Capri Holdings Limited (CPRI) 10-Q 6 Nov 14 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 27, 2014	Nov. 03, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	27-Sep-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'KORS	'
Entity Registrant Name	'MICHAEL KORS HOLDINGS LTD	'
Entity Central Index Key	'0001530721	'
Current Fiscal Year End Date	'--03-28	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	205,910,877

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$1,012,393	$955,145
Receivables, net	346,822	314,055
Inventories	619,296	426,938
Deferred tax assets	29,204	30,539
Prepaid expenses and other current assets	125,658	50,492
Total current assets	2,133,373	1,777,169
Property and equipment, net	453,836	350,678
Intangible assets, net	53,278	48,034
Goodwill	14,005	14,005
Deferred tax assets	6,423	3,662
Other assets	28,515	23,425
Total assets	2,689,430	2,216,973
Current liabilities	'	'
Accounts payable	179,079	131,953
Accrued payroll and payroll related expenses	46,733	54,703
Accrued income taxes	19,361	47,385
Accrued expenses and other current liabilities	80,692	74,329
Total current liabilities	325,865	308,370
Deferred rent	93,434	76,785
Deferred tax liabilities	3,905	5,887
Other long-term liabilities	21,097	19,800
Total liabilities	444,301	410,842
Commitments and contingencies	'	'
Shareholders' equity	'	'
Ordinary shares, no par value; 650,000,000 shares authorized, and 205,797,551 shares issued and outstanding at September 27, 2014, and 204,291,345 shares issued and outstanding at March 29, 2014	'	'
Treasury shares, at cost (40,787 shares at September 27, 2014, and 29,765 at March 29, 2014)	-3,484	-2,447
Additional paid-in capital	586,588	527,213
Accumulated other comprehensive loss	-20,419	-6,373
Retained earnings	1,682,444	1,287,738
Total shareholders' equity	2,245,129	1,806,131
Total liabilities and shareholders' equity	$2,689,430	$2,216,973

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 27, 2014	Mar. 29, 2014
Ordinary shares, par value	'	'
Ordinary shares, shares authorized	650,000,000	650,000,000
Ordinary shares, shares issued	205,797,551	204,291,345
Ordinary shares, shares outstanding	205,797,551	204,291,345
Treasury shares, at cost	40,787	29,765

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net sales	$1,009,669	$707,444	$1,896,706	$1,323,692
Licensing revenue	46,936	32,859	79,053	57,470
Total revenue	1,056,605	740,303	1,975,759	1,381,162
Cost of goods sold	411,578	290,428	759,099	534,016
Gross profit	645,027	449,875	1,216,660	847,146
Selling, general and administrative expenses	305,405	210,358	571,269	394,092
Depreciation and amortization	34,064	18,057	63,062	34,032
Total operating expenses	339,469	228,415	634,331	428,124
Income from operations	305,558	221,460	582,329	419,022
Other income	-2,051	'	-1,546	'
Interest expense, net	72	130	31	300
Foreign currency loss	3,440	18	3,745	276
Income before provision for income taxes	304,097	221,312	580,099	418,446
Provision for income taxes	97,107	75,504	185,393	147,642
Net income	206,990	145,808	394,706	270,804
Weighted average ordinary shares outstanding:	'	'	'	'
Basic	204,464,952	202,560,870	204,107,262	202,686,313
Diluted	207,432,250	205,154,692	207,304,247	205,547,191
Net income per ordinary share:	'	'	'	'
Basic	$1.01	$0.72	$1.93	$1.34
Diluted	$1	$0.71	$1.90	$1.32
Statements of Comprehensive Income:	'	'	'	'
Net income	206,990	145,808	394,706	270,804
Foreign currency translation adjustments	-27,671	6,331	-24,604	4,973
Net realized and unrealized gains (losses) on derivatives	9,094	-2,592	10,558	-3,213
Comprehensive income	$188,413	$149,547	$380,660	$272,564

CONSOLIDATED_STATEMENTS_OF_SHA

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)	Total	Ordinary Shares	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive Loss	Retained Earnings
In Thousands, except Share data	USD ($)		USD ($)	USD ($)	USD ($)	USD ($)
Beginning Balance at Mar. 29, 2014	$1,806,131	'	$527,213	($2,447)	($6,373)	$1,287,738
Beginning Balance (in shares) at Mar. 29, 2014	'	204,261,580	'	'	'	'
Net income	394,706	'	'	'	'	394,706
Foreign currency translation adjustment	-24,604	'	'	'	-24,604	'
Net unrealized gain on derivatives (net of taxes of $ 1.3 million)	10,558	'	'	'	10,558	'
Total comprehensive income	380,660	'	'	'	'	'
Issuance of restricted shares	'	364,123	'	'	'	'
Exercise of employee share options (in shares)	1,142,083	1,142,083	'	'	'	'
Exercise of employee share options	8,143	'	8,143	'	'	'
Equity compensation expense	21,579	'	21,579	'	'	'
Tax benefits on exercise of share options	29,653	'	29,653	'	'	'
Purchase of Treasury Shares	'	-11,022	'	'	'	'
Purchase of Treasury Shares	-1,037	'	'	-1,037	'	'
Ending Balance at Sep. 27, 2014	$2,245,129	'	$586,588	($3,484)	($20,419)	$1,682,444
Ending Balance (in shares) at Sep. 27, 2014	'	205,756,764	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_SHA1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Sep. 27, 2014
Net unrealized loss on derivatives, taxes	$1.30

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013
Cash flows from operating activities	'	'
Net income	$394,706	$270,804
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	63,062	34,032
Loss on disposal of fixed assets	1,762	1,992
Unrealized foreign exchange loss	3,745	276
Income earned on joint venture	-311	'
Amortization of deferred financing costs	374	373
Amortization of deferred rent	3,146	3,561
Deferred income taxes	-5,402	473
Equity compensation expense	21,579	13,137
Tax benefits on exercise of share options	-29,653	-40,307
Change in assets and liabilities:	'	'
Receivables, net	-39,090	-20,476
Inventories	-201,045	-135,425
Prepaid expenses and other current assets	-65,369	-13,604
Other assets	-2,664	-3,892
Accounts payable	48,241	36,090
Accrued expenses and other current liabilities	-9,414	18,669
Other long-term liabilities	14,647	15,783
Net cash provided by operating activities	198,314	181,486
Cash flows from investing activities	'	'
Capital expenditures	-157,403	-73,580
Investment in Joint Venture	-2,940	'
Purchase of intangible assets	-12,060	-14,688
Net cash used in investing activities	-172,403	-88,268
Cash flows from financing activities	'	'
Repayments of borrowings under revolving credit agreement	'	-18,361
Borrowings under revolving credit agreement	'	18,361
Exercise of employee share options	8,143	13,043
Purchase of Treasury Shares	-1,037	'
Tax benefits on exercise of share options	29,653	40,307
Payment of deferred financing costs	'	-176
Net cash provided by financing activities	36,759	53,174
Effect of exchange rate changes on cash and cash equivalents	-5,422	-62
Net increase in cash and cash equivalents	57,248	146,330
Beginning of period	955,145	472,511
End of period	1,012,393	618,841
Supplemental disclosures of cash flow information	'	'
Cash paid for interest	341	260
Cash paid for income taxes	240,686	139,937
Supplemental disclosure of noncash investing and financing activities	'	'
Accrued capital expenditures	$31,044	$14,477

Business_and_Basis_of_Presenta

Business and Basis of Presentation	6 Months Ended
	Sep. 27, 2014
Business and Basis of Presentation	'
	1. Business and Basis of Presentation
	Michael Kors Holdings Limited (“MKHL,” and together with its subsidiaries, the “Company”) was incorporated in the British Virgin Islands (“BVI”) on December 13, 2002. The Company is a leading designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks “MICHAEL KORS,” “MICHAEL MICHAEL KORS,” and various other related trademarks and logos. The Company’s business consists of retail, wholesale and licensing segments. Retail operations consist of collection stores, lifestyle stores, including concessions and outlet stores located primarily in the United States, Canada, Europe and Japan. Wholesale revenues are principally derived from major department and specialty stores located throughout the United States, Canada and Europe. The Company licenses its trademarks on products such as fragrances, cosmetics, eyewear, leather goods, jewelry, watches, coats, men’s suits, swimwear, furs and ties.
	The interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The consolidated financial statements as of September 27, 2014, and for the three and six months ended September 27, 2014 and September 28, 2013, are unaudited. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The interim financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, necessary for a fair presentation in conformity with GAAP. The interim financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended March 29, 2014, as filed with the Securities and Exchange Commission on May 28, 2014, in the Company’s Annual Report on Form 10-K. The results of operations for the interim periods should not be considered indicative of results to be expected for the full fiscal year.
	The Company utilizes a 52 to 53 week fiscal year ending on the Saturday closest to March 31. As such, the term “Fiscal Year” or “Fiscal” refers to the 52-week or 53-week period, ending on that day. The results for the three and six months ended September 27, 2014 and September 28, 2013, are based on a 13-week and 26-week period, respectively.
	During September 2014, the Company completed a secondary offering of 11,629,627 ordinary shares at a price of $76.75 per share. Similar to the Company’s previous offerings, the Company did not receive any of the proceeds related to the sale of these shares and incurred approximately $0.7 million in fees related to the secondary offering which were charged to selling, general and administrative expenses during the second quarter of Fiscal 2015. As a result of the secondary offering, Sportswear Holdings Limited (the Company’s former parent) no longer has any ownership interest in the Company.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 27, 2014
Summary of Significant Accounting Policies	'
	2. Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. The most significant assumptions and estimates involved in preparing the financial statements include allowances for customer deductions, sales returns, sales discounts and doubtful accounts, estimates of inventory recovery, the valuation of share-based compensation, valuation of deferred taxes and the estimated useful lives used for amortization and depreciation of intangible assets and property and equipment. Actual results could differ from those estimates.
	Store Pre-opening Costs
	Costs associated with the opening of new retail stores and start up activities are expensed as incurred.
	Property and Equipment
	Property and equipment is stated at cost less accumulated depreciation and amortization (carrying value). Depreciation is provided on a straight-line basis over the expected remaining useful lives of the related assets. Equipment, furniture and fixtures are depreciated over five to seven years, computer hardware and software are depreciated over three to five years, and in-store shops are amortized over three to four years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated remaining useful lives of the related assets or remaining lease term. The Company includes all amortization and depreciation expense as a component of total operating expenses, as the underlying long-lived assets are not directly or indirectly related to bringing the Company’s products to their existing location and condition.
	Derivative Financial Instruments
	The Company uses forward currency exchange contracts to manage its exposure to fluctuations in foreign currency for certain of its transactions. The Company in its normal course of business enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward currency contracts to hedge the Company’s cash flows, as they relate to foreign currency transactions, of which certain of these contracts are designated as hedges for accounting purposes, while others are undesignated hedges for hedge accounting purposes. These derivative instruments are recorded on the Company’s consolidated balance sheets at fair value, regardless of if they are designated or undesignated as hedges.
	The Company designates the majority of these forward currency contracts as hedges for hedge accounting purposes which are related to the purchase of inventory. Accordingly, the effective portion of changes in the fair value for contracts entered into during the six months ended September 27, 2014, designated as hedges, are recorded in equity as a component of accumulated other comprehensive income, and to cost of sales for any portion of those contracts deemed ineffective. The Company will continue to record changes in the fair value of hedge designated contracts in this manner until their maturity, where the unrealized gain or loss will be recognized into earnings in that period. For those contracts that are entered into that are not designated as hedges, changes in the fair value, as of each balance sheet date and upon maturity, are recorded in other income, within the Company’s consolidated statements of operations. During the six months ended September 27, 2014, a gain of approximately $0.2 million related to the change in fair value of these contracts was recorded in other income. In addition, the net unrealized gain related to contracts designated as hedges for $10.6 million, was charged to equity as a component of accumulated other comprehensive income during the six months ended September 27, 2014. For the six months ended September 27, 2014, amounts related to the ineffectiveness of these contracts were de minimis. The following table details the fair value of these contracts as of September 27, 2014, and March 29, 2014 (in thousands):
		September 27,			March 29,
		2014			2014
	Prepaid expenses and other current assets	$	10,604		$	12
	Accrued expenses and other current liabilities	$	(385	)	$	(1,875	)
	The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In attempts to mitigate counterparty credit risk, the Company enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term of no more than 12 months. The period of these contracts is directly related to the foreign transaction they are intended to hedge. The notional amount of these contracts outstanding at September 27, 2014 was approximately $194.0 million, which was comprised predominately of those designated as hedges.
	Net Income Per Share
	The Company’s basic net income per share excludes the dilutive effect of share options and units, as well as unvested restricted shares. It is based upon the weighted average number of ordinary shares outstanding during the period divided into net income.
	Diluted net income per share reflects the potential dilution that would occur if share option grants or any other dilutive equity instruments were exercised or converted into ordinary shares. These equity instruments are included as potential dilutive securities to the extent they are dilutive under the treasury stock method for the applicable periods.
	The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in thousands except share and per share data):
		Three Months Ended						Six Months Ended
		September 27,			September 28,			September 27,		September 28,
		2014			2013			2014		2013
	Numerator:
	Net Income	$	206,990		$	145,808		$	394,706	$	270,804
	Denominator:
	Basic weighted average ordinary shares		204,464,952			202,560,870			204,107,262		202,686,313
	Weighted average dilutive share equivalents:
	Share options and restricted shares/units		2,967,298			2,593,822			3,196,985		2,860,878
	Diluted weighted average ordinary shares		207,432,250			205,154,692			207,304,247		205,547,191
	Basic net income per ordinary share	$	1.01		$	0.72		$	1.93	$	1.34
	Diluted net income per ordinary share	$	1		$	0.71		$	1.9	$	1.32
	Share equivalents for the three and six months ended September 27, 2014 for 231,893 shares and 135,720 shares, respectively, have been excluded from the above calculation as they were anti-dilutive. Share equivalents for the three and six months ended September 28, 2013 for 86,516 shares and 75,116 shares, respectively, have been excluded from the above calculation as they were anti-dilutive.
	Recent Accounting Pronouncements—The Company has considered all new accounting pronouncements and, and with the exception of the below, has concluded that there are no new pronouncements that have a material impact on results of operations, financial condition, or cash flows, based on current information.
	In May, 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers, which amends how an entity is currently required to recognize revenue from contracts with its customers. The ASU will replace the existing revenue recognition guidance in GAAP when it becomes effective for entities in January 2017. Early application is not permitted. The Company is currently evaluating the impact that ASU 2014-09 will have on its consolidated financial statements and related disclosures.

Receivables_net

Receivables, net	6 Months Ended
	Sep. 27, 2014
Receivables, net	'
	3. Receivables, net
	Receivables, net consist of (in thousands):
		September 27,			March 29,
		2014			2014
	Trade receivables:
	Credit risk assumed by factors/insured	$	326,284		$	261,900
	Credit risk retained by Company		65,023			109,094
	Receivables due from licensees		30,436			11,302
			421,743			382,296
	Less allowances:		(74,921	)		(68,241	)
		$	346,822		$	314,055
	The Company has historically assigned a substantial portion of its trade receivables to factors in the United States and Europe whereby the factors assumed credit risk with respect to such receivables assigned. Under the factor agreements, factors bear the risk of loss from the financial inability of the customer to pay the trade receivable when due, up to such amounts as accepted by the factor; but not the risk of non-payment of such trade receivable for any other reason. Beginning in July 2012, the Company assumed responsibility for a large portion of previously factored accounts receivable balances the majority of which were insured at September 27, 2014. The Company provides an allowance for such non-payment risk at the time of sale, which is recorded as an offset to revenue.
	Receivables are presented net of allowances for sales returns, discounts, markdowns, operational chargebacks and doubtful accounts. Sales returns are determined based on an evaluation of current market conditions and historical returns experience. Discounts are based on open invoices where trade discounts have been extended to customers. Markdowns are based on retail sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in net sales.
	The allowance for doubtful accounts is determined through analysis of periodic aging of receivables for which credit risk is not assumed by the factors, or which are not covered under insurance, and assessments of collectability based on an evaluation of historic and anticipated trends, the financial conditions of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered. Allowances for doubtful accounts were $1.1 million and $1.5 million, at September 27, 2014 and March 29, 2014, respectively.

Property_and_Equipment_Net

Property and Equipment, Net	6 Months Ended
	Sep. 27, 2014
Property and Equipment, Net	'
	4. Property and Equipment, net
	Property and equipment, net consist of (in thousands):
		September 27,			March 29,
		2014			2014
	Furniture and fixtures	$	136,046		$	108,757
	Equipment		51,619			31,683
	Computer equipment and software		75,851			50,646
	In-store shops		147,112			123,637
	Leasehold improvements		249,951			216,451
			660,579			531,174
	Less: accumulated depreciation and amortization		(283,087	)		(234,381	)
			377,492			296,793
	Construction-in-progress		76,344			53,885
		$	453,836		$	350,678
	Depreciation and amortization of property and equipment for the three and six months ended September 27, 2014, was $32.2 million and $59.6 million, respectively, and for the three and six months ended September 28, 2013, was $17.5 million and $33.1 million, respectively.

Intangible_Assets_and_Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Sep. 27, 2014
Intangible Assets and Goodwill	'
	5. Intangible Assets and Goodwill
	The following table discloses the carrying values of intangible assets and goodwill (in thousands):
		September 27, 2014						March 29, 2014
		Gross		Accumulated		Net		Gross		Accumulated		Net
		Carrying		Amortization				Carrying		Amortization
		Amount						Amount
	Trademarks	$	23,000	$	13,419	$	9,581	$	23,000	$	12,845	$	10,155
	Lease Rights		50,135		6,438		43,697		41,748		3,869		37,879
	Goodwill		14,005		—		14,005		14,005		—		14,005
		$	87,140	$	19,857	$	67,283	$	78,753	$	16,714	$	62,039
	The trademarks relate to the Company’s brand name and are amortized over twenty years. Lease rights are amortized over the respective terms of the underlying lease. Amortization expense was $1.9 million and $3.5 million, respectively, for the three and six months ended September 27, 2014, and $0.5 million and $1.0 million, respectively, for the three and six months ended September 28, 2013.
	Goodwill is not amortized but will be evaluated for impairment in the last quarter of Fiscal 2015, or whenever impairment indicators exist. There were no charges related to the impairment of goodwill in the periods presented.
	Estimated amortization expense for each of the next five years is as follows (in thousands):
	Remainder of Fiscal 2015	$	3,946
	Fiscal 2016		8,357
	Fiscal 2017		8,355
	Fiscal 2018		8,321
	Fiscal 2019		7,368
	Thereafter		16,931
		$	53,278

Credit_Facilities

Credit Facilities	6 Months Ended
	Sep. 27, 2014
Credit Facilities	'
	6. Credit Facilities
	Senior Unsecured Revolving Credit Facility
	On February 8, 2013, the Company entered into a senior unsecured credit facility (“2013 Credit Facility”). Pursuant to the agreement the 2013 Credit Facility provides for up to $200.0 million of borrowings, and expires on February 8, 2018. The agreement also provides for loans and letters of credit to the Company’s European subsidiaries of up to $100.0 million. The 2013 Credit Facility contains financial covenants such as requiring an adjusted leverage ratio of 3.5 to 1.0 (with the ratio being total consolidated indebtedness plus 8.0 times consolidated rent expense to EBITDA plus consolidated rent expense) and a fixed charge coverage ratio of 2.0 to 1.0 (with the ratio being EBITDA plus consolidated rent expense to the sum of fixed charges plus consolidated rent expense), restricts and limits additional indebtedness, and restricts the incurrence of additional liens and cash dividends. As of September 27, 2014, the Company was in compliance with all covenants related to this agreement.
	Borrowings under the 2013 Credit Facility accrue interest at the rate per annum announced from time to time by the agent at a rate based on the rates applicable for deposits in the London interbank market for U.S. Dollars or the applicable currency in which the loans are made (the “Adjusted LIBOR”) plus an applicable margin. The applicable margin may range from 1.25% to 1.75%, and is based, or dependent upon, a particular threshold related to the adjusted leverage ratio calculated during the period of borrowing. The 2013 Credit Facility requires an annual facility fee of $0.1 million, and an annual commitment fee of 0.25% to 0.35% on the unused portion of the available credit under the facility.
	As of September 27, 2014, there were no amounts outstanding under the 2013 Credit Facility, and there were no amounts borrowed during the six months ended September 27, 2014. The amount available for future borrowings under this agreement was $188.4 million at September 27, 2014. At September 27, 2014, there were stand-by letters of credit of $11.6 million.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 27, 2014
Commitments and Contingencies	'
	7. Commitments and Contingencies
	In the ordinary course of business, the Company is party to various legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company’s management does not believe that the outcome of all pending legal proceedings in the aggregate will have a material adverse effect on its cash flow, results of operations or financial position.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Sep. 27, 2014
Fair Value of Financial Instruments	'
	8. Fair Value of Financial Instruments
	Financial assets and liabilities are measured at fair value using a valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy of a particular asset or liability depends on the inputs used in the valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally derived (unobservable). Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs based on a company’s own assumptions about market participant assumptions developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:
	Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that a company has the ability to access at the measurement date.
	Level 2 – Valuations based on quoted inputs other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly through corroboration with observable market data.
	Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
	The Company has historically entered into forward exchange contracts to hedge the foreign currency exposure for certain inventory purchases from its manufacturers in Europe and Asia, as well as commitments for certain services. The forward contracts that are used for these purposes mature in twelve months or less, consistent with the related planned purchases or services. The Company attempts to hedge the majority of its total anticipated European and Asian purchase and service contracts. Realized gains and losses applicable to derivatives used for inventory purchases are recognized in cost of sales, and those applicable to other services are recognized in selling, general and administrative expenses (see Note 2 Summary of Significant Accounting Policies- Derivative Financial Instruments, for further detail regarding hedge accounting treatment as it relates to gains and losses). At September 27, 2014, the fair value of the Company’s foreign currency forward contracts, the Company’s only derivatives, were valued using broker quotations which were calculations derived from observable market information: the applicable currency forward rates at the balance sheet date and those forward rates particular to the contract at inception. The Company makes no adjustments to these broker obtained quotes or prices, but does assess the credit risk of the counterparty and would adjust the provided valuations for counterparty credit risk when appropriate. The fair value of the forward contracts are included in prepaid expenses and other current assets, and in accrued expenses and other current liabilities in the consolidated balance sheets, depending on whether they represent assets or (liabilities) to the Company. All contracts are categorized in Level 2 of the fair value hierarchy as shown in the following table:
					Fair value at September 27, 2014, using:
	(In thousands)	Total			Quoted prices in		Significant other			Significant
					active markets for		observable			unobservable
					identical assets		inputs			inputs
					(Level 1)		(Level 2)			(Level 3)
	Foreign currency forward contracts- Euro to U.S. Dollar	$	10,404		$	—	$	10,404		$	—
	Foreign currency forward contracts- Canadian Dollar to U.S. Dollar		200			—		200			—
	Foreign currency forward contracts- U.S. Dollar to Euro		(385	)		—		(385	)		—
	Total	$	10,219		$	—	$	10,219		$	—
	The Company’s cash and cash equivalents, accounts receivable and accounts payable, are recorded at carrying value, which approximates fair value. Borrowings under the Credit Facility are recorded at face value as the fair value of the Credit Facility is synonymous with its recorded value as it is a short-term debt facility due to its revolving nature.

Other_Comprehensive_Income_Hed

Other Comprehensive Income- Hedging Instruments

6 Months Ended

Sep. 27, 2014

Other Comprehensive Income- Hedging Instruments

'

9. Other Comprehensive Income- Hedging Instruments

The Company designates certain forward currency exchange contracts as hedges for hedge accounting purposes (see Note 2, Summary of Significant Accounting Policies- Derivative Financial Instruments). The Company employs forward currency contracts to hedge the Company’s exposures, as they relate to certain forecasted inventory purchases in foreign currencies, and as such are regarded as cash flow hedges up to such time the forecasted transaction occurs.

Changes in the fair value of the effective portion of these contracts are recorded in equity as a component of accumulated other comprehensive income, as of each balance sheet date, and are reclassified from accumulated other comprehensive income into earnings when the items underlying the hedged transactions are recognized into earnings, as a component of cost of sales within the Company’s consolidated statements of operations.

The following table summarizes the impact of the effective portion of gains and losses of the forward contracts designated as hedges for the three and six months ended September 27, 2014 (in thousands):

Three Months Ended September 27, 2014

Six Months Ended Septeber 27, 2014

Pre-Tax

(Loss)

Pre-Tax

(Loss)

Gain

Reclassified from

Gain Recognized

Reclassified from

Recognized

Accumulated OCI

in OCI

Accumulated OCI

in OCI

into Earnings

(Effective Portion)

into Earnings

(Effective Portion)

(Effective Portion)

(Effective Portion)

Forward currency exchange contracts

$

10,222

$

(249

)

$

11,895

$

(1,383

)

The following table summarizes the impact of the effective portion of gains and losses of the forward contracts designated as hedges for the three and six months ended September 28, 2013:

Three Months Ended September 28, 2013

Six Months Ended Septeber 28, 2013

Pre-Tax

Gain

Pre-Tax

Gain

(Loss)

Reclassified from

(Loss)

Reclassified from

Recognized

Accumulated OCI

Recognized

Accumulated OCI

in OCI

into Earnings

in OCI

into Earnings

(Effective Portion)

(Effective Portion)

(Effective Portion)

(Effective Portion)

Forward currency exchange contracts

$

(2,892

)

$

227

$

(3,513

)

$

555

ShareBased_Compensation

Share-Based Compensation	6 Months Ended
	Sep. 27, 2014
Share-Based Compensation	'
	10. Share-Based Compensation
	The Company issues equity grants to certain employees and directors of the Company at the discretion of the Company’s Compensation Committee. The Company has two equity plans, one adopted in Fiscal 2008, the Michael Kors (USA), Inc. Stock Option Plan (as amended and restated, the “2008 Plan”), and the other adopted in the third fiscal quarter of Fiscal 2012, the Michael Kors Holdings Limited Omnibus Incentive Plan (the “2012 Plan”). The 2008 Plan provided for the granting of share options only and was authorized to issue up to 23,980,823 ordinary shares. Subsequent to the adoption of the 2012 Plan, there were no shares available for the granting of equity awards under the 2008 Plan. The 2012 Plan allows for the granting of share options, restricted shares and restricted share units, and other equity awards, and authorizes a total issuance of up to 15,246,000 ordinary shares. At September 27, 2014, there were 10,701,997 ordinary shares available for the granting of equity awards under the 2012 Plan. Option grants issued from the 2008 Plan generally expire ten years from the date of the grant, and those issued under the 2012 Plan generally expire seven years from the date of the grant.
	Share Options
	Share options are generally exercisable at no less than the fair market value on the date of grant. The Company has issued two types of option grants, those that vest based on the attainment of a performance target and those that vest based on the passage of time. Performance based share options may vest based upon the attainment of one of two performance measures. One performance measure is an individual performance target, which is based upon certain performance targets unique to the individual grantee, and the other measure is a company-wide performance target, which is based on a cumulative minimum growth requirement in consolidated net equity. The individual performance target vests 20% of the total option grant each year the target is satisfied. The individual has ten years in which to achieve five individual performance vesting tranches. The company-wide performance target must be achieved over the ten-year term. Performance is measured at the end of the term, and any unvested options under the grant vest if the target is achieved. The Company-wide performance target is established at the time of the grant. The target metrics underlying individual performance vesting requirements are established for each recipient each year up until such time as the grant is fully vested. Options subject to time based vesting requirements generally become vested in four equal increments on each of the first, second, third and fourth anniversaries of the date on which such options were awarded.
	The following table summarizes the share option activity during the six months ended September 27, 2014, and information about options outstanding at September 27, 2014:
		Number of			Weighted			Weighted			Aggregate
		Options			Average			Average			Intrinsic
					Exercise price			Remaining			Value
								Contractual			(in thousands)
								Life (years)
	Outstanding at March 29, 2014		8,377,928		$	13.69
	Granted		724,746		$	92.73
	Exercised		(1,142,083	)	$	7.13
	Canceled/forfeited		(126,703	)	$	29.2
	Outstanding at September 27, 2014		7,833,888		$	21.7			5.84		$	405,430
	Vested or expected to vest at September 27, 2014		7,677,210		$	21.7			5.84
	Vested and exercisable at September 27, 2014		3,388,805		$	10.26			5.56		$	207,492
	There were 4,445,083 non-vested and 3,388,805 vested outstanding options at September 27, 2014. The total intrinsic value of options exercised during the six months ended September 27, 2014 was $91.9 million, and the cash received from options exercised during this period was $8.1 million. The total intrinsic value of options exercised during the six months ended September 28, 2013 was $128.5 million, and the cash received from options exercised during this period was $13.0 million. As of September 27, 2014, the remaining unrecognized share-based compensation expense for non-vested share options to be expensed in future periods is $39.1 million, and the related weighted-average period over which it is expected to be recognized is approximately 3.0 years.
	The weighted average grant date fair value for options granted during the three and six months ended September 27, 2014 was $26.63 and $28.66, respectively, and for the three and six months ended September 28, 2013 was $27.46 and $24.93, respectively. The following table represents assumptions used to estimate the fair value of options:
		Three Months Ended						Six Months Ended
		September 27,			September 28,			September 27,			September 28,
		2014			2013			2014			2013
	Expected dividend yield		0	%		0	%		0	%		0	%
	Volatility factor		33.1	%		43.3	%		33.3	%		46.1	%
	Weighted average risk-free interest rate		1.6	%		1.5	%		1.5	%		1	%
	Expected life of option		4.75 years			4.75 years			4.75 years			4.75 years
	Restricted Shares and Restricted Share Units
	The Company grants restricted shares and restricted share units at the fair market value at the date of the grant. Expense for restricted share grants is calculated based on the intrinsic value of the grant, which is the difference between the cost to the recipient and the fair market value of the underlying share (grants are generally issued at no cost to the recipient). Expense is recognized ratably over the vesting period which is generally three to four years from the date of the grant. Similar to share options, restricted share grants generally vest in four equal increments on each of the first, second, third and fourth anniversaries of the date on which such grants were awarded. With respect to restricted share units, there are two types: performance based vesting grants and time based vesting grants. Share units whose vesting is based on meeting certain performance criteria, vest in full, three years from their anniversary date only if certain cumulative performance targets are met at the end of the three year period. Expense related to these grants is recognized ratably over the three year performance period subject to the probability of the attainment of the related performance targets. Share units that vest based on time generally vest in full either on the first or fourth anniversary of the date of the grant, and are expensed accordingly.
	The following table summarizes restricted shares under the 2012 Plan as of September 27, 2014 and changes during the fiscal period then ended:
		Number of Unvested			Weighted
		Restricted Shares			Average Grant
					Date Fair Value
	Unvested at March 29, 2014		657,853		$	38.38
	Granted		378,975		$	93.08
	Vested		(45,489	)	$	62.18
	Canceled/forfeited		(19,222	)	$	61.06
	Unvested at September 27, 2014		972,117		$	57.73
	The total fair value of restricted shares vested during the six months ended September 27, 2014 was $5.8 million. The total fair value of restricted shares vested during the six months ended September 28, 2013 was $0.1 million. As of September 27, 2014, the remaining unrecognized share-based compensation expense for non-vested restricted share grants to be expensed in future periods is $47.0 million, and the related weighted-average period over which it is expected to be recognized is approximately 3.18 years.
	The following table summarizes restricted share units under the 2012 Plan as of September 27, 2014 and changes during the fiscal period then ended:
		Number of Unvested			Weighted
		Restricted Units			Average Grant
					Date Fair Value
	Unvested at March 29, 2014		199,779		$	58.31
	Granted		239,311		$	81.88
	Vested		(4,370	)	$	68.65
	Canceled/forfeited		(1,446	)	$	62.24
	Unvested at September 27, 2014		433,274		$	71.21
	As of September 27, 2014, the remaining unrecognized share-based compensation expense for non-vested restricted share units to be expensed in future periods is $21.4 million, and the related weighted-average period over which it is expected to be recognized is approximately 2.27 years.
	Compensation expense attributable to share-based compensation for the three and six months ended September 27, 2014 was approximately $13.4 million and $21.6 million, respectively. Compensation expense attributable to share-based compensation for the three and six months ended September 28, 2013 was approximately $7.6 million and $13.1 million, respectively. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates forfeitures based on its historical forfeiture rate since the inception of stock option granting. The estimated value of future forfeitures for equity grants as of September 27, 2014 is approximately $1.6 million.

Segment_Information

Segment Information	6 Months Ended
	Sep. 27, 2014
Segment Information	'
	11. Segment Information
	The Company operates its business through three operating segments—Retail, Wholesale and Licensing—which are based on its business activities and organization. The operating segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by executive management in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are net sales or revenue (in the case of Licensing) and operating income for each segment. The Company’s reportable segments represent channels of distribution that offer similar merchandise, customer experience and sales/marketing strategies. Sales of the Company’s products through Company owned stores for the Retail segment include “Collection,” “Lifestyle” including “concessions,” and outlet stores located throughout North America, Europe, and Japan. Products sold through the Retail segment include women’s apparel, accessories (which include handbags and small leather goods such as wallets), footwear and licensed products, such as watches, jewelry, fragrances and eyewear. The Wholesale segment includes sales primarily to major department stores and specialty shops throughout North America and Europe. Products sold through the Wholesale segment include accessories (which include handbags and small leather goods such as wallets), footwear and women’s and men’s apparel. The Licensing segment includes royalties earned on licensed products and use of the Company’s trademarks, and rights granted to third parties for the right to sell the Company’s products in certain geographical regions such as the South Pacific, the Middle East, Eastern Europe, Latin America and the Caribbean, as well as throughout all of Asia. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Corporate overhead expenses are allocated to the segments based upon specific usage or other allocation methods.
	The Company has allocated $12.1 million and $1.9 million of its recorded goodwill to its Wholesale and Licensing segments, respectively. The Company does not have identifiable assets separated by segment. The following table presents the key performance information of the Company’s reportable segments (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Revenue:
	Net sales: Retail	$	495,579	$	355,573	$	975,821	$	681,245
	Wholesale		514,090		351,871		920,885		642,447
	Licensing		46,936		32,859		79,053		57,470
	Total revenue	$	1,056,605	$	740,303	$	1,975,759	$	1,381,162
	Income from operations:
	Retail	$	127,334	$	103,133	$	270,023	$	206,247
	Wholesale		156,672		98,531		274,324		179,577
	Licensing		21,552		19,796		37,982		33,198
	Income from operations	$	305,558	$	221,460	$	582,329	$	419,022
	Depreciation and amortization expense for each segment are as follows (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Depreciation and amortization:
	Retail	$	22,022	$	10,716	$	39,987	$	20,433
	Wholesale		11,723		7,223		22,498		13,374
	Licensing		319		118		577		225
	Total depreciation and amortization	$	34,064	$	18,057	$	63,062	$	34,032
	Total revenue (as recognized based on country of origin), and long-lived assets by geographic location of the consolidated Company are as follows (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Revenue:
	North America (U.S. and Canada)	$	802,226	$	618,277	$	1,521,115	$	1,169,831
	Europe		237,924		114,049		423,421		195,528
	Other regions		16,455		7,977		31,223		15,803
	Total revenue	$	1,056,605	$	740,303	$	1,975,759	$	1,381,162
		As of
		September 27,		March 29,
		2014		2014
	Long-lived assets:
	North America (U.S. and Canada)	$	357,329	$	283,162
	Europe		141,419		108,074
	Other regions		8,366		7,476
	Total Long-lived assets:	$	507,114	$	398,712

Other_Income

Other Income	6 Months Ended
	Sep. 27, 2014
Other Income	'
	12. Other income
	Other income consists of the following (in thousands):
		Three Months Ended			Six Months Ended
		September 27,			September 27,
		2014			2014
	Income earned on joint venture	$	(108	)	$	(311	)
	Income related to anti-counterfeit program		(898	)		(1,038	)
	Net unrealized gains on foreign currency forward contracts		(1,045	)		(197	)
	Total Other income	$	(2,051	)	$	(1,546	)
	There were no amounts related to Other income during the three and six months ended September 28, 2013.

Agreements_with_Shareholders_a

Agreements with Shareholders and Related Party Transactions	6 Months Ended
	Sep. 27, 2014
Agreements with Shareholders and Related Party Transactions	'
	13. Agreements with Shareholders and Related Party Transactions
	The Company or its chief executive officer may arrange a plane owned by Sportswear Holdings Limited or its affiliates to be used for the Company’s directors and senior management for purposes of business travel on terms and conditions not less favorable to the Company than it would receive in an arm’s-length transaction with a third party. To the extent the Company’s chief executive officer enters into such an arrangement for business travel, the Company will reimburse him for the actual market price paid for the use of such plane. During the six months ended September 27, 2014, and September 28, 2013, the Company chartered this plane from Sportswear Holdings Limited for business purposes, the amounts of which were paid in cash and charged to operating expenses. Amounts charged to the Company in connection with these services were approximately $1.0 million and $0.8 million, for the six months ended September 27, 2014, and September 28, 2013, respectively.
	The Company’s Chief Creative Officer, Michael Kors, and the Company’s Chief Executive Officer, John Idol, and certain of the Company’s former shareholders, including Sportswear Holdings Limited, jointly own Michael Kors Far East Holdings Limited, a BVI company. During Fiscal 2012, the Company entered into certain licensing agreements with certain subsidiaries of Michael Kors Far East Holdings Limited (the “Licensees”) which provide the Licensees with certain exclusive rights for use of the Company’s trademarks within China, Hong Kong, Macau and Taiwan, and to import, sell, advertise and promote certain of the Company’s products in these regions, as well as to own and operate stores which bear the Company’s tradenames. The agreements between the Company and subsidiaries of Michael Kors Far East Holdings Limited expire on March 31, 2041, and may be terminated by the Company at certain intervals if certain minimum sales benchmarks are not met. For the six months ended September 27, 2014 and September 28, 2013, there were approximately $1.9 million and $0.4 million, respectively, of royalties earned under these agreements. These royalties were driven by Licensee sales (of the Company’s goods) to their customers of approximately $42.0 million, and $9.5 million, for the six months ended September 27, 2014 and September 28, 2013, respectively. In addition, the Company sells certain inventory items to the Licensees through its wholesale segment at terms consistent with those of similar licensees in the region. During the six months ended September 27, 2014 and September 28, 2013, amounts recognized as net sales in the Company’s consolidated statements of operations and other comprehensive income, related to these sales, were approximately $12.4 million and $3.1 million, respectively.
	The Company routinely purchases certain inventory from a manufacturer owned by one of its former directors. Amounts purchased during the six months ended September 27, 2014, and September 28, 2013, were $6.7 million and $3.4 million, respectively.

Subsequent_Events

Subsequent Events	6 Months Ended
	Sep. 27, 2014
Subsequent Events	'
	14. Subsequent Events
	On October 24, 2014, the Company purchased an aircraft from a former board member (who resigned on September 10, 2014) in the amount of $16.5 million. The purchase price was the fair market value of the aircraft at the purchase date and was no less favorable to the Company than it would have received in an arm’s-length transaction. The aircraft was purchased for purposes of business travel for the Company’s executives, and was recorded as a fixed asset in the Company’s consolidated balance sheets.
	On October 30, 2014, the Company’s Board of Directors authorized a $1.0 billion share repurchase program. The program allows for the repurchasing of the Company’s ordinary shares either in the open market or through privately negotiated transactions. The program authorizes repurchases for a two year period and may be suspended or discontinued at any time. Share repurchasing will be subject to market conditions, applicable legal requirements, as well as trading restrictions under the Company’s insider trading policy, and other relevant factors. The Company will account for any repurchased shares as treasury shares.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 27, 2014
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. The most significant assumptions and estimates involved in preparing the financial statements include allowances for customer deductions, sales returns, sales discounts and doubtful accounts, estimates of inventory recovery, the valuation of share-based compensation, valuation of deferred taxes and the estimated useful lives used for amortization and depreciation of intangible assets and property and equipment. Actual results could differ from those estimates.
Store Pre-opening Costs	'
	Store Pre-opening Costs
	Costs associated with the opening of new retail stores and start up activities are expensed as incurred.
Property and Equipment	'
	Property and Equipment
	Property and equipment is stated at cost less accumulated depreciation and amortization (carrying value). Depreciation is provided on a straight-line basis over the expected remaining useful lives of the related assets. Equipment, furniture and fixtures are depreciated over five to seven years, computer hardware and software are depreciated over three to five years, and in-store shops are amortized over three to four years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated remaining useful lives of the related assets or remaining lease term. The Company includes all amortization and depreciation expense as a component of total operating expenses, as the underlying long-lived assets are not directly or indirectly related to bringing the Company’s products to their existing location and condition.
Derivative Financial Instruments	'
	Derivative Financial Instruments
	The Company uses forward currency exchange contracts to manage its exposure to fluctuations in foreign currency for certain of its transactions. The Company in its normal course of business enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward currency contracts to hedge the Company’s cash flows, as they relate to foreign currency transactions, of which certain of these contracts are designated as hedges for accounting purposes, while others are undesignated hedges for hedge accounting purposes. These derivative instruments are recorded on the Company’s consolidated balance sheets at fair value, regardless of if they are designated or undesignated as hedges.
	The Company designates the majority of these forward currency contracts as hedges for hedge accounting purposes which are related to the purchase of inventory. Accordingly, the effective portion of changes in the fair value for contracts entered into during the six months ended September 27, 2014, designated as hedges, are recorded in equity as a component of accumulated other comprehensive income, and to cost of sales for any portion of those contracts deemed ineffective. The Company will continue to record changes in the fair value of hedge designated contracts in this manner until their maturity, where the unrealized gain or loss will be recognized into earnings in that period. For those contracts that are entered into that are not designated as hedges, changes in the fair value, as of each balance sheet date and upon maturity, are recorded in other income, within the Company’s consolidated statements of operations. During the six months ended September 27, 2014, a gain of approximately $0.2 million related to the change in fair value of these contracts was recorded in other income. In addition, the net unrealized gain related to contracts designated as hedges for $10.6 million, was charged to equity as a component of accumulated other comprehensive income during the six months ended September 27, 2014. For the six months ended September 27, 2014, amounts related to the ineffectiveness of these contracts were de minimis. The following table details the fair value of these contracts as of September 27, 2014, and March 29, 2014 (in thousands):
		September 27,			March 29,
		2014			2014
	Prepaid expenses and other current assets	$	10,604		$	12
	Accrued expenses and other current liabilities	$	(385	)	$	(1,875	)
	The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In attempts to mitigate counterparty credit risk, the Company enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term of no more than 12 months. The period of these contracts is directly related to the foreign transaction they are intended to hedge. The notional amount of these contracts outstanding at September 27, 2014 was approximately $194.0 million, which was comprised predominately of those designated as hedges.
Net Income Per Share	'
	Net Income Per Share
	The Company’s basic net income per share excludes the dilutive effect of share options and units, as well as unvested restricted shares. It is based upon the weighted average number of ordinary shares outstanding during the period divided into net income.
	Diluted net income per share reflects the potential dilution that would occur if share option grants or any other dilutive equity instruments were exercised or converted into ordinary shares. These equity instruments are included as potential dilutive securities to the extent they are dilutive under the treasury stock method for the applicable periods.
	The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in thousands except share and per share data):
		Three Months Ended						Six Months Ended
		September 27,			September 28,			September 27,		September 28,
		2014			2013			2014		2013
	Numerator:
	Net Income	$	206,990		$	145,808		$	394,706	$	270,804
	Denominator:
	Basic weighted average ordinary shares		204,464,952			202,560,870			204,107,262		202,686,313
	Weighted average dilutive share equivalents:
	Share options and restricted shares/units		2,967,298			2,593,822			3,196,985		2,860,878
	Diluted weighted average ordinary shares		207,432,250			205,154,692			207,304,247		205,547,191
	Basic net income per ordinary share	$	1.01		$	0.72		$	1.93	$	1.34
	Diluted net income per ordinary share	$	1		$	0.71		$	1.9	$	1.32
	Share equivalents for the three and six months ended September 27, 2014 for 231,893 shares and 135,720 shares, respectively, have been excluded from the above calculation as they were anti-dilutive. Share equivalents for the three and six months ended September 28, 2013 for 86,516 shares and 75,116 shares, respectively, have been excluded from the above calculation as they were anti-dilutive.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements—The Company has considered all new accounting pronouncements and, and with the exception of the below, has concluded that there are no new pronouncements that have a material impact on results of operations, financial condition, or cash flows, based on current information.
	In May, 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers, which amends how an entity is currently required to recognize revenue from contracts with its customers. The ASU will replace the existing revenue recognition guidance in GAAP when it becomes effective for entities in January 2017. Early application is not permitted. The Company is currently evaluating the impact that ASU 2014-09 will have on its consolidated financial statements and related disclosures.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Sep. 27, 2014
Fair Values of Forward Foreign Currency Exchange Contracts	'
	The following table details the fair value of these contracts as of September 27, 2014, and March 29, 2014 (in thousands):
		September 27,			March 29,
		2014			2014
	Prepaid expenses and other current assets	$	10,604		$	12
	Accrued expenses and other current liabilities	$	(385	)	$	(1,875	)
Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share	'
	The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in thousands except share and per share data):
		Three Months Ended						Six Months Ended
		September 27,			September 28,			September 27,		September 28,
		2014			2013			2014		2013
	Numerator:
	Net Income	$	206,990		$	145,808		$	394,706	$	270,804
	Denominator:
	Basic weighted average ordinary shares		204,464,952			202,560,870			204,107,262		202,686,313
	Weighted average dilutive share equivalents:
	Share options and restricted shares/units		2,967,298			2,593,822			3,196,985		2,860,878
	Diluted weighted average ordinary shares		207,432,250			205,154,692			207,304,247		205,547,191
	Basic net income per ordinary share	$	1.01		$	0.72		$	1.93	$	1.34
	Diluted net income per ordinary share	$	1		$	0.71		$	1.9	$	1.32

Receivables_net_Tables

Receivables, net (Tables)	6 Months Ended
	Sep. 27, 2014
Receivables, net	'
	Receivables, net consist of (in thousands):
		September 27,			March 29,
		2014			2014
	Trade receivables:
	Credit risk assumed by factors/insured	$	326,284		$	261,900
	Credit risk retained by Company		65,023			109,094
	Receivables due from licensees		30,436			11,302
			421,743			382,296
	Less allowances:		(74,921	)		(68,241	)
		$	346,822		$	314,055

Property_and_Equipment_Net_Tab

Property and Equipment, Net (Tables)	6 Months Ended
	Sep. 27, 2014
Property and Equipment, Net	'
	Property and equipment, net consist of (in thousands):
		September 27,			March 29,
		2014			2014
	Furniture and fixtures	$	136,046		$	108,757
	Equipment		51,619			31,683
	Computer equipment and software		75,851			50,646
	In-store shops		147,112			123,637
	Leasehold improvements		249,951			216,451
			660,579			531,174
	Less: accumulated depreciation and amortization		(283,087	)		(234,381	)
			377,492			296,793
	Construction-in-progress		76,344			53,885
		$	453,836		$	350,678

Intangible_Assets_and_Goodwill1

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Sep. 27, 2014
Carrying Values of Intangible Assets and Goodwill	'
	The following table discloses the carrying values of intangible assets and goodwill (in thousands):
		September 27, 2014						March 29, 2014
		Gross		Accumulated		Net		Gross		Accumulated		Net
		Carrying		Amortization				Carrying		Amortization
		Amount						Amount
	Trademarks	$	23,000	$	13,419	$	9,581	$	23,000	$	12,845	$	10,155
	Lease Rights		50,135		6,438		43,697		41,748		3,869		37,879
	Goodwill		14,005		—		14,005		14,005		—		14,005
		$	87,140	$	19,857	$	67,283	$	78,753	$	16,714	$	62,039
Estimated Amortization Expense	'
	Estimated amortization expense for each of the next five years is as follows (in thousands):
	Remainder of Fiscal 2015	$	3,946
	Fiscal 2016		8,357
	Fiscal 2017		8,355
	Fiscal 2018		8,321
	Fiscal 2019		7,368
	Thereafter		16,931
		$	53,278

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Sep. 27, 2014
Contracts Categorized in Level 2 of Fair Value Hierarchy	'
	All contracts are categorized in Level 2 of the fair value hierarchy as shown in the following table:
					Fair value at September 27, 2014, using:
	(In thousands)	Total			Quoted prices in		Significant other			Significant
					active markets for		observable			unobservable
					identical assets		inputs			inputs
					(Level 1)		(Level 2)			(Level 3)
	Foreign currency forward contracts- Euro to U.S. Dollar	$	10,404		$	—	$	10,404		$	—
	Foreign currency forward contracts- Canadian Dollar to U.S. Dollar		200			—		200			—
	Foreign currency forward contracts- U.S. Dollar to Euro		(385	)		—		(385	)		—
	Total	$	10,219		$	—	$	10,219		$	—

Other_Comprehensive_Income_Hed1

Other Comprehensive Income- Hedging Instruments (Tables)

6 Months Ended

Sep. 27, 2014

Impact of Effective Portion of Gains and Losses of Forward Contracts Designated as Hedges

'

The following table summarizes the impact of the effective portion of gains and losses of the forward contracts designated as hedges for the three and six months ended September 27, 2014 (in thousands):

Three Months Ended September 27, 2014

Six Months Ended Septeber 27, 2014

Pre-Tax

(Loss)

Pre-Tax

(Loss)

Gain

Reclassified from

Gain Recognized

Reclassified from

Recognized

Accumulated OCI

in OCI

Accumulated OCI

in OCI

into Earnings

(Effective Portion)

into Earnings

(Effective Portion)

(Effective Portion)

(Effective Portion)

Forward currency exchange contracts

$

10,222

$

(249

)

$

11,895

$

(1,383

)

The following table summarizes the impact of the effective portion of gains and losses of the forward contracts designated as hedges for the three and six months ended September 28, 2013:

Three Months Ended September 28, 2013

Six Months Ended Septeber 28, 2013

Pre-Tax

Gain

Pre-Tax

Gain

(Loss)

Reclassified from

(Loss)

Reclassified from

Recognized

Accumulated OCI

Recognized

Accumulated OCI

in OCI

into Earnings

in OCI

into Earnings

(Effective Portion)

(Effective Portion)

(Effective Portion)

(Effective Portion)

Forward currency exchange contracts

$

(2,892

)

$

227

$

(3,513

)

$

555

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	6 Months Ended
	Sep. 27, 2014
Option Activity and Information about Options Outstanding	'
	The following table summarizes the share option activity during the six months ended September 27, 2014, and information about options outstanding at September 27, 2014:
		Number of			Weighted			Weighted			Aggregate
		Options			Average			Average			Intrinsic
					Exercise price			Remaining			Value
								Contractual			(in thousands)
								Life (years)
	Outstanding at March 29, 2014		8,377,928		$	13.69
	Granted		724,746		$	92.73
	Exercised		(1,142,083	)	$	7.13
	Canceled/forfeited		(126,703	)	$	29.2
	Outstanding at September 27, 2014		7,833,888		$	21.7			5.84		$	405,430
	Vested or expected to vest at September 27, 2014		7,677,210		$	21.7			5.84
	Vested and exercisable at September 27, 2014		3,388,805		$	10.26			5.56		$	207,492
Assumptions Used to Estimate Fair Value of Options	'
	The following table represents assumptions used to estimate the fair value of options:
		Three Months Ended						Six Months Ended
		September 27,			September 28,			September 27,			September 28,
		2014			2013			2014			2013
	Expected dividend yield		0	%		0	%		0	%		0	%
	Volatility factor		33.1	%		43.3	%		33.3	%		46.1	%
	Weighted average risk-free interest rate		1.6	%		1.5	%		1.5	%		1	%
	Expected life of option		4.75 years			4.75 years			4.75 years			4.75 years
Restricted Shares and Restricted Share Units	'
	The following table summarizes restricted shares under the 2012 Plan as of September 27, 2014 and changes during the fiscal period then ended:
		Number of Unvested			Weighted
		Restricted Shares			Average Grant
					Date Fair Value
	Unvested at March 29, 2014		657,853		$	38.38
	Granted		378,975		$	93.08
	Vested		(45,489	)	$	62.18
	Canceled/forfeited		(19,222	)	$	61.06
	Unvested at September 27, 2014		972,117		$	57.73
	The following table summarizes restricted share units under the 2012 Plan as of September 27, 2014 and changes during the fiscal period then ended:
		Number of Unvested			Weighted
		Restricted Units			Average Grant
					Date Fair Value
	Unvested at March 29, 2014		199,779		$	58.31
	Granted		239,311		$	81.88
	Vested		(4,370	)	$	68.65
	Canceled/forfeited		(1,446	)	$	62.24
	Unvested at September 27, 2014		433,274		$	71.21

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Sep. 27, 2014
Key Performance Information of Reportable Segments	'
	The following table presents the key performance information of the Company’s reportable segments (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Revenue:
	Net sales: Retail	$	495,579	$	355,573	$	975,821	$	681,245
	Wholesale		514,090		351,871		920,885		642,447
	Licensing		46,936		32,859		79,053		57,470
	Total revenue	$	1,056,605	$	740,303	$	1,975,759	$	1,381,162
	Income from operations:
	Retail	$	127,334	$	103,133	$	270,023	$	206,247
	Wholesale		156,672		98,531		274,324		179,577
	Licensing		21,552		19,796		37,982		33,198
	Income from operations	$	305,558	$	221,460	$	582,329	$	419,022
Depreciation and Amortization Expense for Each Segment	'
	Depreciation and amortization expense for each segment are as follows (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Depreciation and amortization:
	Retail	$	22,022	$	10,716	$	39,987	$	20,433
	Wholesale		11,723		7,223		22,498		13,374
	Licensing		319		118		577		225
	Total depreciation and amortization	$	34,064	$	18,057	$	63,062	$	34,032
Total Revenue (as Recognized Based on Country of Origin)	'
	Total revenue (as recognized based on country of origin), and long-lived assets by geographic location of the consolidated Company are as follows (in thousands):
		Three Months Ended				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Revenue:
	North America (U.S. and Canada)	$	802,226	$	618,277	$	1,521,115	$	1,169,831
	Europe		237,924		114,049		423,421		195,528
	Other regions		16,455		7,977		31,223		15,803
	Total revenue	$	1,056,605	$	740,303	$	1,975,759	$	1,381,162
Long-Lived Assets by Geographic Location	'
		As of
		September 27,		March 29,
		2014		2014
	Long-lived assets:
	North America (U.S. and Canada)	$	357,329	$	283,162
	Europe		141,419		108,074
	Other regions		8,366		7,476
	Total Long-lived assets:	$	507,114	$	398,712

Other_Income_Tables

Other Income (Tables)	6 Months Ended
	Sep. 27, 2014
Other Income	'
	Other income consists of the following (in thousands):
		Three Months Ended			Six Months Ended
		September 27,			September 27,
		2014			2014
	Income earned on joint venture	$	(108	)	$	(311	)
	Income related to anti-counterfeit program		(898	)		(1,038	)
	Net unrealized gains on foreign currency forward contracts		(1,045	)		(197	)
	Total Other income	$	(2,051	)	$	(1,546	)

Business_and_Basis_of_Presenta1

Business and Basis of Presentation - Additional Information (Detail) (Secondary Public Offering, USD $)	1 Months Ended	3 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 27, 2014
Secondary Public Offering	'	'
Public Offering [Line Items]	'	'
Issuance of new shares, shares	11,629,627	'
Issuance of new shares, price per share	$76.75	$76.75
Fees related to secondary offering	'	$0.70

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Stock Options	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Anti-dilutive securities excluded from computation of earning per share	231,893	86,516	135,720	75,116
Equipment, Furniture And Fixtures | Minimum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'5 years	'
Equipment, Furniture And Fixtures | Maximum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'7 years	'
Computer Equipment And Software | Minimum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'3 years	'
Computer Equipment And Software | Maximum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'5 years	'
In-Store Shops | Minimum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'3 years	'
In-Store Shops | Maximum	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Property, plant and equipment, useful life	'	'	'4 years	'
Foreign Exchange Forward | Not Designated as Hedging Instrument	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Forward contracts term, maximum	'	'	'12 months	'
Foreign Exchange Forward | Not Designated as Hedging Instrument | Other Income	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Gain (loss) on forward contracts	'	'	200,000	'
Foreign Exchange Forward | Designated as Hedging Instrument	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Net unrealized gain on derivatives	'	'	10,600,000	'
Notional amount of forward contract	194,000,000	'	194,000,000	'

Fair_Values_of_Forward_Foreign

Fair Values of Forward Foreign Currency Exchange Contracts (Detail) (Foreign Exchange Forward, Not Designated as Hedging Instrument, USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Prepaid Expenses and Other Current Assets	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair value of derivative assets	$10,604	$12
Accrued Expenses and Other Current Liabilities	'	'
Derivatives, Fair Value [Line Items]	'	'
Fair value of derivative liabilities	($385)	($1,875)

Components_of_Calculation_of_B

Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Numerator:	'	'	'	'
Net income	$206,990	$145,808	$394,706	$270,804
Denominator:	'	'	'	'
Basic weighted average ordinary shares	204,464,952	202,560,870	204,107,262	202,686,313
Weighted average dilutive share equivalents:	'	'	'	'
Share options and restricted shares/units	2,967,298	2,593,822	3,196,985	2,860,878
Diluted weighted average ordinary shares	207,432,250	205,154,692	207,304,247	205,547,191
Basic net income per ordinary share	$1.01	$0.72	$1.93	$1.34
Diluted net income per ordinary share	$1	$0.71	$1.90	$1.32

Receivables_net_Detail

Receivables, net (Detail) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Receivables due from licensees	$30,436	$11,302
Receivables, Gross, Current	421,743	382,296
Less allowances	-74,921	-68,241
Receivables, net	346,822	314,055
Credit Risk Assumed by Factors/Insured	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Trade receivables	326,284	261,900
Credit Risk Assumed by Company	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Trade receivables	$65,023	$109,094

Receivables_Additional_Informa

Receivables - Additional Information (Detail) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Millions, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Allowance for doubtful accounts	$1.10	$1.50

Property_and_Equipment_Detail

Property and Equipment (Detail) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	$660,579	$531,174
Less: accumulated depreciation and amortization	-283,087	-234,381
Subtotal	377,492	296,793
Construction-in-progress	76,344	53,885
Property and equipment, net	453,836	350,678
Furniture and Fixtures	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	136,046	108,757
Equipment	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	51,619	31,683
Computer Equipment And Software	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	75,851	50,646
In-Store Shops	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	147,112	123,637
Leasehold Improvement	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, gross	$249,951	$216,451

Property_and_Equipment_Net_Add

Property and Equipment, Net - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'
Depreciation and amortization of property and equipment	$32.20	$17.50	$59.60	$33.10

Carrying_Values_of_Intangible_

Carrying Values of Intangible Assets and Goodwill (Detail) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Intangible Assets And Goodwill [Line Items]	'	'
Goodwill, Gross Carrying Amount	$14,005	$14,005
Goodwill, Net	14,005	14,005
Gross Carrying Amount	87,140	78,753
Accumulated Amortization	19,857	16,714
Net	53,278	48,034
Net	67,283	62,039
Trademarks	'	'
Intangible Assets And Goodwill [Line Items]	'	'
Gross Carrying Amount	23,000	23,000
Accumulated Amortization	13,419	12,845
Net	9,581	10,155
Lease Rights	'	'
Intangible Assets And Goodwill [Line Items]	'	'
Gross Carrying Amount	50,135	41,748
Accumulated Amortization	6,438	3,869
Net	$43,697	$37,879

Intangible_Assets_and_Goodwill2

Intangible Assets and Goodwill - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Intangible Assets And Goodwill [Line Items]	'	'	'	'
Amortization expense	$1.90	$0.50	$3.50	$1
Trademarks	'	'	'	'
Intangible Assets And Goodwill [Line Items]	'	'	'	'
Amortization period	'	'	'20 years	'

Estimated_Amortization_Expense

Estimated Amortization Expense (Detail) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]	'	'
Remainder of Fiscal 2015	$3,946	'
Fiscal 2016	8,357	'
Fiscal 2017	8,355	'
Fiscal 2018	8,321	'
Fiscal 2019	7,368	'
Thereafter	16,931	'
Net	$53,278	$48,034

Credit_Facilities_Additional_I

Credit Facilities - Additional Information (Detail) (USD $)	6 Months Ended			6 Months Ended		6 Months Ended
	Sep. 28, 2013	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014
		Credit Facility 2013	Credit Facility 2013	Credit Facility 2013	Credit Facility 2013	Credit Facility 2013	Credit Facility 2013	Standby Letters of Credit
			Europe	Minimum	Minimum	Maximum	Maximum
					L I B O Rate		L I B O Rate
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'
Line of credit facility maximum borrowing capacity	'	$200,000,000	$100,000,000	'	'	'	'	'
Secured revolving credit facility, Expiration date	'	8-Feb-18	'	'	'	'	'	'
Line of credit facility covenant adjusted leverage ratio	'	3.5	'	'	'	'	'	'
Line of credit facility consolidated rent expense	'	'8.0 times	'	'	'	'	'	'
Minimum fixed charge coverage ratio	'	2	'	'	'	'	'	'
Interest rate	'	'	'	'	1.25%	'	1.75%	'
Line of Credit Annual Facility fee on unused portion	'	100,000	'	'	'	'	'	'
Line of Credit Annual Commitment fees on unused portion	'	'	'	0.25%	'	0.35%	'	'
Line of credit facility amount outstanding	'	0	'	'	'	'	'	11,600,000
Line of credit facility, amounts borrowed	18,361,000	0	'	'	'	'	'	'
Line of credit facility available for future borrowings	'	$188,400,000	'	'	'	'	'	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Additional Information (Detail) (Foreign Exchange Forward, Not Designated as Hedging Instrument)	6 Months Ended
	Sep. 27, 2014
Foreign Exchange Forward | Not Designated as Hedging Instrument	'
Fair Value of Financial Instruments [Line Items]	'
Forward contracts term, maximum	'12 months

Contracts_Categorized_in_Level

Contracts Categorized in Level 2 of Fair Value Hierarchy (Detail) (USD $)	Sep. 27, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Total	$10,219
Euro to U.S. Dollar	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Asset	10,404
Canadian Dollar to U.S. Dollar	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Asset	200
U.S. Dollar to Euro	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Liability	-385
Fair Value, Inputs, Level 2	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Total	10,219
Fair Value, Inputs, Level 2 | Euro to U.S. Dollar	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Asset	10,404
Fair Value, Inputs, Level 2 | Canadian Dollar to U.S. Dollar	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Asset	200
Fair Value, Inputs, Level 2 | U.S. Dollar to Euro	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Foreign currency forward contracts-Liability	($385)

Impact_of_Effective_Portion_of

Impact of Effective Portion of Gains and Losses of Forward Contracts Designated as Hedges (Detail) (Foreign Exchange Contract, Designated as Hedging Instrument, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Foreign Exchange Contract | Designated as Hedging Instrument	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Pre-Tax Gain (Loss) Recognized in OCI (Effective Portion)	$10,222	($2,892)	$11,895	($3,513)
Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	($249)	$227	($1,383)	$555

ShareBased_Compensation_Additi

Share-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
	EquityPlan		OptionPlan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Number of equity plans	2	'	'	'
Number of stock option grants	'	'	2	'
Outstanding option non-vested	4,445,083	'	4,445,083	'
Outstanding option vested	'	'	3,388,805	'
Intrinsic value of option exercised	'	'	$91.90	$128.50
Cash received from options exercised	'	'	8.1	13
Unrecognized stock based compensation expense	39.1	'	39.1	'
Weighted average period of recognition	'	'	'3 years	'
Weighted average grant date fair value of option	$26.63	$27.46	$28.66	$24.93
Equity compensation expense	13.4	7.6	21.6	13.1
Estimated value of future forfeitures	1.6	'	1.6	'
Individual Performance Based Stock Option	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Vesting percentage on achievement of individual performance	'	'	20.00%	'
Performance target achievement term	'	'	'10 years	'
Individual performance vesting tranches	5	'	5	'
Company Wide Performance Based Stock Option	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Performance target achievement term	'	'	'10 years	'
Time Based Option Award	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Number of installments for vesting period on each of the first, second, third and fourth anniversaries date of award	'	'	4	'
Restricted Shares	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Number of installments for vesting period on each of the first, second, third and fourth anniversaries date of award	'	'	4	'
Weighted average period of recognition	'	'	'3 years 2 months 5 days	'
Fair value of restricted shares vested during a period	'	'	5.8	0.1
Unrecognized stock based compensation expense	47	'	47	'
Restricted Shares | Minimum	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Share-based compensation, vesting period	'	'	'3 years	'
Restricted Shares | Maximum	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Share-based compensation, vesting period	'	'	'4 years	'
Restricted Share Units	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Weighted average period of recognition	'	'	'2 years 3 months 7 days	'
Unrecognized stock based compensation expense	$21.40	'	$21.40	'
Restricted Stock Units Performance Vesting	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Share-based compensation, vesting period	'	'	'3 years	'
Expense related to grants recognizable period	'	'	'3 years	'
Stock Option Plan 2008	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Share authorized for issuance	23,980,823	'	23,980,823	'
Expiration period	'10 years	'	'	'
Omnibus Incentive Plan, Twenty Twelve	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Share authorized for issuance	15,246,000	'	15,246,000	'
Shares available for grant	10,701,997	'	10,701,997	'
Expiration period	'7 years	'	'	'

Option_Activity_and_Informatio

Option Activity and Information about Options Outstanding (Detail) (USD $)	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014
Number of options	'
Outstanding at beginning of period	8,377,928
Granted	724,746
Exercised	-1,142,083
Canceled/forfeited	-126,703
Outstanding at end of period	7,833,888
Vested or expected to vest at end of period	7,677,210
Vested and exercisable at end of period	3,388,805
Weighted Average Exercise Price	'
Outstanding at beginning of period	$13.69
Granted	$92.73
Exercised	$7.13
Canceled/forfeited	$29.20
Outstanding at end of period	$21.70
Vested or expected to vest at end of period	$21.70
Vested and exercisable at end of period	$10.26
Weighted Average Remaining Contractual Life (years)	'
Outstanding at end of period	'5 years 10 months 2 days
Vested or expected to vest at end of period	'5 years 10 months 2 days
Vested and exercisable at end of period	'5 years 6 months 22 days
Aggregate Intrinsic Value	'
Outstanding at September 27, 2014	$405,430
Vested and exercisable at September 27, 2014	$207,492

Assumptions_Used_to_Estimate_F

Assumptions Used to Estimate Fair Value of Options (Detail)	3 Months Ended		6 Months Ended
	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Volatility factor	33.10%	43.30%	33.30%	46.10%
Weighted average risk-free interest rate	1.60%	1.50%	1.50%	1.00%
Expected life of option	'4 years 9 months	'4 years 9 months	'4 years 9 months	'4 years 9 months

Restricted_Shares_and_Restrict

Restricted Shares and Restricted Share Units (Detail) (USD $)	6 Months Ended
	Sep. 27, 2014
Restricted Shares	'
Number of Unvested Restricted Shares/Units	'
Unvested at beginning of period	657,853
Granted	378,975
Vested	-45,489
Canceled/forfeited	-19,222
Unvested at end of period	972,117
Weighted Average Grant Date Fair Value	'
Unvested at beginning of period	$38.38
Granted	$93.08
Vested	$62.18
Canceled/forfeited	$61.06
Unvested at end of period	$57.73
Restricted Share Units	'
Number of Unvested Restricted Shares/Units	'
Unvested at beginning of period	199,779
Granted	239,311
Vested	-4,370
Canceled/forfeited	-1,446
Unvested at end of period	433,274
Weighted Average Grant Date Fair Value	'
Unvested at beginning of period	$58.31
Granted	$81.88
Vested	$68.65
Canceled/forfeited	$62.24
Unvested at end of period	$71.21

Segment_Information_Additional

Segment Information - Additional Information (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
	Segment
Segment Reporting Information [Line Items]	'	'
Number of operating segments	3	'
Goodwill	$14,005	$14,005
Wholesale	'	'
Segment Reporting Information [Line Items]	'	'
Goodwill	12,100	'
Licensing	'	'
Segment Reporting Information [Line Items]	'	'
Goodwill	$1,900	'

Key_Performance_Information_of

Key Performance Information of Reportable Segments (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	$1,056,605	$740,303	$1,975,759	$1,381,162
Income from operations	305,558	221,460	582,329	419,022
Retail	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	495,579	355,573	975,821	681,245
Income from operations	127,334	103,133	270,023	206,247
Wholesale	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	514,090	351,871	920,885	642,447
Income from operations	156,672	98,531	274,324	179,577
Licensing	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	46,936	32,859	79,053	57,470
Income from operations	$21,552	$19,796	$37,982	$33,198

Depreciation_and_Amortization_

Depreciation and Amortization Expense for Each Segment (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Depreciation By Segment [Line Items]	'	'	'	'
Depreciation and amortization	$34,064	$18,057	$63,062	$34,032
Retail	'	'	'	'
Depreciation By Segment [Line Items]	'	'	'	'
Depreciation and amortization	22,022	10,716	39,987	20,433
Wholesale	'	'	'	'
Depreciation By Segment [Line Items]	'	'	'	'
Depreciation and amortization	11,723	7,223	22,498	13,374
Licensing	'	'	'	'
Depreciation By Segment [Line Items]	'	'	'	'
Depreciation and amortization	$319	$118	$577	$225

Total_Revenue_as_Recognized_Ba

Total Revenue (as Recognized Based on Country of Origin), and Long-Lived Assets by Geographic Location (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Mar. 29, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Revenue	$1,056,605	$740,303	$1,975,759	$1,381,162	'
Long-lived assets	507,114	'	507,114	'	398,712
North America (U.S. and Canada)	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Revenue	802,226	618,277	1,521,115	1,169,831	'
Long-lived assets	357,329	'	357,329	'	283,162
Europe	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Revenue	237,924	114,049	423,421	195,528	'
Long-lived assets	141,419	'	141,419	'	108,074
Other Regions	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Revenue	16,455	7,977	31,223	15,803	'
Long-lived assets	$8,366	'	$8,366	'	$7,476

Other_Income_Detail

Other Income (Detail) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 27, 2014
Components of Other Income (Expense) [Line Items]	'	'
Income earned on joint venture	($108)	($311)
Income related to anti-counterfeit program	-898	-1,038
Net unrealized gains on foreign currency forward contracts	-1,045	-197
Total Other income	($2,051)	($1,546)

Agreements_with_Shareholders_a1

Agreements with Shareholders and Related Party Transactions - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Related Party Transaction [Line Items]	'	'	'	'
Amount charged to operating expenses	'	'	$1,000,000	$800,000
Agreements between the Company and Far East Holdings Limited expiry date	'	'	31-Mar-41	'
Royalties earned	'	'	1,900,000	400,000
Net sales related to inventory items to the Licensees	'	'	12,400,000	3,100,000
Net sales	1,009,669,000	707,444,000	1,896,706,000	1,323,692,000
Director	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Inventory purchased from manufacturer owned by one of its directors	'	'	6,700,000	3,400,000
Licensee	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Net sales	'	'	$42,000,000	$9,500,000

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	6 Months Ended		0 Months Ended
	Sep. 27, 2014	Sep. 28, 2013	Oct. 30, 2014	Oct. 24, 2014	Oct. 30, 2014
			Subsequent Event	Subsequent Event	Subsequent Event
Subsequent Event [Line Items]	'	'	'	'	'
Purchase price of aircraft	$157,403,000	$73,580,000	'	$16,500,000	'
Share repurchase authorized	'	'	'	'	$1,000,000,000
Share repurchase program, repurchase period	'	'	'2 years	'	'