (4.0) (20.8) — (24.8) Liability balance as of June 27, 2020 $ 24.9 $ 0.5 $ 2.9 $ 28.3 Fiscal 2021 charges 16.6 5.9 67.1 89.6 Cash payments (38.2) (11.9) (36.6) (86.7) Non-cash charges — 5.8 (10.9) (5.1) Liability balance as of July 3, 2021 $ 3.3 $ 0.3 $ 22.5 $ 26.1 Fiscal 2022 charges $ — $ 3.3 $ 22.1 $ 25.4 Cash payments (1.2) (2.0) (11.8) (15.0) Non-cash charges — 2.4 (8.4) (6.0) Liability balance as of January 1, 2022 $ 2.1 $ 4.0 $ 24.4 $ 30.5 (1) Organization-related charges, recorded within SG&A expenses, primarily relates to severance and other related costs. (2) Store closure charges represent lease termination penalties, removal or modification of lease assets and liabilities, establishing inventory reserves, accelerated depreciation and severance. (3) Other charges, recorded within SG&A, primarily relates to professional fees and share-based compensation.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of Goodwill by Segment	The change in the carrying amount of the Company’s goodwill by segment is as follows: Coach Kate Spade Stuart Weitzman (1) Total (millions) Balance at July 3, 2021 $ 656.3 $ 641.0 $ — $ 1,297.3 Foreign exchange impact (10.1) (2.0) — (12.1) Balance at January 1, 2022 $ 646.2 $ 639.0 $ — $ 1,285.2 (1) Amount is net of accumulated goodwill impairment charges of $210.7 million as of January 1, 2022 and July 3, 2021.
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consist of the following: January 1, 2022 July 3, 2021 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 100.5 $ (40.2) $ 60.3 $ 100.5 $ (36.9) $ 63.6 Intangible assets not subject to amortization: Trademarks and trade names 1,309.8 — 1,309.8 1,309.8 — 1,309.8 Total intangible assets $ 1,410.3 $ (40.2) $ 1,370.1 $ 1,410.3 $ (36.9) $ 1,373.4
Schedule of Finite-Lived Intangible Assets	Intangible assets consist of the following: January 1, 2022 July 3, 2021 Gross Accum. Net Gross Accum. Net (millions) Intangible assets subject to amortization: Customer relationships $ 100.5 $ (40.2) $ 60.3 $ 100.5 $ (36.9) $ 63.6 Intangible assets not subject to amortization: Trademarks and trade names 1,309.8 — 1,309.8 1,309.8 — 1,309.8 Total intangible assets $ 1,410.3 $ (40.2) $ 1,370.1 $ 1,410.3 $ (36.9) $ 1,373.4
Schedule of Expected Amortization Expense	As of January 1, 2022 , the expected amortization expense for intangible assets is as follows: Amortization Expense (millions) Remainder of fiscal 2022 $ 3.2 Fiscal 2023 6.5 Fiscal 2024 6.5 Fiscal 2025 6.5 Fiscal 2026 6.5 Fiscal 2027 6.5 Thereafter 24.6 Total $ 60.3

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jan. 01, 2022
Stockholders' Equity Note [Abstract]
Reconciliation of Stockholders Equity	A reconciliation of stockholders' equity is presented below: Shares of Common Stock Additional Retained Earnings / (Accumulated Deficit) Accumulated Total (millions, except per share data) Balance at June 27, 2020 276.2 $ 2.8 $ 3,358.5 $ (992.7) $ (92.2) $ 2,276.4 Net income (loss) — — — 231.7 — 231.7 Other comprehensive income (loss) — — — — 15.7 15.7 Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 1.2 — (8.3) — — (8.3) Share-based compensation — — 14.6 — — 14.6 Balance at September 26, 2020 277.4 $ 2.8 $ 3,364.8 $ (761.0) $ (76.5) $ 2,530.1 Net income (loss) — — — 311.0 — 311.0 Other comprehensive income (loss) — — — — 26.1 26.1 Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 0.4 — 6.1 — — 6.1 Share-based compensation — — 17.4 — — 17.4 Balance at December 26, 2020 277.8 $ 2.8 $ 3,388.3 $ (450.0) $ (50.4) $ 2,890.7 Shares of Common Stock Additional Retained Earnings / (Accumulated Deficit) Accumulated Total (millions, except per share data) Balance at July 3, 2021 279.5 $ 2.8 $ 3,487.0 $ (158.5) $ (72.0) $ 3,259.3 Net income (loss) — — — 226.9 — 226.9 Other comprehensive income (loss) — — — — (10.1) (10.1) Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 1.6 — (26.4) — — (26.4) Share-based compensation — — 19.9 — — 19.9 Repurchase of common stock (6.1) — — (250.0) — (250.0) Dividends declared ($0.25 per share) — — — (69.6) — (69.6) Balance at October 2, 2021 275.0 $ 2.8 $ 3,480.5 $ (251.2) $ (82.1) $ 3,150.0 Net income (loss) — — — 317.9 — 317.9 Other comprehensive income (loss) — — — — (13.6) (13.6) Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes 0.7 — 19.0 — — 19.0 Share-based compensation — — 22.0 — — 22.0 Repurchase and retirement of common stock (11.7) (0.2) — (499.8) — (500.0) Dividends declared ($0.25 per share) — — — (67.9) — (67.9) Balance at January 1, 2022 264.0 $ 2.6 $ 3,521.5 $ (501.0) $ (95.7) $ 2,927.4
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) ("AOCI"), as of the dates indicated, are as follows: Unrealized Gains (Losses) on Cash Flow Hedging Derivatives (1) Unrealized Gains Cumulative Total (millions) Balances at June 27, 2020 $ 1.1 $ — $ (93.3) $ (92.2) Other comprehensive income (loss) before reclassifications (6.1) — 47.1 41.0 Less: amounts reclassified from accumulated other comprehensive income to earnings (0.8) — — (0.8) Net current-period other comprehensive income (loss) (5.3) — 47.1 41.8 Balances at December 26, 2020 $ (4.2) $ — $ (46.2) $ (50.4) Balances at July 3, 2021 $ (0.7) $ — $ (71.3) $ (72.0) Other comprehensive income (loss) before reclassifications (1.6) (0.3) (22.8) (24.7) Less: amounts reclassified from accumulated other comprehensive income to earnings (1.0) — — (1.0) Net current-period other comprehensive income (loss) (0.6) (0.3) (22.8) (23.7) Balances at January 1, 2022 $ (1.3) $ (0.3) $ (94.1) $ (95.7) (1) The ending balances of AOCI related to cash flow hedges are net of tax of $0.6 million and less than $0.1 million as of January 1, 2022 and December 26, 2020, respectively. The amounts reclassified from AOCI are net of tax of $0.3 million and less than $0.1 million as of January 1, 2022 and December 26, 2020, respectively.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 01, 2022
Leases [Abstract]
Assets And Liabilities, Lessee	The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, July 3, Location Recorded on Balance Sheet (millions) Assets: Operating leases $ 1,403.6 $ 1,496.6 Operating lease right-of-use assets Finance leases 2.2 2.6 Property and equipment, net Total lease assets $ 1,405.8 $ 1,499.2 Liabilities: Operating leases: Current lease liabilities $ 308.0 $ 319.4 Current lease liabilities Long-term lease liabilities 1,414.8 1,525.9 Long-term lease liabilities Total operating lease liabilities $ 1,722.8 $ 1,845.3 Finance leases: Current lease liabilities $ 1.0 $ 1.0 Accrued liabilities Long-term lease liabilities 3.0 3.4 Other liabilities Total finance lease liabilities $ 4.0 $ 4.4 Total lease liabilities $ 1,726.8 $ 1,849.7
Lease, Cost	The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Condensed Consolidated Statements of Operations for the three and six months January 1, 2022 and December 26, 2020: Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 (millions) Finance lease cost: Amortization of right-of-use assets $ 0.3 $ 0.2 $ 0.5 $ 0.4 Interest on lease liabilities (1) 0.1 0.2 0.2 0.3 Total finance lease cost 0.4 0.4 0.7 0.7 Operating lease cost 85.8 89.1 170.7 175.9 Short-term lease cost 5.1 7.0 9.6 13.1 Variable lease cost (2) 55.2 16.4 98.8 57.3 Operating lease right-of-use impairment — 2.1 — 2.1 Less: sublease income (5.2) (5.0) (10.1) (9.2) Total net lease cost $ 141.3 $ 110.0 $ 269.7 $ 239.9 (1) Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations. (2) Rent concessions negotiated related to Covid-19 are recorded in variable lease expense. The following table summarizes certain cash flow information related to the Company's leases for the six months January 1, 2022 and December 26, 2020: Six Months Ended January 1, 2022 December 26, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 214.3 $ 269.0 Operating cash flows from finance leases 0.2 0.3 Financing cash flows from finance leases 0.5 0.4 Non-cash transactions: Right-of-use assets obtained in exchange for operating lease liabilities 65.4 39.8

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jan. 01, 2022
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 Six Months Ended January 1, December 26, January 1, December 26, (millions, except per share data) Net income (loss) $ 317.9 $ 311.0 $ 544.8 $ 542.7 Weighted-average basic shares 271.1 277.5 274.5 277.1 Dilutive securities: Effect of dilutive securities 6.1 3.5 6.5 2.3 Weighted-average diluted shares 277.2 281.0 281.0 279.4 Net income (loss) per share: Basic $ 1.17 $ 1.12 $ 1.98 $ 1.96 Diluted $ 1.15 $ 1.11 $ 1.94 $ 1.94

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jan. 01, 2022
Share-based Payment Arrangement [Abstract]
Compensation Cost Charged Against Income and Related Tax Benefits for Share-based Compensation Plans	The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated: Three Months Ended Six Months Ended January 1, December 26, January 1, December 26, (millions) Share-based compensation expense (1) $ 22.0 $ 17.4 $ 41.9 $ 32.0 Income tax benefit related to share-based compensation expense 4.2 3.2 8.0 5.8 (1) During the three and six months ended January 1, 2022, the company incurred $3.4 million and $8.4 million of share-based compensation expense related to its Acceleration Program. During the three and six months ended December 26, 2020, the Company incurred $2.5 million and $3.1 million of share-based compensation expense related to its Acceleration Program.
Summary of Stock Option Activity	A summary of stock option activity during the six months ended January 1, 2022 is as follows: Number of (millions) Outstanding at July 3, 2021 13.3 Granted 0.7 Exercised (0.8) Forfeited or expired (0.8) Outstanding at January 1, 2022 12.4
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions: January 1, December 26, Expected term (years) 5.0 5.1 Expected volatility 46.9 % 48.8 % Risk-free interest rate 0.8 % 0.3 % Dividend yield 2.4 % — %
Service-based Restricted Stock Unit Awards (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of RSU Activity	A summary of service-based RSU activity during the six months ended January 1, 2022 is as follows: Number of (millions) Non-vested at July 3, 2021 7.3 Granted 1.8 Vested (2.2) Forfeited (0.3) Non-vested at January 1, 2022 6.6
Performance-based Restricted Stock Unit Awards (PRSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of RSU Activity	A summary of PRSU activity during the six months ended January 1, 2022 is as follows: Number of (millions) Non-vested at July 3, 2021 1.0 Granted 0.3 Change due to performance condition achievement (0.1) Vested — Forfeited — Non-vested at January 1, 2022 1.2

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jan. 01, 2022
Debt Disclosure [Abstract]
Summary of the Components of Outstanding Debt	The following table summarizes the components of the Company’s outstanding debt: January 1, July 3, (millions) Current debt: 3.000% Senior Notes due 2022 $ 400.0 $ — Total current debt $ 400.0 $ — Long-term debt: 3.050% Senior Notes due 2032 $ 500.0 $ — 4.125% Senior Notes due 2027 396.6 600.0 3.000% Senior Notes due 2022 — 400.0 4.250% Senior Notes due 2025 303.4 600.0 Total long-term debt 1,200.0 1,600.0 Less: Unamortized discount and debt issuance costs on Senior Notes (10.9) (9.3) Total long-term debt, net $ 1,189.1 $ 1,590.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 01, 2022
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 January 1, 2022 and July 3, 2021: Level 1 Level 2 January 1, July 3, January 1, July 3, (millions) Assets: Cash equivalents (1) $ 104.3 $ 662.0 $ 0.4 $ 0.4 Short-term investments : Time deposits (2) — — 0.7 0.7 Commercial paper (2) — — 113.6 — Government securities - U.S. (2) 97.5 — 9.0 — Corporate debt securities - U.S. (2) — — 160.0 — Other — — 9.5 7.4 Long-term investments : Other — — 0.1 0.1 Derivative assets : Intercompany loan and payable hedges (3) — — 0.1 0.3 Liabilities: Derivative liabilities : Inventory-related instruments (3) — — 1.5 1.2 Intercompany loan and payable hedges (3) — — 0.7 — (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 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) 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.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jan. 01, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the Company's Condensed Consolidated Balance Sheets as of January 1, 2022 and July 3, 2021: January 1, 2022 July 3, 2021 Short-term Long-term Total Short-term Long-term Total (millions) Available-for-sale investments: Commercial paper (1) $ 113.6 $ — $ 113.6 $ — $ — $ — Government securities - U.S. (2) 106.5 — 106.5 — — — Corporate debt securities - U.S. (2) 160.0 — 160.0 — — — Available-for-sale investments, total $ 380.1 $ — $ 380.1 $ — $ — $ — Other: Time deposits (1) $ 0.7 $ — $ 0.7 $ 0.7 $ — $ 0.7 Other 9.5 0.1 9.6 7.4 0.1 7.5 Total Investments $ 390.3 $ 0.1 $ 390.4 $ 8.1 $ 0.1 $ 8.2 (1) These securities have original maturities greater than three months and are recorded at fair value. (2) These securities as of January 1, 2022 have maturity dates during the 2022 calendar year and are recorded at fair value.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jan. 01, 2022
Segment Reporting [Abstract]
Summary of Segment Performance	The following table summarizes segment performance for the three and six months ended January 1, 2022 and December 26, 2020: Coach Kate Stuart Weitzman Corporate (1) Total (millions) Three Months Ended January 1, 2022 Net sales $ 1,525.0 $ 500.4 $ 115.8 $ — $ 2,141.2 Gross profit 1,078.2 308.0 71.2 — 1,457.4 Operating income (loss) 473.3 83.7 13.3 (107.5) 462.8 Income (loss) before provision for income taxes 473.3 83.7 13.3 (180.2) 390.1 Depreciation and amortization expense (2) 19.4 10.2 2.1 17.1 48.8 Additions to long-lived assets (3) 17.7 5.7 0.9 14.0 38.3 Three Months Ended December 26, 2020 Net sales $ 1,225.3 $ 375.6 $ 84.5 $ — $ 1,685.4 Gross profit 888.1 233.1 52.5 — 1,173.7 Operating income (loss) 412.0 58.8 11.9 (93.3) 389.4 Income (loss) before provision for income taxes 412.0 58.8 11.9 (108.4) 374.3 Depreciation and amortization expense (2) 23.5 11.3 3.0 13.7 51.5 Additions to long-lived assets (3) 8.8 4.0 0.8 10.1 23.7 Six Months Ended January 1, 2022 Net sales $ 2,639.9 $ 799.9 $ 182.3 $ — $ 3,622.1 Gross profit 1,909.2 507.2 109.7 — 2,526.1 Operating income (loss) 839.0 120.9 11.8 (213.9) 757.8 Income (loss) before provision for income taxes 839.0 120.9 11.8 (304.9) 666.8 Depreciation and amortization expense (2) 40.1 21.0 4.3 34.2 99.6 Additions to long-lived assets (3) 30.5 6.7 1.1 33.4 71.7 Six Months Ended December 26, 2020 Net sales $ 2,100.7 $ 616.0 $ 140.9 $ — $ 2,857.6 Gross profit 1,533.0 387.2 83.7 — 2,003.9 Operating income (loss) 682.0 82.0 11.9 (184.3) 591.6 Income (loss) before provision for income taxes 682.0 82.0 11.9 (216.2) 559.7 Depreciation and amortization expense (2) 48.3 21.7 5.4 27.3 102.7 Additions to long-lived assets (3) 19.7 8.6 1.3 20.1 49.7 (1) Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a brand. These costs primarily include administration and certain information systems expense. (2) Depreciation and amortization expense includes $0.3 million of Acceleration Program costs for the three and six months ended December 26, 2020. Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jul. 03, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 38.7		$ 32.4
Deferred revenue, revenue recognized	$ 8.1	$ 7.6
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	30 days
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	90 days
Licensing business | Net sales | Revenue from Rights Concentration Risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue	1.00%

Revenue (Disaggregated Sales) (

Revenue (Disaggregated Sales) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 2,141.2	$ 1,685.4	$ 3,622.1	$ 2,857.6
North America
Disaggregation of Revenue [Line Items]
Net sales	1,494.1	1,088.2	2,443.7	1,753.5
Greater China
Disaggregation of Revenue [Line Items]
Net sales	308.5	291.6	584.9	519.3
Other Asia
Disaggregation of Revenue [Line Items]
Net sales	244	223.9	408	423.1
Other
Disaggregation of Revenue [Line Items]
Net sales	94.6	81.7	185.5	161.7
Coach
Disaggregation of Revenue [Line Items]
Net sales	1,525	1,225.3	2,639.9	2,100.7
Coach | North America
Disaggregation of Revenue [Line Items]
Net sales	1,011.2	742.6	1,692.9	1,209.3
Coach | Greater China
Disaggregation of Revenue [Line Items]
Net sales	258.7	242.6	500.7	438.8
Coach | Other Asia
Disaggregation of Revenue [Line Items]
Net sales	201.6	188	338.5	350.3
Coach | Other
Disaggregation of Revenue [Line Items]
Net sales	53.5	52.1	107.8	102.3
Kate Spade
Disaggregation of Revenue [Line Items]
Net sales	500.4	375.6	799.9	616
Kate Spade | North America
Disaggregation of Revenue [Line Items]
Net sales	415.7	303.7	647.9	476
Kate Spade | Greater China
Disaggregation of Revenue [Line Items]
Net sales	11.6	13.4	23.3	27.2
Kate Spade | Other Asia
Disaggregation of Revenue [Line Items]
Net sales	42.4	35.6	69.2	70
Kate Spade | Other
Disaggregation of Revenue [Line Items]
Net sales	30.7	22.9	59.5	42.8
Stuart Weitzman
Disaggregation of Revenue [Line Items]
Net sales	115.8	84.5	182.3	140.9
Stuart Weitzman | North America
Disaggregation of Revenue [Line Items]
Net sales	67.2	41.9	102.9	68.2
Stuart Weitzman | Greater China
Disaggregation of Revenue [Line Items]
Net sales	38.2	35.6	60.9	53.3
Stuart Weitzman | Other Asia
Disaggregation of Revenue [Line Items]
Net sales	0	0.3	0.3	2.8
Stuart Weitzman | Other
Disaggregation of Revenue [Line Items]
Net sales	$ 10.4	$ 6.7	$ 18.2	$ 16.6

Restructuring Activities (Narra

Restructuring Activities (Narrative) (Details) - Acceleration Program - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected additional charges	$ 15		$ 15
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected charges	215		215
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected charges	220		220
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	13.3	$ 21.7	25.4	$ 48.3
Corporate | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	7.2	15.8	16.1	33.1
Operating Segments | Coach | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	1.1	5.8	2.5	16.5
Operating Segments | Kate Spade | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	2.1	2.4	3.5	3.4
Operating Segments | Stuart Weitzman | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	$ 2.9	$ (2.3)	$ 3.3	$ (4.7)

Restructuring Activities (Restr

Restructuring Activities (Restructuring Liability) (Details) - Acceleration Program - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 01, 2022	Jul. 03, 2021	Jun. 27, 2020
Restructuring Cost and Reserve [Line Items]
Organization-related and integration activities	$ 25.4	$ 89.6	$ 87
Cash payments	(15)	(86.7)	(33.9)
Non-cash charges	(6)	(5.1)	(24.8)
Restructuring liability	30.5	26.1	28.3
Organizational-Related
Restructuring Cost and Reserve [Line Items]
Organization-related and integration activities	0	16.6	44.7
Cash payments	(1.2)	(38.2)	(15.8)
Non-cash charges	0	0	(4)
Restructuring liability	2.1	3.3	24.9
Store Closure
Restructuring Cost and Reserve [Line Items]
Organization-related and integration activities	3.3	5.9	32.3
Cash payments	(2)	(11.9)	(11)
Non-cash charges	2.4	5.8	(20.8)
Restructuring liability	4	0.3	0.5
Other
Restructuring Cost and Reserve [Line Items]
Organization-related and integration activities	22.1	67.1	10
Cash payments	(11.8)	(36.6)	(7.1)
Non-cash charges	(8.4)	(10.9)	0
Restructuring liability	$ 24.4	$ 22.5	$ 2.9

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Change in Carrying Value of Goodwill) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021
Goodwill [Roll Forward]
Beginning Balance	$ 1,297.3
Foreign exchange impact	(12.1)
Ending Balance	1,285.2
Coach
Goodwill [Roll Forward]
Beginning Balance	656.3
Foreign exchange impact	(10.1)
Ending Balance	646.2
Kate Spade
Goodwill [Roll Forward]
Beginning Balance	641
Foreign exchange impact	(2)
Ending Balance	639
Stuart Weitzman
Goodwill [Roll Forward]
Beginning Balance	0
Foreign exchange impact	0
Ending Balance	0
Impairment charges	$ 210.7	$ 210.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Indefinite and Finite Lived Assets) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
Intangible assets subject to amortization:
Gross Carrying Amount, Customer relationships	$ 100.5	$ 100.5
Accumulated amortization, , Customer relationships	(40.2)	(36.9)
Total	60.3	63.6
Intangible assets not subject to amortization:
Indefinite-lived intangible assets (excluding goodwill), Trademarks and trade names	1,309.8	1,309.8
Intangible assets, gross (excluding goodwill)	1,410.3	1,410.3
Intangible assets, net (excluding goodwill)	$ 1,370.1	$ 1,373.4

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
Expected Amortization Expense For Intangible Assets
Remainder of fiscal 2022	$ 3.2
Fiscal 2023	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026	6.5
Fiscal 2027	6.5
Thereafter	24.6
Total	$ 60.3	$ 63.6

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Narrative) (Details) - Customer relationships	6 Months Ended
	Jan. 01, 2022
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	8 years 3 months 18 days
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years 6 months

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended				6 Months Ended
	Jan. 01, 2022	Oct. 02, 2021	Dec. 26, 2020	Sep. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 3,150	$ 3,259.3	$ 2,530.1	$ 2,276.4	$ 3,259.3	$ 2,276.4
Net income (loss)	317.9	226.9	311	231.7	544.8	542.7
Other comprehensive income (loss)	(13.6)	(10.1)	26.1	15.7
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	19	(26.4)	6.1	(8.3)
Share-based compensation	22	19.9	17.4	14.6
Repurchase of common stock		(250)
Repurchase and retirement of common stock	(500)
Dividends declared	(67.9)	(69.6)
Ending balance	$ 2,927.4	$ 3,150	$ 2,890.7	$ 2,530.1	$ 2,927.4	$ 2,890.7
Cash dividends declared per common share (USD per share)	$ 0.25	$ 0.25
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	275,000	279,500	277,400	276,200	279,500	276,200
Beginning balance	$ 2.8	$ 2.8	$ 2.8	$ 2.8	$ 2.8	$ 2.8
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (shares)	700	1,600	400	1,200
Repurchase of common stock (shares)		(6,100)
Repurchase and retirement of common stock (shares)	(11,700)
Repurchase and retirement of common stock	$ (0.2)
Ending balance (shares)	264,000	275,000	277,800	277,400	264,000	277,800
Ending balance	$ 2.6	$ 2.8	$ 2.8	$ 2.8	$ 2.6	$ 2.8
Additional Paid-in- Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,480.5	3,487	3,364.8	3,358.5	3,487	3,358.5
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	19	(26.4)	6.1	(8.3)
Share-based compensation	22	19.9	17.4	14.6
Ending balance	3,521.5	3,480.5	3,388.3	3,364.8	3,521.5	3,388.3
Retained Earnings / (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(251.2)	(158.5)	(761)	(992.7)	(158.5)	(992.7)
Net income (loss)	317.9	226.9	311	231.7
Repurchase of common stock		(250)
Repurchase and retirement of common stock	(499.8)
Dividends declared	(67.9)	(69.6)
Ending balance	(501)	(251.2)	(450)	(761)	(501)	(450)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(82.1)	(72)	(76.5)	(92.2)	(72)	(92.2)
Other comprehensive income (loss)	(13.6)	(10.1)	26.1	15.7
Ending balance	$ (95.7)	$ (82.1)	$ (50.4)	$ (76.5)	$ (95.7)	$ (50.4)

Stockholders' Equity (AOCI) (De

Stockholders' Equity (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	$ 3,150	$ 2,530.1	$ 3,259.3	$ 2,276.4
Other comprehensive income (loss) before reclassifications			(24.7)	41
Less: amounts reclassified from accumulated other comprehensive income to earnings			(1)	(0.8)
Other comprehensive income (loss), net of tax	(13.6)	26.1	(23.7)	41.8
Ending balance	2,927.4	2,890.7	2,927.4	2,890.7
Unrealized Gains (Losses) on Cash Flow Hedging Derivatives
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			(0.7)	1.1
Other comprehensive income (loss) before reclassifications			(1.6)	(6.1)
Less: amounts reclassified from accumulated other comprehensive income to earnings			(1)	(0.8)
Other comprehensive income (loss), net of tax			(0.6)	(5.3)
Ending balance	(1.3)	(4.2)	(1.3)	(4.2)
Accumulated other comprehensive income, accumulated tax	0.6		0.6
Amounts reclassified from AOCI, tax			0.3
Unrealized Gains (Losses) on Cash Flow Hedging Derivatives | Maximum
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Accumulated other comprehensive income, accumulated tax		0.1		0.1
Amounts reclassified from AOCI, tax				0.1
Unrealized Gains (Losses) on Available- for-Sale Investments
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			0	0
Other comprehensive income (loss) before reclassifications			(0.3)	0
Less: amounts reclassified from accumulated other comprehensive income to earnings			0	0
Other comprehensive income (loss), net of tax			(0.3)	0
Ending balance	(0.3)	0	(0.3)	0
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			(71.3)	(93.3)
Other comprehensive income (loss) before reclassifications			(22.8)	47.1
Less: amounts reclassified from accumulated other comprehensive income to earnings			0	0
Other comprehensive income (loss), net of tax			(22.8)	47.1
Ending balance	(94.1)	(46.2)	(94.1)	(46.2)
Total
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(82.1)	(76.5)	(72)	(92.2)
Ending balance	$ (95.7)	$ (50.4)	$ (95.7)	$ (50.4)

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Millions	6 Months Ended
	Jan. 01, 2022USD ($)
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, liability	$ 157.2
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 year
Lessee, operating lease, renewal term or early termination option	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term or early termination option	10 years

Leases (Right Of Use Assets and

Leases (Right Of Use Assets and Lease Liability) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
ASSETS
Operating lease right-of-use assets	$ 1,403.6	$ 1,496.6
Finance leases	$ 2.2	$ 2.6
Finance lease [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Total lease assets	$ 1,405.8	$ 1,499.2
Operating leases:
Current portion of operating lease liabilities	308	319.4
Long-term operating lease liabilities	1,414.8	1,525.9
Total operating lease liabilities	1,722.8	1,845.3
Finance leases:
Current lease liabilities	$ 1	$ 1
Current lease liabilities [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Long-term lease liabilities	$ 3	$ 3.4
Long-term lease liabilities [Extensible Enumeration]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 4	$ 4.4
Total lease liabilities	$ 1,726.8	$ 1,849.7

Leases (Costs) (Details)

Leases (Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Leases [Abstract]
Amortization of right-of-use assets	$ 0.3	$ 0.2	$ 0.5	$ 0.4
Interest on lease liabilities	0.1	0.2	0.2	0.3
Total finance lease cost	0.4	0.4	0.7	0.7
Operating lease cost	85.8	89.1	170.7	175.9
Short-term lease cost	5.1	7	9.6	13.1
Variable lease cost	55.2	16.4	98.8	57.3
Operating lease right-of-use impairment	0	2.1	0	2.1
Less: sublease income	(5.2)	(5)	(10.1)	(9.2)
Total net lease cost	$ 141.3	$ 110	$ 269.7	$ 239.9

Leases (Cash Flow) (Details)

Leases (Cash Flow) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 214.3	$ 269
Operating cash flows from finance leases	0.2	0.3
Financing cash flows from finance leases	0.5	0.4
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	$ 65.4	$ 39.8

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				6 Months Ended
	Jan. 01, 2022	Oct. 02, 2021	Dec. 26, 2020	Sep. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 317.9	$ 226.9	$ 311	$ 231.7	$ 544.8	$ 542.7
Weighted-average basic shares (shares)	271.1		277.5		274.5	277.1
Effect of dilutive securities (shares)	6.1		3.5		6.5	2.3
Weighted-average diluted shares (shares)	277.2		281		281	279.4
Net income (loss) per share:
Basic (USD per share)	$ 1.17		$ 1.12		$ 1.98	$ 1.96
Diluted (USD per share)	$ 1.15		$ 1.11		$ 1.94	$ 1.94

Earnings Per Share (Anti-Diluti

Earnings Per Share (Anti-Dilutive Impact on Diluted Earnings per Share) (Details) - shares shares in Millions	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
Earnings Per Share [Abstract]
Shares excluded from diluted share calculations (shares)	5.2	11.5

Share-based Compensation (Total

Share-based Compensation (Total Compensation Cost and Related Tax Benefits) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 22	$ 17.4	$ 41.9	$ 32
Income tax benefit related to share-based compensation expense	4.2	3.2	8	5.8
Accelerated Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3.4	$ 2.5	$ 8.4	$ 3.1

Share-based Compensation (Summa

Share-based Compensation (Summary of Option Activity) (Details) - Stock Options shares in Millions	6 Months Ended
	Jan. 01, 2022shares
Number of Options Outstanding
Beginning balance (shares)	13.3
Granted (shares)	0.7
Exercised (shares)	(0.8)
Forfeited or expired (shares)	(0.8)
Ending balance (shares)	12.4

Share-based Compensation (Narra

Share-based Compensation (Narrative) (Details) - $ / shares	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
Stock Options
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	$ 13.94	$ 7.03
Service-based Restricted Stock Unit Awards (RSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	42.15	15.92
Performance-based Restricted Stock Unit Awards (PRSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	$ 42.23	$ 16.62

Share-based Compensation (Weigh

Share-based Compensation (Weighted-average Assumptions) (Details) - Stock Options	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years	5 years 1 month 6 days
Expected volatility	46.90%	48.80%
Risk-free interest rate	0.80%	0.30%
Dividend yield	2.40%	0.00%

Share-based Compensation (Sum_2

Share-based Compensation (Summary of Non-vested Service-Based Restricted Stock Unit Activity) (Details) - Service-based Restricted Stock Unit Awards (RSU) shares in Millions	6 Months Ended
	Jan. 01, 2022shares
Number of Non-vested RSUs
Beginning balance (shares)	7.3
Granted (shares)	1.8
Vested (shares)	(2.2)
Forfeited (shares)	(0.3)
Ending balance (shares)	6.6

Share-based Compensation (Sum_3

Share-based Compensation (Summary of Non-vested Performance-based Restricted Stock Unit) (Details) - Performance-based Restricted Stock Unit Awards (PRSU) shares in Millions	6 Months Ended
	Jan. 01, 2022shares
Number of Non-vested PRSUs
Beginning balance (shares)	1
Granted (shares)	0.3
Change due to performance condition achievement (shares)	(0.1)
Vested (shares)	0
Forfeited (shares)	0
Ending balance (shares)	1.2

Debt (Summary of Debt) (Details

Debt (Summary of Debt) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Dec. 01, 2021	Jul. 03, 2021	Jun. 20, 2017	Mar. 02, 2015
Current debt:
Current debt	$ 400		$ 0
Long-term debt:
Long-term debt	1,200		1,600
Less: Unamortized discount and debt issuance costs on Senior Notes	(10.9)		(9.3)
Total long-term debt, net	1,189.1		1,590.7
Senior Notes | 3.000% Senior Notes due 2022
Long-term debt:
Long-term debt	$ 0		400
Interest rate, stated percentage	3.00%			3.00%
Senior Notes | 3.050% Senior Notes due 2032
Long-term debt:
Long-term debt	$ 500		0
Interest rate, stated percentage	3.05%	3.05%
Senior Notes | 4.125% Senior Notes due 2027
Long-term debt:
Long-term debt	$ 396.6		600
Interest rate, stated percentage	4.125%			4.125%
Senior Notes | 4.250% Senior Notes due 2025
Long-term debt:
Long-term debt	$ 303.4		600
Interest rate, stated percentage	4.25%				4.25%
Senior Notes | 3.000% Senior Notes due 2022
Current debt:
Current debt	$ 400		$ 0
Long-term debt:
Interest rate, stated percentage	3.00%

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Dec. 01, 2021USD ($)	Oct. 24, 2019USD ($)	Jun. 20, 2017USD ($)	Mar. 02, 2015USD ($)	Jan. 01, 2022USD ($)	Dec. 26, 2020USD ($)	Jan. 01, 2022USD ($)	Dec. 26, 2020USD ($)	Jul. 03, 2021USD ($)	May 19, 2020USD ($)
Debt Instrument [Line Items]
Interest expense					$ 16,300,000	$ 19,200,000	$ 33,100,000	$ 39,300,000
Debt instrument, debt issuance costs, tender fees, and unamortized original discount					10,900,000		10,900,000		$ 9,300,000
Loss on extinguishment of debt					53,700,000	$ 0	53,700,000	$ 0
Revolving Facility | Revolving Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 900,000,000
Debt, current					$ 0		$ 0
Revolving Facility | Revolving Facility | Minimum
Debt Instrument [Line Items]
Consolidated debt including operating lease liability less cash		$ 300,000,000
Revolving Facility | Revolving Facility | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Revolving Facility | Revolving Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Revolving Facility, Amendment 1 | Revolving Facility
Debt Instrument [Line Items]
Required available liquidity threshold										$ 700,000,000
Net leverage ratio										4
Senior Notes | 3.050% Senior Notes due 2032
Debt Instrument [Line Items]
Interest rate, stated percentage	3.05%				3.05%		3.05%
Debt instrument, face amount	$ 500,000,000
Debt instrument, issuance amount, percent of par	99.705%
Debt instrument, redemption price, percentage	100.00%
Senior Notes | 3.050% Senior Notes due 2032 | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value					$ 502,300,000		$ 502,300,000
Senior Notes | 3.050% Senior Notes due 2032 | Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Senior Notes | 4.125% Senior Notes due 2027 and 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument, debt issuance costs, tender fees, and unamortized original discount	$ 4,500,000
Loss on extinguishment of debt	53,700,000
Senior Notes | 4.125% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage			4.125%		4.125%		4.125%
Debt instrument, face amount			$ 600,000,000
Debt instrument, issuance amount, percent of par			99.858%
Debt instrument, redemption price, percentage			100.00%
Tender offer, outstanding debt	203,400,000
Tender premium	22,400,000
Senior Notes | 4.125% Senior Notes due 2027 | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value					$ 428,000,000		$ 428,000,000		659,300,000
Senior Notes | 4.125% Senior Notes due 2027 | Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.30%
Senior Notes | 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage				4.25%	4.25%		4.25%
Debt instrument, face amount				$ 600,000,000
Debt instrument, issuance amount, percent of par				99.445%
Debt instrument, redemption price, percentage				100.00%
Tender offer, outstanding debt	296,600,000
Tender premium	$ 26,800,000
Long-term debt, maturities, redemption period before maturity				90 days
Senior Notes | 4.250% Senior Notes due 2025 | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value					$ 322,400,000		$ 322,400,000		651,900,000
Senior Notes | 4.250% Senior Notes due 2025 | Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate				0.35%
Senior Notes | 3.000% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate, stated percentage			3.00%		3.00%		3.00%
Debt instrument, face amount			$ 400,000,000
Debt instrument, issuance amount, percent of par			99.505%
Debt instrument, redemption price, percentage			100.00%
Senior Notes | 3.000% Senior Notes due 2022 | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value					$ 404,000,000		$ 404,000,000		$ 407,400,000
Senior Notes | 3.000% Senior Notes due 2022 | Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.25%

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity of time deposit	3 months
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 104.3	$ 662
Level 1 | Intercompany loan and payables hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Level 1 | Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	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	97.5	0
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 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 1 | Long-term investments | Other
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	0.4	0.4
Level 2 | Intercompany loan and payables hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.1	0.3
Derivative liability	0.7	0
Level 2 | Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	1.5	1.2
Level 2 | Short-term Investments | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.7	0.7
Level 2 | Short-term Investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	113.6	0
Level 2 | Short-term Investments | Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	9	0
Level 2 | Short-term Investments | Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	160	0
Level 2 | Short-term Investments | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	9.5	7.4
Level 2 | Long-term investments | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0.1	$ 0.1

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Fair Value Disclosures [Abstract]
Impairment charges	$ 0	$ 0	$ 0	$ 0

Investments (Summary of Investm

Investments (Summary of Investments) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021
Schedule of Investments [Line Items]
Short-term investments	$ 380.1	$ 0
Long-term investments	0	0
Investments	380.1	0
Other short-term investments	9.5	7.4
Other long-term investments	0.1	0.1
Other investments	9.6	7.5
Short-term investments	390.3	8.1
Long-term Investments	0.1	0.1
Investments	$ 390.4	8.2
Maturity of time deposit	3 months
Time deposits
Schedule of Investments [Line Items]
Other short-term investments	$ 0.7	0.7
Commercial paper
Schedule of Investments [Line Items]
Short-term investments	113.6	0
Long-term investments	0	0
Investments	113.6	0
Government securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	106.5	0
Long-term investments	0	0
Investments	106.5	0
Corporate debt securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	160	0
Long-term investments	0	0
Investments	$ 160	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	18.50%	16.90%	18.30%	3.00%

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jul. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Standby letters of credit and bank guarantees	$ 39	$ 40.5

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jan. 01, 2022numberOfSegment
Segment Reporting [Abstract]
Reportable segments	3

Segment Information (Summary of

Segment Information (Summary of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,141.2	$ 1,685.4	$ 3,622.1	$ 2,857.6
Gross profit	1,457.4	1,173.7	2,526.1	2,003.9
Operating income (loss)	462.8	389.4	757.8	591.6
Income (loss) before provision for income taxes	390.1	374.3	666.8	559.7
Depreciation and amortization expense	48.8	51.5	99.6	102.7
Additions to long-lived assets	38.3	23.7	71.7	49.7
Accelerated Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense		0.3		0.3
Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Gross profit	0	0	0	0
Operating income (loss)	(107.5)	(93.3)	(213.9)	(184.3)
Income (loss) before provision for income taxes	(180.2)	(108.4)	(304.9)	(216.2)
Depreciation and amortization expense	17.1	13.7	34.2	27.3
Additions to long-lived assets	14	10.1	33.4	20.1
Coach
Segment Reporting Information [Line Items]
Net sales	1,525	1,225.3	2,639.9	2,100.7
Coach | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,525	1,225.3	2,639.9	2,100.7
Gross profit	1,078.2	888.1	1,909.2	1,533
Operating income (loss)	473.3	412	839	682
Income (loss) before provision for income taxes	473.3	412	839	682
Depreciation and amortization expense	19.4	23.5	40.1	48.3
Additions to long-lived assets	17.7	8.8	30.5	19.7
Kate Spade
Segment Reporting Information [Line Items]
Net sales	500.4	375.6	799.9	616
Kate Spade | Operating Segments
Segment Reporting Information [Line Items]
Net sales	500.4	375.6	799.9	616
Gross profit	308	233.1	507.2	387.2
Operating income (loss)	83.7	58.8	120.9	82
Income (loss) before provision for income taxes	83.7	58.8	120.9	82
Depreciation and amortization expense	10.2	11.3	21	21.7
Additions to long-lived assets	5.7	4	6.7	8.6
Stuart Weitzman
Segment Reporting Information [Line Items]
Net sales	115.8	84.5	182.3	140.9
Stuart Weitzman | Operating Segments
Segment Reporting Information [Line Items]
Net sales	115.8	84.5	182.3	140.9
Gross profit	71.2	52.5	109.7	83.7
Operating income (loss)	13.3	11.9	11.8	11.9
Income (loss) before provision for income taxes	13.3	11.9	11.8	11.9
Depreciation and amortization expense	2.1	3	4.3	5.4
Additions to long-lived assets	$ 0.9	$ 0.8	$ 1.1	$ 1.3