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Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of goods sold	$ (446.4)	$ (464.5)
Income tax provision	(48.0)	(38.5)
Net income	168.6	132.1
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Income tax provision	(0.3)	(0.6)
Net income	1.9	4.3
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of goods sold	$ 2.2	$ 4.9

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 29, 2024

Summary of Significant Accounting Policies (Tables) [Abstract]

Contractually-Guaranteed Minimum Royalties

As of June 29, 2024, contractually-guaranteed minimum royalty amounts expected to be recognized as revenue during future periods were as follows:


	Contractually-Guaranteed Minimum Royalties(a)
	(millions)
Remainder of Fiscal 2025	$	61.6
Fiscal 2026	66.5
Fiscal 2027	64.9
Fiscal 2028	30.0
Fiscal 2029 and thereafter	14.1
Total	$	237.1

(a)Amounts presented do not contemplate potential contract renewals or royalties earned in excess of the contractually-guaranteed minimums.

Disaggregation of Revenue

The following table disaggregates the Company's net revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors for the fiscal periods presented:


	Three Months Ended
	June 29, 2024										July 1, 2023
	North America		Europe		Asia		Other		Total		North America		Europe		Asia		Other		Total
	(millions)
Sales Channel(a):
Retail	$	416.7	$	245.1	$	370.8	$	—	$	1,032.6	$	411.0	$	226.7	$	352.1	$	—	$	989.8
Wholesale	191.5		234.0		20.1		—		445.6		220.7		223.8		25.4		—		469.9
Licensing	—		—		—		34.0		34.0		—		—		—		36.8		36.8
Total	$	608.2	$	479.1	$	390.9	$	34.0	$	1,512.2	$	631.7	$	450.5	$	377.5	$	36.8	$	1,496.5

(a)Net revenues from the Company's retail and wholesale businesses are recognized at a point in time. Net revenues from the Company's licensing business are recognized over time.

Shipping and Handling Charges

A summary of shipping and handling costs for the fiscal periods presented is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Shipping costs		$	17.3	$	16.9
Handling costs		35.1		39.2

Summary of Basic and Diluted shares

The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows:


	Three Months Ended
		June 29, 2024	July 1, 2023
		(millions)
Basic shares		63.2	65.9
Dilutive effect of RSUs		1.4	1.5
Diluted shares		64.6	67.4

Sales Returns and Allowances [Member]

Summary of Significant Accounting Policies (Tables) [Abstract]

Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances

A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Beginning reserve balance		$	143.1	$	148.1
Amount charged against revenue to increase reserve		94.8		95.6
Amount credited against customer accounts to decrease reserve		(110.6)		(107.5)
Foreign currency translation		(1.0)		(1.0)
Ending reserve balance		$	126.3	$	135.2

Allowance for Doubtful Accounts

Summary of Significant Accounting Policies (Tables) [Abstract]

A rollforward of the activity in the Company's allowance for doubtful accounts is presented as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Beginning reserve balance		$	32.2	$	27.2
Amount recorded to expense to increase (decrease) reserve(a)		0.8		(0.8)
Amount written-off against customer accounts to decrease reserve		(0.4)		(0.6)
Foreign currency translation		(0.1)		(0.2)
Ending reserve balance		$	32.5	$	25.6

(a)Amounts recorded to bad debt expense are included within SG&A expenses in the consolidated statements of operations.

Recently Issued Accounting Standards	3 Months Ended
Recently Issued Accounting Standards	Jun. 29, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09, "Improvements to Income Tax Disclosures" ("ASU 2023-09"). ASU 2023-09 is intended to enhance the transparency and usefulness of annual income tax disclosures. Among its provisions, ASU 2023-09 requires disclosure of a reconciliation between an entity's effective tax rate, which is calculated by dividing each fiscal period's income tax provision by pretax income, and its statutory rate utilizing eight specific categories, along with a separate disclosure for reconciling items that meet a 5% quantitative threshold. In addition, ASU 2023-09 requires disclosure of income taxes paid (net of refunds received), disaggregated by federal, state, and foreign taxes, as well as by individual jurisdictions if a 5% quantitative threshold is met. ASU 2023-09 is effective for the Company for annual periods beginning with its fiscal year ending March 28, 2026 ("Fiscal 2026") and is to be applied prospectively, although retrospective application is permitted. Early adoption is also permitted. Other than the new disclosure requirements, ASU 2023-09 will not have an impact on the Company's consolidated financial statements. Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU No. 2023-07, "Improvements to Reportable Segment Disclosures" ("ASU 2023-07"). ASU 2023-07 requires entities to make certain enhanced segment disclosures on both an annual and interim basis, including disclosure of significant segment expenses that are regularly provided to their chief operating decision maker (the "CODM") as defined within Accounting Standards Codification Topic 280, "Segment Reporting," as well as various information about an entity's CODM, among other provisions. ASU 2023-07 does not change how entities identify their operating segments, aggregate them, or apply the quantitative thresholds to determine their reportable segments. The annual disclosures required by ASU 2023-07 are effective for the Company beginning in Fiscal 2025, with interim disclosures effective beginning in Fiscal 2026. The provisions of ASU 2023-07 are to be applied retrospectively to all prior periods presented. Early adoption is permitted. Other than the new disclosure requirements, ASU 2023-07 will not have an impact on the Company's consolidated financial statements. Disclosure of Supplier Finance Program Obligations In September 2022, the FASB issued ASU No. 2022-04, "Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period and an annual rollforward of such obligations. This standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. ASU 2022-04 became effective for the Company beginning in its Fiscal 2024 and was applied retrospectively to all periods in which a balance sheet is presented. The annual rollforward disclosure is not required to be made until the Company's Fiscal 2025 and is to be applied prospectively. The Company adopted ASU 2022-04 as of the beginning of Fiscal 2024. Other than the new disclosure requirements, ASU 2022-04 did not have an impact on the Company's consolidated financial statements. See Note 3 for further discussion of the Company's supplier finance program.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Financial Instruments (Details Textual) $ in Millions	3 Months Ended
Financial Instruments (Details Textual) $ in Millions	Jun. 29, 2024 USD ($) counterparty
Derivative [Line Items]
Number of counterparties to master netting arrangements \| counterparty	8
Net gains (losses) deferred in AOCI for derivative financial instruments expected to be recognized in the earnings over the next 12 months \| $	$ 11.9
Minimum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Term of Contract	2 months
Maximum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Term of Contract	1 year

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 29, 2024	Aug. 01, 2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	001-13057
Entity Registrant Name	Ralph Lauren Corporation
Entity Central Index Key	0001037038
Current Fiscal Year End Date	--03-29
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2622036
Entity Address, Address Line One	650 Madison Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	318-7000
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	RL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A common stock
Entity Common Stock, Shares Outstanding		40,058,102
Class B common stock
Entity Common Stock, Shares Outstanding		21,881,276

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Accounting Policies [Abstract]
Shipping Costs	$ 17.3	$ 16.9
Handling Costs	$ 35.1	$ 39.2

Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended
Financial Instruments (Details 3) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 3.1	$ 3.5
Foreign Exchange Forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 3.1	$ 3.5

Stock-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
Stock-based Compensation (Details) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements
Compensation expense	$ 24.3	$ 21.4
Income tax benefit	$ (3.2)	$ (3.3)

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,512.2	$ 1,496.5
North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	608.2	631.7
Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	479.1	450.5
Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	390.9	377.5
Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	34.0	36.8
Transferred at Point in Time [Member] \| Retail [Member]
Disaggregation of Revenue [Line Items]
Net revenues	1,032.6	989.8
Transferred at Point in Time [Member] \| Retail [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	416.7	411.0
Transferred at Point in Time [Member] \| Retail [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	245.1	226.7
Transferred at Point in Time [Member] \| Retail [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	370.8	352.1
Transferred at Point in Time [Member] \| Retail [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0.0	0.0
Transferred at Point in Time [Member] \| Wholesale [Member]
Disaggregation of Revenue [Line Items]
Net revenues	445.6	469.9
Transferred at Point in Time [Member] \| Wholesale [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	191.5	220.7
Transferred at Point in Time [Member] \| Wholesale [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	234.0	223.8
Transferred at Point in Time [Member] \| Wholesale [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	20.1	25.4
Transferred at Point in Time [Member] \| Wholesale [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0.0	0.0
Transferred over Time [Member] \| Licensing [Member]
Disaggregation of Revenue [Line Items]
Net revenues	34.0	36.8
Transferred over Time [Member] \| Licensing [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0.0	0.0
Transferred over Time [Member] \| Licensing [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0.0	0.0
Transferred over Time [Member] \| Licensing [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0.0	0.0
Transferred over Time [Member] \| Licensing [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	$ 34.0	$ 36.8

Stock-based Compensation (Details 2) - Performance shares, including TSR awards shares in Thousands	3 Months Ended
	Jun. 29, 2024 shares
Summary of RSU activity
Nonvested beginning balance	682
Granted	0
Change due to performance and/or market condition achievement	72
Vested	(281)
Forfeited	0
Nonvested ending balance	473

Other Assets and Liabilities

3 Months Ended

Jun. 29, 2024

Balance Sheet Related Disclosures [Abstract]

Other Assets and Liabilities

Prepaid expenses and other current assets consist of the following:


	June 29, 2024		March 30, 2024
	(millions)

Prepaid software maintenance	$	33.3	$	19.2
Prepaid marketing and advertising	30.8		19.6
Non-trade receivables	22.9		27.2
Other taxes receivable	20.9		26.1
Tenant allowances receivable	20.8		5.2
Prepaid occupancy expense	18.4		8.3
Inventory return asset	13.7		13.3
Derivative financial instruments	9.6		6.0
Cloud computing arrangement implementation costs	7.6		7.2
Prepaid insurance	7.4		4.1
Prepaid logistic services	6.5		6.5
Restricted cash	1.4		2.8
Other prepaid expenses and current assets	32.6		26.4
Total prepaid expenses and other current assets	$	225.9	$	171.9

Other non-current assets consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Security deposits	$	35.0	$	34.2
Derivative financial instruments	32.3		30.6
Cloud computing arrangement implementation costs	15.6		16.0
Equity method and other investments	7.9		7.5
Deferred rent assets	6.2		6.3
Restricted cash	5.3		5.6

Other non-current assets	23.8		25.5
Total other non-current assets	$	126.1	$	125.7

Accrued expenses and other current liabilities consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Accrued operating expenses	$	185.6	$	192.0
Accrued inventory	178.6		122.2
Accrued payroll and benefits	138.7		207.7
Other taxes payable	79.9		60.8
Accrued marketing and advertising	69.9		74.2
Dividends payable	51.5		47.5
Restructuring reserve	28.3		32.3
Accrued capital expenditures	24.1		26.7
Finance lease obligations	19.1		19.2
Deferred income	18.3		17.3

Other accrued expenses and current liabilities	7.5		9.8
Total accrued expenses and other current liabilities	$	801.5	$	809.7

Other non-current liabilities consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Deferred lease incentives and obligations	$	39.2	$	41.0
Asset retirement obligations	34.6		34.8
Accrued benefits and deferred compensation	20.5		20.5
Deferred tax liabilities	9.5		7.0
Derivative financial instruments	0.1		5.2
Other non-current liabilities	3.9		5.1
Total other non-current liabilities	$	107.8	$	113.6

Segment Information (Details 4) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details 4) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Revenues from External Customers [Line Items]
Net revenues	$ 1,512.2	$ 1,496.5
Americas [Member]
Revenues from External Customers [Line Items]
Net revenues	647.8	676.6
Europe Member]
Revenues from External Customers [Line Items]
Net revenues	473.5	442.4
Asia [Member]
Revenues from External Customers [Line Items]
Net revenues	390.9	377.5
U.S. [Member]
Revenues from External Customers [Line Items]
Net revenues	$ 615.5	$ 643.0

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Debt

3 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Debt

Debt consists of the following:


	June 29, 2024		March 30, 2024
	(millions)
$400 million 3.750% Senior Notes(a)	$	399.2	$	399.0

$750 million 2.950% Senior Notes(b)	741.9		741.5


Total long-term debt	$	1,141.1	$	1,140.5

(a)The carrying value of the 3.750% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $0.8 million and $1.0 million as of June 29, 2024 and March 30, 2024, respectively.

(b)The carrying value of the 2.950% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $8.1 million and $8.5 million as of June 29, 2024 and March 30, 2024, respectively.

Senior Notes

In August 2018, the Company completed a registered public debt offering and issued $400 million aggregate principal amount of unsecured senior notes due September 15, 2025, which bear interest at a fixed rate of 3.750%, payable semi-annually (the "3.750% Senior Notes"). The 3.750% Senior Notes were issued at a price equal to 99.521% of their principal amount. The proceeds from this offering were used for general corporate purposes, including repayment of the Company's previously outstanding $300 million principal amount of 2.125% unsecured senior notes that matured September 26, 2018.

In June 2020, the Company completed another registered public debt offering and issued an additional $500 million aggregate principal amount of unsecured senior notes that were due and repaid on June 15, 2022 with cash on hand, which bore interest at a fixed rate of 1.700%, payable semi-annually (the "1.700% Senior Notes"), and $750 million aggregate principal amount of unsecured senior notes due June 15, 2030, which bear interest at a fixed rate of 2.950%, payable semi-annually (the "2.950% Senior Notes"). The 1.700% Senior Notes and 2.950% Senior Notes were issued at prices equal to 99.880% and 98.995% of their principal amounts, respectively. The proceeds from these offerings were used for general corporate purposes, which included the repayment of $475 million previously outstanding under the Company's Global Credit Facility (as defined below) on June 3, 2020 and repayment of its previously outstanding $300 million principal amount of 2.625% unsecured senior notes that matured August 18, 2020.

The Company has the option to redeem the 3.750% Senior Notes and 2.950% Senior Notes (collectively, the "Senior Notes"), in whole or in part, at any time at a price equal to accrued and unpaid interest on the redemption date plus the greater of (i) 100% of the principal amount of the series of Senior Notes to be redeemed or (ii) the sum of the present value of Remaining Scheduled Payments, as defined in the supplemental indentures governing such Senior Notes (together with the indenture governing the Senior Notes, the "Indenture"). The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants.

Commercial Paper

The Company has a commercial paper borrowing program that allows it to issue up to $750 million of unsecured commercial paper notes through private placement using third-party broker-dealers (the "Commercial Paper Program").

Borrowings under the Commercial Paper Program are supported by the Global Credit Facility (as defined below). Accordingly, the Company does not expect combined borrowings outstanding under the Commercial Paper Program and Global Credit Facility to exceed $750 million. Commercial Paper Program borrowings may be used to support the Company's general working capital and corporate needs. Maturities of commercial paper notes vary, but cannot exceed 397 days from the date of issuance. Commercial paper notes issued under the Commercial Paper Program rank equally in seniority with the Company's other forms of unsecured indebtedness. As of both June 29, 2024 and March 30, 2024, there were no borrowings outstanding under the Commercial Paper Program.

Revolving Credit Facilities

Global Credit Facility

In June 2023, the Company terminated its then existing credit facility and entered into a new credit facility that provides for a $750 million senior unsecured revolving line of credit through June 30, 2028 (the "Global Credit Facility") under terms and conditions substantially similar to those of the previous facility. The Global Credit Facility may be used for working capital needs, capital expenditures, certain investments, general corporate purposes, and for funding of acquisitions. The Global Credit Facility may also be used to support the issuance of letters of credit and maintenance of the Commercial Paper Program. Borrowings under the Global Credit Facility may be denominated in U.S. Dollars and certain other currencies, including Euros, Hong Kong Dollars, and Japanese Yen, and are guaranteed by some of the Company's domestic subsidiaries, including all of the Company's significant subsidiaries. In accordance with the terms of the agreement governing the Global Credit Facility, the Company has the ability to expand its borrowing availability under the Global Credit Facility to $1.500 billion, subject to the agreement of one or more new or existing lenders under the facility to increase their commitments. There are no mandatory reductions in borrowing ability throughout the term of the Global Credit Facility. As of both June 29, 2024 and March 30, 2024, there were no borrowings outstanding under the Global Credit Facility. However, the Company was contingently liable for $11.8 million of outstanding letters of credit as of both June 29, 2024 and March 30, 2024.

The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 4.25 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding, including finance lease obligations, plus all operating lease obligations. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) operating lease cost, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs. As of June 29, 2024, no Event of Default (as such term is defined pursuant to the Global Credit Facility) has occurred under the Company's Global Credit Facility.

Pan-Asia Borrowing Facilities

Certain of the Company's subsidiaries in Asia have uncommitted credit facilities with regional branches of JPMorgan Chase in China and South Korea (the "Pan-Asia Credit Facilities"). Additionally, the Company's Japan subsidiary has an uncommitted overdraft facility with Sumitomo Mitsui Banking Corporation (the "Japan Overdraft Facility"). The Pan-Asia Credit Facilities and Japan Overdraft Facility (collectively, the "Pan-Asia Borrowing Facilities") are subject to annual renewal and may be used to fund general working capital needs of the Company's operations in the respective countries. Borrowings under the Pan-Asia Borrowing Facilities are guaranteed by the parent company and are granted at the sole discretion of the respective banks, subject to availability of the banks' funds and satisfaction of certain regulatory requirements. The Pan-Asia Borrowing Facilities do not contain any financial covenants.

A summary of the Company's Pan-Asia Borrowing Facilities by country is as follows:

•China Credit Facility — provides Ralph Lauren Trading (Shanghai) Co., Ltd. with a revolving line of credit of up to 100 million Chinese Renminbi (approximately $14 million) through April 3, 2025, which is also able to be used to support bank guarantees.

•South Korea Credit Facility — provides Ralph Lauren (Korea) Ltd. with a revolving line of credit of up to 30 billion South Korean Won (approximately $21 million) through October 25, 2024.

•Japan Overdraft Facility — provides Ralph Lauren Corporation Japan with an overdraft amount of up to 5 billion Japanese Yen (approximately $31 million) through April 30, 2025.

As of both June 29, 2024 and March 30, 2024, there were no borrowings outstanding under the Pan-Asia Borrowing Facilities.

Refer to Note 11 of the Fiscal 2024 10-K for additional discussion of the terms and conditions of the Company's debt and credit facilities.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies

3 Months Ended

Jun. 29, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Revenue Recognition

The Company recognizes revenue across all channels of the business when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services, and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales and other related taxes collected from customers and remitted to government authorities are excluded from revenue.

Revenue from the Company's retail business is recognized when the customer takes physical possession of the products, which occurs either at the point of sale for merchandise purchased at the Company's own retail stores and shop-within-shop locations, or upon receipt of shipment for merchandise ordered through direct-to-consumer digital commerce sites. Such revenues are recorded net of estimated returns based on historical trends. Payment is due at the point of sale.

Gift cards purchased by customers are recorded as a liability until they are redeemed for products sold by the Company's retail business, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed (referred to as "breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions.

Revenue from the Company's wholesale business is generally recognized upon shipment of products, at which point title passes and risk of loss is transferred to the customer. In certain arrangements where the Company retains the risk of loss during shipment, revenue is recognized upon receipt of products by the customer. Wholesale revenue is recorded net of estimates of returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances. Returns and allowances require pre-approval from management and discounts are based on trade terms. Estimates for end-of-season markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Estimates for operational chargebacks are based on actual customer notifications of order fulfillment discrepancies and historical trends. The Company reviews and refines these estimates on at least a quarterly basis. The Company's historical estimates of these amounts have not differed materially from actual results.

Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks (i.e., symbolic intellectual property) and benefit from such access through their own sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements, may be subject to a contractually-guaranteed minimum royalty amount. Payments are generally due quarterly and, depending on time of receipt, may be recorded as a liability until recognized as revenue. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually-guaranteed minimum royalty amount) as licensed products are sold by the licensee. If a sales-based royalty is not ultimately expected to exceed a contractually-guaranteed minimum royalty amount, the minimum is generally recognized as revenue ratably over the respective contractual period. This sales-based output measure of progress and pattern of recognition best represents the value transferred to the licensee over the term of the arrangement, as well as the amount of consideration that the Company is entitled to receive in exchange for providing access to its trademarks. As of June 29, 2024, contractually-guaranteed minimum royalty amounts expected to be recognized as revenue during future periods were as follows:


	Contractually-Guaranteed Minimum Royalties(a)
	(millions)
Remainder of Fiscal 2025	$	61.6
Fiscal 2026	66.5
Fiscal 2027	64.9
Fiscal 2028	30.0
Fiscal 2029 and thereafter	14.1
Total	$	237.1

(a)Amounts presented do not contemplate potential contract renewals or royalties earned in excess of the contractually-guaranteed minimums.

Disaggregated Net Revenues


	Three Months Ended
	June 29, 2024										July 1, 2023
	North America		Europe		Asia		Other		Total		North America		Europe		Asia		Other		Total
	(millions)
Sales Channel(a):
Retail	$	416.7	$	245.1	$	370.8	$	—	$	1,032.6	$	411.0	$	226.7	$	352.1	$	—	$	989.8
Wholesale	191.5		234.0		20.1		—		445.6		220.7		223.8		25.4		—		469.9
Licensing	—		—		—		34.0		34.0		—		—		—		36.8		36.8
Total	$	608.2	$	479.1	$	390.9	$	34.0	$	1,512.2	$	631.7	$	450.5	$	377.5	$	36.8	$	1,496.5

(a)Net revenues from the Company's retail and wholesale businesses are recognized at a point in time. Net revenues from the Company's licensing business are recognized over time.

Deferred Income

Deferred income represents cash payments received in advance of the Company's transfer of control of products or services to its customers and generally consists of unredeemed gift cards (net of breakage) and advance royalty payments from its licensees. The Company's deferred income balances were $18.4 million and $17.4 million as of June 29, 2024 and March 30, 2024, respectively, and were primarily recorded within accrued expenses and other current liabilities within the consolidated balance sheets. The majority of the deferred income balance as of June 29, 2024 is expected to be recognized as revenue within the next twelve months.

Shipping and Handling Costs

Costs associated with shipping goods to customers are accounted for as fulfillment activities and reflected as selling, general, and administrative ("SG&A") expenses in the consolidated statements of operations. Costs of preparing merchandise for sale, such as picking, packing, warehousing, and order charges ("handling costs"), are also included in SG&A expenses. Shipping and handling costs billed to customers are included in revenue.

A summary of shipping and handling costs for the fiscal periods presented is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Shipping costs		$	17.3	$	16.9
Handling costs		35.1		39.2

Net Income per Common Share

Basic net income per common share is computed by dividing net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Weighted-average common shares include shares of the Company's Class A and Class B common stock. Diluted net income per common share adjusts basic net income per common share for the dilutive effects of outstanding restricted stock units ("RSUs") and any other potentially dilutive instruments and stock-based compensation awards using the treasury stock method, only for periods in which such effects are dilutive.

The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows:


	Three Months Ended
		June 29, 2024	July 1, 2023
		(millions)
Basic shares		63.2	65.9
Dilutive effect of RSUs		1.4	1.5
Diluted shares		64.6	67.4

All earnings per share amounts have been calculated using unrounded numbers. The Company has outstanding performance-based RSUs, which are included in the computation of diluted shares only to the extent that the underlying performance conditions (i) have been satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive. As of June 29, 2024 and July 1, 2023, there were 0.3 million and 0.1 million, respectively, of additional shares issuable contingent upon vesting of performance-based RSUs that were excluded from the diluted shares calculations.

Accounts Receivable

In the normal course of business, the Company extends credit to wholesale customers that satisfy certain defined credit criteria. Payment is generally due within 30 to 120 days and does not involve a significant financing component. Accounts receivable are recorded at amortized cost, which approximates fair value, and are presented in the consolidated balance sheets net of certain reserves and allowances. These reserves and allowances consist of (i) reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances (see the "Revenue Recognition" section above for further discussion of related accounting policies) and (ii) allowances for doubtful accounts.


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Beginning reserve balance		$	143.1	$	148.1
Amount charged against revenue to increase reserve		94.8		95.6
Amount credited against customer accounts to decrease reserve		(110.6)		(107.5)
Foreign currency translation		(1.0)		(1.0)
Ending reserve balance		$	126.3	$	135.2

An allowance for doubtful accounts is determined through analysis of accounts receivable aging, assessments of collectability based on evaluation of historical trends, the financial condition of the Company's customers and their ability to withstand prolonged periods of adverse economic conditions, and evaluation of the impact of current and forecasted economic and market conditions over the related asset's contractual life, among other factors.

A rollforward of the activity in the Company's allowance for doubtful accounts is presented as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Beginning reserve balance		$	32.2	$	27.2
Amount recorded to expense to increase (decrease) reserve(a)		0.8		(0.8)
Amount written-off against customer accounts to decrease reserve		(0.4)		(0.6)
Foreign currency translation		(0.1)		(0.2)
Ending reserve balance		$	32.5	$	25.6

(a)Amounts recorded to bad debt expense are included within SG&A expenses in the consolidated statements of operations.

Concentration of Credit Risk

The Company sells its wholesale merchandise primarily to major department stores, specialty stores, and third-party digital partners around the world, and extends credit based on an evaluation of each customer's financial capacity and condition, usually without requiring collateral. In the Company's wholesale business, concentration of credit risk is relatively limited due to the large number of customers and their dispersion across many geographic areas. However, the Company has three key wholesale customers that generate significant sales volume. During Fiscal 2024, the Company's sales to its three largest wholesale customers accounted for approximately 13% of total net revenues. Substantially all of the Company's sales to its three largest wholesale customers related to its North America segment. As of June 29, 2024, these three key wholesale customers accounted for approximately 22% of total gross accounts receivable.

Inventories

The Company holds inventory that is sold in its retail stores and digital commerce sites directly to consumers. The Company also holds inventory that is to be sold through wholesale distribution channels to major department stores, specialty stores, and third-party digital partners. Substantially all of the Company's inventories consist of finished goods, which are stated at the lower of cost or estimated realizable value, with cost determined on a weighted-average cost basis. Inventory held by the Company totaled $1.039 billion, $902.2 million, and $1.188 billion as of June 29, 2024, March 30, 2024, and July 1, 2023, respectively.

Supplier Finance Program

The Company supports a voluntary supplier finance program which provides certain of its inventory suppliers the opportunity, at their sole discretion, to sell their receivables due from the Company (which are generally due within 90 days) to a participating financial institution in exchange for receipt of a discounted payment amount made earlier than the payment term stipulated between the Company and the supplier. The Company's vendor payment terms and amounts due are not impacted by a supplier's decision to participate in the program. The Company has not pledged any assets and does not provide guarantees under the supplier finance program. The Company's payment obligations outstanding under its supplier finance program were $210.7 million and $129.2 million as of June 29, 2024 and March 30, 2024, respectively, and were recorded within accounts payable in the consolidated balance sheets.

Derivative Financial Instruments

The Company records derivative financial instruments on its consolidated balance sheets at fair value. Changes in the fair value of derivative instruments that are designated and qualify for hedge accounting are either (i) offset through earnings against the changes in fair value of the related hedged assets, liabilities, or firm commitments or (ii) recognized in equity as a component of accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the instrument is hedging against changes in fair value or cash flows and net investments, respectively.

Each derivative instrument that qualifies for hedge accounting is expected to be highly effective in offsetting the risk associated with the related exposure. For each instrument that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item, and the risk exposure, as well as how hedge effectiveness will be assessed over the instrument's term. To assess hedge effectiveness at the inception of a hedging relationship, the Company generally uses regression analysis, a statistical method, to evaluate how changes in the fair value of the derivative instrument are expected to offset changes in the fair value or cash flows of the related hedged item. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed by the Company on at least a quarterly basis.

Given its use of derivative instruments, the Company is exposed to the risk that counterparties to such contracts will fail to meet their contractual obligations. To mitigate such counterparty credit risk, the Company's policy is to only enter into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings and certain other factors, adhering to established limits for credit exposure. The Company's established policies and procedures for mitigating credit risk include ongoing review and assessment of its counterparties' creditworthiness. The Company also enters into master netting arrangements with counterparties, when possible, to further mitigate credit risk. In the event of default or termination, these arrangements allow the Company to net-settle amounts payable and receivable related to multiple derivative transactions with the same counterparty. The master netting arrangements specify a number of events of default and termination, including the failure to make timely payments.

The fair values of the Company's derivative instruments are recorded on its consolidated balance sheets on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities for its forward foreign exchange contracts and within cash flows from investing activities for its cross-currency swap contracts, both as discussed below.

Cash Flow Hedges

The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency. To the extent designated as cash flow hedges, related gains or losses on such instruments are initially deferred in equity as a component of AOCI and are subsequently recognized within cost of goods sold in the consolidated statements of operations when the related inventory is sold.

If a derivative instrument is dedesignated or if hedge accounting is discontinued because the instrument is not expected to be highly effective in hedging the designated exposure, any further gains (losses) are recognized in earnings each period within other income (expense), net. Upon discontinuance of hedge accounting, the cumulative change in fair value of the derivative instrument recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the hedging strategy, unless the related forecasted transaction is probable of not occurring, in which case the accumulated amount is immediately recognized within other income (expense), net.

Hedges of Net Investments in Foreign Operations

The Company periodically uses cross-currency swap contracts to reduce risk associated with exchange rate fluctuations on certain of its net investments in foreign subsidiaries. Changes in the fair values of such derivative instruments that are designated as hedges of net investments in foreign operations are recorded in equity as a component of AOCI in the same manner as foreign currency translation adjustments. In assessing the effectiveness of such hedges, the Company uses a method based on changes in spot rates to measure the impact of foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related hedging instrument. Under this method, changes in the fair value of the hedging instrument other than those due to changes in the spot rate are initially recorded in AOCI as a translation adjustment and are amortized into earnings as interest expense using a systematic and rational method over the instrument's term. Changes in fair value associated with the effective portion (i.e., those due to changes in the spot rate) are recorded in AOCI as a translation adjustment and are released and recognized in earnings only upon the sale or liquidation of the hedged net investment.

Undesignated Hedges

The Company uses undesignated hedges primarily to hedge foreign currency exchange rate risk related to third-party and intercompany balances and exposures. Changes in the fair values of such instruments are recognized in earnings each period within other income (expense), net.

See Note 11 for further discussion of the Company's derivative financial instruments.

Refer to Note 3 of the Fiscal 2024 10-K for a summary of all of the Company's significant accounting policies.

Segment Information

3 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Segment Information

The Company has three reportable segments based on its business activities and organization:

•North America — The North America segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses primarily in the U.S. and Canada. In North America, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, and its digital commerce sites, www.RalphLauren.com and www.RalphLauren.ca. The Company's wholesale business in North America is comprised primarily of sales to department stores and, to a lesser extent, specialty stores.

•Europe — The Europe segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Europe and emerging markets. In Europe, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. The Company's wholesale business in Europe is comprised primarily of a varying mix of sales to both department stores and specialty stores, depending on the country, as well as to various third-party digital and licensee partners.

•Asia — The Asia segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Asia, Australia, and New Zealand. The Company's retail business in Asia is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. In addition, the Company sells its products online through various third-party digital partner commerce sites. The Company's wholesale business in Asia is comprised primarily of sales to department stores and various third-party digital and licensee partners.

No operating segments were aggregated to form the Company's reportable segments. In addition to these reportable segments, the Company also has other non-reportable segments, which primarily consist of Ralph Lauren and Chaps branded royalty revenues earned through its global licensing alliances.

The Company's segment reporting structure is consistent with how it establishes its overall business strategy, allocates resources, and assesses performance of its business. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3 of the Fiscal 2024 10-K. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Each segment's performance is evaluated based upon net revenues and operating income before restructuring-related charges, impairment of assets, and certain other one-time items, if any. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate marketing and advertising expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects.

Net revenues for each of the Company's segments are as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net revenues:
North America		$	608.2	$	631.7
Europe		479.1		450.5
Asia		390.9		377.5
Other non-reportable segments		34.0		36.8
Total net revenues		$	1,512.2	$	1,496.5

Operating income for each of the Company's segments is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Operating income:
North America		$	119.8	$	125.3
Europe		120.6		97.2
Asia		107.2		93.3
Other non-reportable segments		29.6		33.8
		377.2		349.6
Unallocated corporate expenses		(161.3)		(147.6)
Unallocated restructuring and other charges, net(a)		(7.4)		(35.6)
Total operating income		$	208.5	$	166.4

(a)The three-month periods ended June 29, 2024 and July 1, 2023 included certain unallocated restructuring and other charges, net (see Note 7), which are detailed below:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Unallocated restructuring and other charges, net:
North America-related		$	0.4	$	(3.9)
Europe-related		(0.9)		(1.4)
Asia-related		(0.6)		(1.4)
Other non-reportable segment-related		(0.1)		—
Corporate operations-related		(1.1)		(23.8)
Unallocated restructuring charges		(2.3)		(30.5)
Other charges (see Note 7)		(5.1)		(5.1)
Total unallocated restructuring and other charges, net		$	(7.4)	$	(35.6)

Depreciation and amortization expense for the Company's segments is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Depreciation and amortization expense:
North America		$	20.6	$	20.3
Europe		8.4		8.8
Asia		12.5		13.3

Unallocated corporate		12.9		15.9

Total depreciation and amortization expense		$	54.4	$	58.3

Net revenues by geographic location of the reporting subsidiary are as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net revenues(a):
The Americas(b)		$	647.8	$	676.6
Europe(c)		473.5		442.4
Asia(d)		390.9		377.5
Total net revenues		$	1,512.2	$	1,496.5

(a)Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license.

(b)Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. during the three-month periods ended June 29, 2024 and July 1, 2023 were $615.5 million and $643.0 million, respectively.

(c)Includes the Middle East.

(d)Includes Australia and New Zealand.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Fair Value Measurements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Long-Lived Assets	$ 0.0	$ 0.0

Description of Business (Details)	3 Months Ended
Description of Business (Details)	Jun. 29, 2024 Segment
Description of Business [Abstract]
Number of reportable segments	3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions

3 Months Ended

Jun. 29, 2024

Jul. 01, 2023

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]

Beginning balance

$ (276.1)

OCI before reclassifications

(21.1)

$ (32.4)

Amounts reclassified from AOCI to earnings

(0.9)

(4.4)

Other comprehensive income (loss), net of tax

(22.0)

(36.8)

Ending balance

(298.1)

Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax

2.6

(0.9)

Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax

5.3

(9.7)

Gain (Loss) on Derivative Used in Net Investment Hedge, Tax

1.6

(3.1)

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax

0.9

0.8

Foreign Currency Translation Gains (Losses) [Member]

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]

Beginning balance

(280.0)

(203.8)

OCI before reclassifications

(25.4)

(37.5)

Amounts reclassified from AOCI to earnings

0.0

Other comprehensive income (loss), net of tax

(25.4)

(37.5)

Ending balance

(305.4)

(241.3)

Net Unrealized Gains (Losses) on Cash Flow Hedges [Member]

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]

Beginning balance

7.2

4.1

OCI before reclassifications

5.3

5.1

Amounts reclassified from AOCI to earnings

(1.9)

(4.3)

Other comprehensive income (loss), net of tax

3.4

0.8

Ending balance

10.6

4.9

Net Unrealized Gains (Losses) on Defined Benefit Plans [Member]

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]

Beginning balance

(3.3)

3.7

OCI before reclassifications

(1.0)

0.0

Amounts reclassified from AOCI to earnings

1.0

(0.1)

Other comprehensive income (loss), net of tax

0.0

(0.1)

Ending balance

(3.3)

3.6

AOCI [Member]

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]

Beginning balance

(276.1)

(196.0)

Other comprehensive income (loss), net of tax

^[1]

(22.0)

(36.8)

Ending balance

$ (298.1)

$ (232.8)

[1]	Accumulated other comprehensive income (loss).

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 168.6	$ 132.1
Other Comprehensive Loss, Net of Tax [Abstract]
Foreign currency translation losses	(25.4)	(37.5)
Net gains on cash flow hedges	3.4	0.8
Net losses on defined benefit plans	0.0	(0.1)
Other comprehensive loss, net of tax	(22.0)	(36.8)
Total comprehensive income	$ 146.6	$ 95.3

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Fair Value Measurements (Tables)

3 Months Ended

Jun. 29, 2024

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities measured and recorded at fair value on recurring basis

The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components:


	June 29, 2024		March 30, 2024
	(millions)
Derivative assets(a)	$	41.9	$	36.6
Derivative liabilities(a)	0.2		5.5

(a)Based on Level 2 measurements.

Carrying value and the estimated fair value of the Company's debt obligations

The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments:


	June 29, 2024				March 30, 2024
	Carrying Value(a)		Fair Value(b)		Carrying Value(a)		Fair Value(b)
	(millions)
$400 million 3.750% Senior Notes	$	399.2	$	392.0	$	399.0	$	391.4

$750 million 2.950% Senior Notes	741.9		668.7		741.5		671.4

(a)See Note 9 for discussion of the carrying values of the Company's senior notes.

(b)Based on Level 2 measurements.

Summary of Significant Accounting Policies (Details) $ in Millions	Jun. 29, 2024 USD ($)
Accounting Policies [Abstract]
Contractually-Guaranteed Minimum Royalties - Remainder of Fiscal 2025	$ 61.6
Contractually-Guaranteed Minimum Royalties - Fiscal 2026	66.5
Contractually-Guaranteed Minimum Royalties - Fiscal 2027	64.9
Contractually-Guaranteed Minimum Royalties - Fiscal 2028	30.0
Contractually-Guaranteed Minimum Royalties - Fiscal 2029 and Thereafter	14.1
Contractually-Guaranteed Minimum Royalties - Total	$ 237.1

Restructuring and Other Charges (Details Textual) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024
Restructuring Cost and Reserve [Line Items]
Other Charges	$ 5.1	$ 5.1
Charges primarily related to rent and occupancy costs associated with previously exited real estate locations [Member]
Restructuring Cost and Reserve [Line Items]
Other Charges	2.8	5.1
Next Generation Transformation project
Restructuring Cost and Reserve [Line Items]
Other Charges	2.3
Fiscal 2024 Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	23.9		$ 30.2
Payments for Restructuring	(6.3)
Cash-related restructuring charges		$ 30.5	54.5
Restructuring and non-cash charges			55.8
Non-cash charges			1.3
Fiscal 2021 Strategic Realignment Plan
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	3.5		$ 4.2
Payments for Restructuring	(0.7)
Fiscal 2021 Strategic Realignment Plan \| Other cash charges
Restructuring Cost and Reserve [Line Items]
Restructuring Income	(1.0)
Fiscal 2025 Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2.0
Payments for Restructuring	(1.3)
Cash-related restructuring charges	$ 3.3

Segment Information (Details 3) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details 3) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 54.4	$ 58.3
North America segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	20.6	20.3
Europe segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	8.4	8.8
Asia segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	12.5	13.3
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 12.9	$ 15.9

Description of Business	3 Months Ended
Description of Business	Jun. 29, 2024
Description of Business [Abstract]
Description of Business	Description of Business Ralph Lauren Corporation ("RLC") is a global leader in the design, marketing, and distribution of luxury lifestyle products, including apparel, footwear & accessories, home, fragrances, and hospitality. RLC's long-standing reputation and distinctive image have been developed across a wide range of products, brands, distribution channels, and international markets. RLC's brand names include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Double RL, Polo Ralph Lauren, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps, among others. RLC and its subsidiaries are collectively referred to herein as the "Company," "we," "us," "our," and "ourselves," unless the context indicates otherwise. The Company diversifies its business by geography (North America, Europe, and Asia, among other regions) and channel of distribution (retail, wholesale, and licensing). This allows the Company to maintain a dynamic balance as its operating results do not depend solely on the performance of any single geographic area or channel of distribution. The Company sells directly to consumers through its integrated retail channel, which includes its retail stores, concession-based shop-within-shops, and digital commerce operations around the world. The Company's wholesale sales are made principally to major department stores, specialty stores, and third-party digital partners around the world, as well as to certain third-party-owned stores to which the Company has licensed the right to operate in defined geographic territories using its trademarks. In addition, the Company licenses to third parties for specified periods the right to access its various trademarks in connection with the licensees' manufacture and sale of designated products, such as certain apparel, eyewear, fragrances, and home furnishings. The Company organizes its business into the following three reportable segments: North America, Europe, and Asia. In addition to these reportable segments, the Company also has other non-reportable segments. See Note 16 for further discussion of the Company's segment reporting structure.

Fair Value Measurements (Details 1) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
3.750% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value, Noncurrent	$ 399.2	$ 399.0
2.950% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value, Noncurrent	741.9	741.5
Fair Value, Inputs, Level 2 [Member] \| 3.750% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	392.0	391.4
Fair Value, Inputs, Level 2 [Member] \| 2.950% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	$ 668.7	$ 671.4

Financial Instruments

3 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Derivative Financial Instruments

The Company is exposed to changes in foreign currency exchange rates, primarily relating to certain anticipated cash flows and the value of the reported net assets of its international operations, as well as changes in the fair value of its fixed-rate debt obligations attributed to changes in benchmark interest rates. Accordingly, based on its assessment thereof, the Company may use derivative financial instruments to manage and mitigate such risks. The Company does not use derivatives for speculative or trading purposes.

The following table summarizes the Company's outstanding derivative instruments recorded on its consolidated balance sheets as of June 29, 2024 and March 30, 2024:


	Notional Amounts				Derivative Assets						Derivative Liabilities
Derivative Instrument(a)	June 29, 2024		March 30, 2024		June 29, 2024			March 30, 2024			June 29, 2024			March 30, 2024
					Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	331.6	$	319.4	PP	$	8.3	PP	$	4.8		$	—	AE	$	0.2

Net investment hedges(c)	700.0		700.0		ONCA	32.3		ONCA	30.6		ONCL	0.1		ONCL	5.2
Total Designated Hedges	1,031.6		1,019.4			40.6			35.4			0.1			5.4
Undesignated Hedges:
FC — Undesignated hedges(d)	176.1		153.2		PP	1.3		PP	1.2		AE	0.1		AE	0.1
Total Hedges	$	1,207.7	$	1,172.6		$	41.9		$	36.6		$	0.2		$	5.5

(a)FC = Forward foreign currency exchange contracts.

(b)PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities.

(c)Includes cross-currency swaps designated as hedges of the Company's net investment in certain foreign operations.

(d)Relates to third-party and intercompany foreign currency-denominated exposures and balances.

The Company presents the fair values of its derivative assets and liabilities recorded on its consolidated balance sheets on a gross basis, even when they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its derivative instruments on a net basis in accordance with the terms of each of its master netting arrangements, spread across eight separate counterparties, the amounts presented in the consolidated balance sheets as of June 29, 2024 and March 30, 2024 would be adjusted from the current gross presentation as detailed in the following table:


	June 29, 2024						March 30, 2024
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements		Net Amount		Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements		Net Amount
	(millions)
Derivative assets	$	41.9	$	(0.1)	$	41.8	$	36.6	$	(0.2)	$	36.4
Derivative liabilities	0.2		(0.1)		0.1		5.5		(0.2)		5.3

The Company's master netting arrangements do not require cash collateral to be pledged by the Company or its counterparties. See Note 3 for further discussion of the Company's master netting arrangements.

The following tables summarize the pretax impact of gains and losses from the Company's designated derivative instruments on its consolidated financial statements for the three-month periods ended June 29, 2024 and July 1, 2023:


		Gains (Losses) Recognized in OCI
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Designated Hedges:
FC — Cash flow hedges		$	6.2	$	5.9
Net investment hedges — effective portion		4.9		(3.0)
Net investment hedges — portion excluded from assessment of hedge effectiveness		2.0		(9.8)
Total Designated Hedges		$	13.1	$	(6.9)

Location and Amount of
Gains (Losses) from
Cash Flow Hedges Reclassified from AOCI to Earnings

Three Months Ended

June 29,
2024

July 1,
2023

Cost of
goods sold

(millions)

Total amounts presented in the consolidated statements of operations in which the effects of related cash flow hedges are recorded

(446.4)

(464.5)

Effects of cash flow hedging:

FC — Cash flow hedges

2.2

4.9


		Gains (Losses) from Net Investment Hedges Recognized in Earnings				Location of Gains (Losses) Recognized in Earnings
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net Investment Hedges:
Net investment hedges — portion excluded from assessment of hedge effectiveness(a)		$	3.1	$	3.1	Interest expense
Total Net Investment Hedges		$	3.1	$	3.1

(a)Amounts recognized in other comprehensive income (loss) ("OCI") relating to the effective portion of the Company's net investment hedges would be recognized in earnings only upon the sale or liquidation of the hedged net investment.

As of June 29, 2024, it is estimated that $11.9 million of pretax net gains on both outstanding and matured derivative instruments designated and qualifying as cash flow hedges deferred in AOCI will be recognized in earnings over the next twelve months. Amounts ultimately recognized in earnings will depend on exchange rates in effect when outstanding derivative instruments are settled.

The following table summarizes the pretax impact of gains and losses from the Company's undesignated derivative instruments on its consolidated financial statements for the three-month periods ended June 29, 2024 and July 1, 2023:


		Gains (Losses) Recognized in Earnings				Location of Gains (Losses) Recognized in Earnings
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Undesignated Hedges:
FC — Undesignated hedges		$	3.1	$	3.5	Other income (expense), net
Total Undesignated Hedges		$	3.1	$	3.5

Risk Management Strategies

Forward Foreign Currency Exchange Contracts

The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency, the settlement of foreign currency-denominated balances, and the translation of certain foreign operations' net assets into U.S. Dollars. As part of its overall strategy for managing the level of exposure to such exchange rate risk, relating primarily to the Euro, the Japanese Yen, the South Korean Won, the Australian Dollar, the Canadian Dollar, the British Pound Sterling, the Swiss Franc, and the Chinese Renminbi, the Company generally hedges a portion of its related exposures anticipated over the next twelve months using forward foreign currency exchange contracts with maturities of two months to one year to provide continuing coverage over the period of the respective exposure.

Cross-Currency Swap Contracts

The Company periodically designates pay-fixed rate, receive fixed-rate cross-currency swap contracts as hedges of its net investment in certain of its European subsidiaries. These contracts swap U.S. Dollar-denominated fixed interest rate payments based on the contract's notional amount and the fixed rate of interest payable on certain of the Company's senior notes for Euro-denominated fixed interest rate payments, thereby economically converting a portion of its fixed-rate U.S. Dollar-denominated senior note obligations to fixed-rate Euro-denominated obligations.

See Note 3 for further discussion of the Company's accounting policies relating to its derivative financial instruments.

Investments

The Company's short-term investments as of June 29, 2024 and March 30, 2024 were $173.6 million and $121.0 million, respectively, and consisted of time deposits.

No significant realized or unrealized gains or losses on available-for-sale investments or impairment charges were recorded during any of the fiscal periods presented.

Refer to Note 3 of the Fiscal 2024 10-K for further discussion of the Company's accounting policies relating to its investments.

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net revenues	$ 1,512.2	$ 1,496.5
Cost of goods sold	(446.4)	(464.5)
Gross profit	1,065.8	1,032.0
Other costs and expenses
Selling, general, and administrative expenses	(849.9)	(830.0)
Restructuring and other charges, net	(7.4)	(35.6)
Total other operating expenses, net	(857.3)	(865.6)
Operating income	208.5	166.4
Interest expense	(10.9)	(10.0)
Interest income	20.1	15.7
Other expense, net	(1.1)	(1.5)
Income before income taxes	216.6	170.6
Income tax provision	(48.0)	(38.5)
Net income	$ 168.6	$ 132.1
Net income per common share:
Basic	$ 2.67	$ 2.01
Diluted	$ 2.61	$ 1.96
Weighted average common shares outstanding:
Basic	63.2	65.9
Diluted	64.6	67.4
Dividends declared per share	$ 0.825	$ 0.75

Accumulated Other Comrehensive Income (Loss) (Tables)

3 Months Ended

Jun. 29, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents OCI activity, net of tax, accumulated in equity:


	Foreign Currency Translation Gains (Losses)(a)		Net Unrealized Gains (Losses) on Cash Flow Hedges(b)		Net Unrealized Gains (Losses) on Defined Benefit Plans(c)		Total Accumulated Other Comprehensive Income (Loss)
	(millions)
Balance at March 30, 2024	$	(280.0)	$	7.2	$	(3.3)	$	(276.1)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(25.4)		5.3		(1.0)		(21.1)
Amounts reclassified from AOCI to earnings	—		(1.9)		1.0		(0.9)
Other comprehensive income (loss), net of tax	(25.4)		3.4		—		(22.0)
Balance at June 29, 2024	$	(305.4)	$	10.6	$	(3.3)	$	(298.1)

Balance at April 1, 2023	$	(203.8)	$	4.1	$	3.7	$	(196.0)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(37.5)		5.1		—		(32.4)
Amounts reclassified from AOCI to earnings	—		(4.3)		(0.1)		(4.4)
Other comprehensive income (loss), net of tax	(37.5)		0.8		(0.1)		(36.8)
Balance at July 1, 2023	$	(241.3)	$	4.9	$	3.6	$	(232.8)

(a)OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes income tax provision of $2.6 million and income tax benefit of $0.9 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively. OCI before reclassifications to earnings for the three-month periods ended June 29, 2024 and July 1, 2023 includes gains of $5.3 million (net of a $1.6 million income tax provision) and losses of $9.7 million (net of a $3.1 million income tax benefit), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 11).

(b)OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of income tax provisions of $0.9 million and $0.8 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.

(c)Activity is presented net of taxes, which were immaterial for both periods presented.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:


	Three Months Ended			Location of Gains (Losses) Reclassified from AOCI to Earnings
		June 29, 2024				July 1, 2023
		(millions)
Gains (losses) on cash flow hedges(a):
FC — Cash flow hedges		$	2.2	$	4.9		Cost of goods sold

Tax effect		(0.3)		(0.6)			Income tax provision
Net of tax		$	1.9	$	4.3

(a)FC = Forward foreign currency exchange contracts.

Restructuring and Other Charges	3 Months Ended
Restructuring and Other Charges	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges, Net A description of significant restructuring and other activities and their related costs is provided below. Fiscal 2025 Restructuring Activities During the three months ended June 29, 2024, the Company recorded $3.3 million of cash-related restructuring charges, primarily associated with severance and benefit costs. As of June 29, 2024, the remaining liability related to these charges was $2.0 million, reflecting cash payments of $1.3 million made during the three months ended June 29, 2024. Fiscal 2024 Restructuring Activities During the three months ended July 1, 2023, the Company recorded $30.5 million of cash-related restructuring charges, primarily associated with severance and benefit costs. During Fiscal 2024, the Company recorded cumulative restructuring-related charges of $55.8 million, comprised of cash-related charges of $54.5 million, primarily associated with severance and benefit costs, and non-cash-related charges of $1.3 million. As of June 29, 2024 and March 30, 2024, the remaining liability related to these cash-related charges was $23.9 million and $30.2 million, respectively, reflecting cash payments of $6.3 million made during the three months ended June 29, 2024. Other Restructuring Activities During the three months ended June 29, 2024, the Company recognized $1.0 million of income within restructuring and other charges, net in the consolidated statements of operations related to consideration received from Regent, L.P. in connection with the Company's previously sold Club Monaco business. Refer to Note 9 of the Fiscal 2024 10-K for additional discussion regarding the Company's sale of its former Club Monaco business. As of June 29, 2024 and March 30, 2024, the remaining liability related to the Company's restructuring plans initiated prior to its Fiscal 2024 was $3.5 million and $4.2 million, respectively, reflecting cash payments of $0.7 million made during the three months ended June 29, 2024. Other Charges Next Generation Transformation Project The Company is in the early stages of executing a large-scale, multi-year global project that is expected to significantly transform the way in which the Company operates its business and further enable its long-term strategic pivot towards a global direct-to-consumer-oriented model (the "Next Generation Transformation project" or "NGT project"). The NGT project will be completed in phases and involves the redesigning of certain end-to-end processes and the implementation of a suite of information systems on a global scale. Such efforts are expected to result in significant process improvements and the creation of synergies across core areas of operations, including merchandise buying and planning, procurement, inventory management, retail and wholesale operations, and financial planning and reporting, better enabling the Company to optimize inventory levels and increase the speed with which it reacts to changes in consumer demand across markets, among other benefits. In connection with the preliminary phase of the NGT project, the Company recorded other charges of $2.3 million during the three months ended June 29, 2024. Previously Exited Real Estate The Company recorded other charges of $2.8 million and $5.1 million during the three-month periods ended June 29, 2024 and July 1, 2023, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations in connection with the Company's past restructuring activities for which the related lease agreements have not yet expired.

Fair Value Measurements

3 Months Ended

Jun. 29, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

U.S. GAAP prescribes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

•Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

•Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.

•Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components:


	June 29, 2024		March 30, 2024
	(millions)
Derivative assets(a)	$	41.9	$	36.6
Derivative liabilities(a)	0.2		5.5

(a)Based on Level 2 measurements.

The Company's derivative financial instruments are recorded at fair value in its consolidated balance sheets and are valued using pricing models that are primarily based on market observable external inputs, including spot and forward currency exchange rates, benchmark interest rates, and discount rates consistent with the instrument's tenor, and consider the impact of the Company's own credit risk, if any. Changes in counterparty credit risk are also considered in the valuation of derivative financial instruments.

To the extent the Company invests in commercial paper, such investments are classified as available-for-sale and recorded at fair value in its consolidated balance sheets using external pricing data, based on interest rates and credit ratings for similar issuances with the same remaining term as the Company's investments. To the extent the Company invests in bonds, such investments are also classified as available-for-sale and recorded at fair value in its consolidated balance sheets based on quoted prices in active markets.

The Company's cash and cash equivalents, restricted cash, and time deposits are recorded at carrying value, which generally approximates fair value based on Level 1 measurements.

The Company's debt instruments are recorded at their amortized cost in its consolidated balance sheets, which may differ from their respective fair values. The fair values of the Company's senior notes are estimated based on external pricing data, including available quoted market prices, and with reference to comparable debt instruments with similar interest rates, credit ratings, and trading frequency, among other factors. The fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities, if any, are estimated using external pricing data, based on interest rates and credit ratings for similar issuances with the same remaining term as the Company's outstanding borrowings. Due to their short-term nature, the fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities, if any, generally approximate their amortized cost carrying values.

The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments:


	June 29, 2024				March 30, 2024
	Carrying Value(a)		Fair Value(b)		Carrying Value(a)		Fair Value(b)
	(millions)
$400 million 3.750% Senior Notes	$	399.2	$	392.0	$	399.0	$	391.4

$750 million 2.950% Senior Notes	741.9		668.7		741.5		671.4

(a)See Note 9 for discussion of the carrying values of the Company's senior notes.

(b)Based on Level 2 measurements.

Unrealized gains or losses resulting from changes in the fair value of the Company's debt instruments do not result in the realization or expenditure of cash unless the debt is retired prior to its maturity.

Non-financial Assets and Liabilities

The Company's non-financial assets, which primarily consist of goodwill, other intangible assets, property and equipment, and lease-related ROU assets, are not required to be measured at fair value on a recurring basis, and instead are reported at their amortized or depreciated cost in its consolidated balance sheet. However, on a periodic basis or whenever events or changes in circumstances indicate that they may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), the respective carrying value of non-financial assets are assessed for impairment and, if ultimately considered impaired, are adjusted and written down to their fair value, as estimated based on consideration of external market participant assumptions and discounted cash flows. No impairment charges were recorded during either of the three-month periods ended June 29, 2024 or July 1, 2023.

Other Assets and Liabilities (Tables)

3 Months Ended

Jun. 29, 2024

Balance Sheet Related Disclosures [Abstract]

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following:


	June 29, 2024		March 30, 2024
	(millions)

Prepaid software maintenance	$	33.3	$	19.2
Prepaid marketing and advertising	30.8		19.6
Non-trade receivables	22.9		27.2
Other taxes receivable	20.9		26.1
Tenant allowances receivable	20.8		5.2
Prepaid occupancy expense	18.4		8.3
Inventory return asset	13.7		13.3
Derivative financial instruments	9.6		6.0
Cloud computing arrangement implementation costs	7.6		7.2
Prepaid insurance	7.4		4.1
Prepaid logistic services	6.5		6.5
Restricted cash	1.4		2.8
Other prepaid expenses and current assets	32.6		26.4
Total prepaid expenses and other current assets	$	225.9	$	171.9

Schedule of other non-current assets

Other non-current assets consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Security deposits	$	35.0	$	34.2
Derivative financial instruments	32.3		30.6
Cloud computing arrangement implementation costs	15.6		16.0
Equity method and other investments	7.9		7.5
Deferred rent assets	6.2		6.3
Restricted cash	5.3		5.6

Other non-current assets	23.8		25.5
Total other non-current assets	$	126.1	$	125.7

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Accrued operating expenses	$	185.6	$	192.0
Accrued inventory	178.6		122.2
Accrued payroll and benefits	138.7		207.7
Other taxes payable	79.9		60.8
Accrued marketing and advertising	69.9		74.2
Dividends payable	51.5		47.5
Restructuring reserve	28.3		32.3
Accrued capital expenditures	24.1		26.7
Finance lease obligations	19.1		19.2
Deferred income	18.3		17.3

Other accrued expenses and current liabilities	7.5		9.8
Total accrued expenses and other current liabilities	$	801.5	$	809.7

Schedule of non-current liabilities

Other non-current liabilities consist of the following:


	June 29, 2024		March 30, 2024
	(millions)
Deferred lease incentives and obligations	$	39.2	$	41.0
Asset retirement obligations	34.6		34.8
Accrued benefits and deferred compensation	20.5		20.5
Deferred tax liabilities	9.5		7.0
Derivative financial instruments	0.1		5.2
Other non-current liabilities	3.9		5.1
Total other non-current liabilities	$	107.8	$	113.6

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income	$ 168.6	$ 132.1

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Debt (Details Textual 1) ¥ in Millions, $ in Millions, ₩ in Billions, ¥ in Billions	3 Months Ended
	Jun. 29, 2024 USD ($) Quarter	Jun. 29, 2024 CNY (¥)	Jun. 29, 2024 KRW (₩)	Jun. 29, 2024 JPY (¥)	Mar. 30, 2024 USD ($)
Credit Facilities (Textual) [Abstract]
Maximum expected combined borrowings outstanding - Commercial Paper Program and Global Credit Facility	$ 750.0
Commercial Paper	0.0				$ 0.0
Commercial Paper [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 750.0
Commercial Paper [Member] \| Maximum [Member]
Credit Facilities (Textual) [Abstract]
Short-term Debt, Terms	397 days
Global Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 1,500.0
Borrowing capacity under unsecured revolving line of credit	$ 750.0
Line of credit facility, expiration date	Jun. 30, 2028
Borrowings outstanding under revolving credit facilities	$ 0.0				0.0
Line of credit facility, contingent liability for outstanding LOCs	$ 11.8				11.8
Credit facility covenant terms	The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 4.25 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding, including finance lease obligations, plus all operating lease obligations. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) operating lease cost, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs.
Maximum Ratio Of Adjusted Debt To Consolidated EBITDAR As Of Date Of Measurement For Four Consecutive Quarters	4.25
Leverage Ratio Number Of Consecutive Fiscal Quarters Used \| Quarter	4
Line of Credit Facility, Covenant Compliance	no Event of Default (as such term is defined pursuant to the Global Credit Facility) has occurred under the Company's Global Credit Facility
China Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 14.0	¥ 100
Line of credit facility, expiration date	Apr. 03, 2025
South Korea Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 21.0		₩ 30
Line of credit facility, expiration date	Oct. 25, 2024
Japan Overdraft Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 31.0			¥ 5
Line of credit facility, expiration date	Apr. 30, 2025
Pan-Asia Borrowing Facilities [Member]
Credit Facilities (Textual) [Abstract]
Borrowings outstanding under revolving credit facilities	$ 0.0				$ 0.0

Summary of Significant Accounting Policies (Details 3) - shares shares in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Summary of basic and diluted shares
Basic shares	63.2	65.9
Dilutive effect of RSUs	1.4	1.5
Diluted shares	64.6	67.4
Summary of Significant Accounting Policies (Textual) [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.3	0.1

Segment Information (Tables)

3 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Net revenues by segment

Net revenues for each of the Company's segments are as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net revenues:
North America		$	608.2	$	631.7
Europe		479.1		450.5
Asia		390.9		377.5
Other non-reportable segments		34.0		36.8
Total net revenues		$	1,512.2	$	1,496.5

Net operating income (loss) by segment

Operating income for each of the Company's segments is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Operating income:
North America		$	119.8	$	125.3
Europe		120.6		97.2
Asia		107.2		93.3
Other non-reportable segments		29.6		33.8
		377.2		349.6
Unallocated corporate expenses		(161.3)		(147.6)
Unallocated restructuring and other charges, net(a)		(7.4)		(35.6)
Total operating income		$	208.5	$	166.4

(a)The three-month periods ended June 29, 2024 and July 1, 2023 included certain unallocated restructuring and other charges, net (see Note 7), which are detailed below:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Unallocated restructuring and other charges, net:
North America-related		$	0.4	$	(3.9)
Europe-related		(0.9)		(1.4)
Asia-related		(0.6)		(1.4)
Other non-reportable segment-related		(0.1)		—
Corporate operations-related		(1.1)		(23.8)
Unallocated restructuring charges		(2.3)		(30.5)
Other charges (see Note 7)		(5.1)		(5.1)
Total unallocated restructuring and other charges, net		$	(7.4)	$	(35.6)

Unallocated restructuring and other charges

The three-month periods ended June 29, 2024 and July 1, 2023 included certain unallocated restructuring and other charges, net (see Note 7), which are detailed below:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Unallocated restructuring and other charges, net:
North America-related		$	0.4	$	(3.9)
Europe-related		(0.9)		(1.4)
Asia-related		(0.6)		(1.4)
Other non-reportable segment-related		(0.1)		—
Corporate operations-related		(1.1)		(23.8)
Unallocated restructuring charges		(2.3)		(30.5)
Other charges (see Note 7)		(5.1)		(5.1)
Total unallocated restructuring and other charges, net		$	(7.4)	$	(35.6)

Depreciation and amortization by segment

Depreciation and amortization expense for the Company's segments is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Depreciation and amortization expense:
North America		$	20.6	$	20.3
Europe		8.4		8.8
Asia		12.5		13.3

Unallocated corporate		12.9		15.9

Total depreciation and amortization expense		$	54.4	$	58.3

Net revenues by geographic location

Net revenues by geographic location of the reporting subsidiary are as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net revenues(a):
The Americas(b)		$	647.8	$	676.6
Europe(c)		473.5		442.4
Asia(d)		390.9		377.5
Total net revenues		$	1,512.2	$	1,496.5

(a)Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license.

(c)Includes the Middle East.

(d)Includes Australia and New Zealand.

Debt (Details Textual) - USD ($) $ in Millions			3 Months Ended
Debt (Details Textual) - USD ($) $ in Millions	Aug. 18, 2020	Sep. 26, 2018	Jun. 29, 2024	Jun. 27, 2020
2.125% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 300.0
Debt Instrument, Maturity Date		Sep. 26, 2018
Interest Rate on Debt		2.125%
2.625% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300.0
Debt Instrument, Maturity Date	Aug. 18, 2020
Interest Rate on Debt	2.625%
3.750% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400.0
Debt Instrument, Maturity Date			Sep. 15, 2025
Long-term debt, net of discount			99.521%
Interest Rate on Debt			3.75%
1.700% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500.0
Debt Instrument, Maturity Date			Jun. 15, 2022
Long-term debt, net of discount			99.88%
Interest Rate on Debt			1.70%
2.950% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 750.0
Debt Instrument, Maturity Date			Jun. 15, 2030
Long-term debt, net of discount			98.995%
Interest Rate on Debt			2.95%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			100.00%
Debt Instrument, Restrictive Covenants			The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants.
Global Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of Lines of Credit				$ 475.0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024
Income Tax Disclosure [Abstract]
Effective tax rate	22.10%	22.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Non-current liability for unrecognized tax benefits	$ 123.3		$ 118.7
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 83.6		$ 80.1

Property and Equipment (Tables)

3 Months Ended

Jun. 29, 2024

Property, Plant and Equipment [Abstract]

Property and equipment, net

Property and equipment, net consists of the following:


	June 29, 2024		March 30, 2024
	(millions)
Land and improvements	$	15.3	$	15.3
Buildings and improvements	412.0		416.8
Furniture and fixtures	627.3		627.1
Machinery and equipment	393.0		389.5
Capitalized software	560.0		558.5
Leasehold improvements	1,256.0		1,249.4
Construction in progress	48.5		46.2
	3,312.1		3,302.8
Less: accumulated depreciation	(2,486.1)		(2,452.4)
Property and equipment, net	$	826.0	$	850.4

Equity (Details Textual) - $ / shares	3 Months Ended
Equity (Details Textual) - $ / shares	Jun. 29, 2024	Jul. 01, 2023
Dividends (Textual) [Abstract]
Dividends declared per share	$ 0.825	$ 0.75
Dividends Payable, Date of Record	Jun. 28, 2024
Dividends Payable, Date to be Paid	Jul. 12, 2024

Financial Instruments (Tables)

3 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets

The following table summarizes the Company's outstanding derivative instruments recorded on its consolidated balance sheets as of June 29, 2024 and March 30, 2024:


	Notional Amounts				Derivative Assets						Derivative Liabilities
Derivative Instrument(a)	June 29, 2024		March 30, 2024		June 29, 2024			March 30, 2024			June 29, 2024			March 30, 2024
					Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value		Balance Sheet Line(b)	Fair Value
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	331.6	$	319.4	PP	$	8.3	PP	$	4.8		$	—	AE	$	0.2

Net investment hedges(c)	700.0		700.0		ONCA	32.3		ONCA	30.6		ONCL	0.1		ONCL	5.2
Total Designated Hedges	1,031.6		1,019.4			40.6			35.4			0.1			5.4
Undesignated Hedges:
FC — Undesignated hedges(d)	176.1		153.2		PP	1.3		PP	1.2		AE	0.1		AE	0.1
Total Hedges	$	1,207.7	$	1,172.6		$	41.9		$	36.6		$	0.2		$	5.5

(a)FC = Forward foreign currency exchange contracts.

(b)PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities.

(c)Includes cross-currency swaps designated as hedges of the Company's net investment in certain foreign operations.

(d)Relates to third-party and intercompany foreign currency-denominated exposures and balances.

Offsetting Assets


	June 29, 2024						March 30, 2024
	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements		Net Amount		Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements		Net Amount
	(millions)
Derivative assets	$	41.9	$	(0.1)	$	41.8	$	36.6	$	(0.2)	$	36.4
Derivative liabilities	0.2		(0.1)		0.1		5.5		(0.2)		5.3

Gains (losses) recognized in AOCI or earnings from derivatives designated as hedging instruments


		Gains (Losses) Recognized in OCI
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Designated Hedges:
FC — Cash flow hedges		$	6.2	$	5.9
Net investment hedges — effective portion		4.9		(3.0)
Net investment hedges — portion excluded from assessment of hedge effectiveness		2.0		(9.8)
Total Designated Hedges		$	13.1	$	(6.9)

Location and Amount of
Gains (Losses) from
Cash Flow Hedges Reclassified from AOCI to Earnings

Three Months Ended

June 29,
2024

July 1,
2023

Cost of
goods sold

(millions)

Total amounts presented in the consolidated statements of operations in which the effects of related cash flow hedges are recorded

(446.4)

(464.5)

Effects of cash flow hedging:

FC — Cash flow hedges

2.2

4.9


		Gains (Losses) from Net Investment Hedges Recognized in Earnings				Location of Gains (Losses) Recognized in Earnings
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Net Investment Hedges:
Net investment hedges — portion excluded from assessment of hedge effectiveness(a)		$	3.1	$	3.1	Interest expense
Total Net Investment Hedges		$	3.1	$	3.1

Gains (losses) recognized in earnings from derivatives not designated as hedging instruments


		Gains (Losses) Recognized in Earnings				Location of Gains (Losses) Recognized in Earnings
	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Undesignated Hedges:
FC — Undesignated hedges		$	3.1	$	3.5	Other income (expense), net
Total Undesignated Hedges		$	3.1	$	3.5

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 29, 2024
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation These unaudited interim consolidated financial statements present the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation.
Fiscal Periods	Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to March 31. As such, fiscal year 2025 will end on March 29, 2025 and will be a 52-week period ("Fiscal 2025"). Fiscal year 2024 ended on March 30, 2024 and was also a 52-week period ("Fiscal 2024"). The first quarter of Fiscal 2025 ended on June 29, 2024 and was a 13-week period. The first quarter of Fiscal 2024 ended on July 1, 2023 and was also a 13-week period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include reserves for customer bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related forfeiture rates; and reserves for restructuring activity, among others.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation
Revenue Recognition	Revenue Recognition The Company recognizes revenue across all channels of the business when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services, and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales and other related taxes collected from customers and remitted to government authorities are excluded from revenue. Revenue from the Company's retail business is recognized when the customer takes physical possession of the products, which occurs either at the point of sale for merchandise purchased at the Company's own retail stores and shop-within-shop locations, or upon receipt of shipment for merchandise ordered through direct-to-consumer digital commerce sites. Such revenues are recorded net of estimated returns based on historical trends. Payment is due at the point of sale. Gift cards purchased by customers are recorded as a liability until they are redeemed for products sold by the Company's retail business, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed (referred to as "breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions. Revenue from the Company's wholesale business is generally recognized upon shipment of products, at which point title passes and risk of loss is transferred to the customer. In certain arrangements where the Company retains the risk of loss during shipment, revenue is recognized upon receipt of products by the customer. Wholesale revenue is recorded net of estimates of returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances. Returns and allowances require pre-approval from management and discounts are based on trade terms. Estimates for end-of-season markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Estimates for operational chargebacks are based on actual customer notifications of order fulfillment discrepancies and historical trends. The Company reviews and refines these estimates on at least a quarterly basis. The Company's historical estimates of these amounts have not differed materially from actual results. Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks (i.e., symbolic intellectual property) and benefit from such access through their own sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements, may be subject to a contractually-guaranteed minimum royalty amount. Payments are generally due quarterly and, depending on time of receipt, may be recorded as a liability until recognized as revenue. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually-guaranteed minimum royalty amount) as licensed products are sold by the licensee. If a sales-based royalty is not ultimately expected to exceed a contractually-guaranteed minimum royalty amount, the minimum is generally recognized as revenue ratably over the respective contractual period. This sales-based output measure of progress and pattern of recognition best represents the value transferred to the licensee over the term of the arrangement, as well as the amount of consideration that the Company is entitled to receive in exchange for providing access to its trademarks. Deferred Income Deferred income represents cash payments received in advance of the Company's transfer of control of products or services to its customers and generally consists of unredeemed gift cards (net of breakage) and advance royalty payments from its licensees.
Shipping and Handling Costs	Shipping and Handling Costs Costs associated with shipping goods to customers are accounted for as fulfillment activities and reflected as selling, general, and administrative ("SG&A") expenses in the consolidated statements of operations. Costs of preparing merchandise for sale, such as picking, packing, warehousing, and order charges ("handling costs"), are also included in SG&A expenses. Shipping and handling costs billed to customers are included in revenue.
Net Income per Common Share	Net Income per Common Share Basic net income per common share is computed by dividing net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Weighted-average common shares include shares of the Company's Class A and Class B common stock. Diluted net income per common share adjusts basic net income per common share for the dilutive effects of outstanding restricted stock units ("RSUs") and any other potentially dilutive instruments and stock-based compensation awards using the treasury stock method, only for periods in which such effects are dilutive. The Company has outstanding performance-based RSUs, which are included in the computation of diluted shares only to the extent that the underlying performance conditions (i) have been satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive.
Accounts Receivable	Accounts Receivable In the normal course of business, the Company extends credit to wholesale customers that satisfy certain defined credit criteria. Payment is generally due within 30 to 120 days and does not involve a significant financing component. Accounts receivable are recorded at amortized cost, which approximates fair value, and are presented in the consolidated balance sheets net of certain reserves and allowances. These reserves and allowances consist of (i) reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances (see the "Revenue Recognition" section above for further discussion of related accounting policies) and (ii) allowances for doubtful accounts. An allowance for doubtful accounts is determined through analysis of accounts receivable aging, assessments of collectability based on evaluation of historical trends, the financial condition of the Company's customers and their ability to withstand prolonged periods of adverse economic conditions, and evaluation of the impact of current and forecasted economic and market conditions over the related asset's contractual life, among other factors.
Inventories	Inventories The Company holds inventory that is sold in its retail stores and digital commerce sites directly to consumers. The Company also holds inventory that is to be sold through wholesale distribution channels to major department stores, specialty stores, and third-party digital partners. Substantially all of the Company's inventories consist of finished goods, which are stated at the lower of cost or estimated realizable value, with cost determined on a weighted-average cost basis.
Supplier Finance Program	Supplier Finance Program The Company supports a voluntary supplier finance program which provides certain of its inventory suppliers the opportunity, at their sole discretion, to sell their receivables due from the Company (which are generally due within 90 days) to a participating financial institution in exchange for receipt of a discounted payment amount made earlier than the payment term stipulated between the Company and the supplier. The Company's vendor payment terms and amounts due are not impacted by a supplier's decision to participate in the program. The Company has not pledged any assets and does not provide guarantees under the supplier finance program.
Derivative Financial Instruments	Derivative Financial Instruments The Company records derivative financial instruments on its consolidated balance sheets at fair value. Changes in the fair value of derivative instruments that are designated and qualify for hedge accounting are either (i) offset through earnings against the changes in fair value of the related hedged assets, liabilities, or firm commitments or (ii) recognized in equity as a component of accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the instrument is hedging against changes in fair value or cash flows and net investments, respectively. Each derivative instrument that qualifies for hedge accounting is expected to be highly effective in offsetting the risk associated with the related exposure. For each instrument that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item, and the risk exposure, as well as how hedge effectiveness will be assessed over the instrument's term. To assess hedge effectiveness at the inception of a hedging relationship, the Company generally uses regression analysis, a statistical method, to evaluate how changes in the fair value of the derivative instrument are expected to offset changes in the fair value or cash flows of the related hedged item. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed by the Company on at least a quarterly basis. Given its use of derivative instruments, the Company is exposed to the risk that counterparties to such contracts will fail to meet their contractual obligations. To mitigate such counterparty credit risk, the Company's policy is to only enter into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings and certain other factors, adhering to established limits for credit exposure. The Company's established policies and procedures for mitigating credit risk include ongoing review and assessment of its counterparties' creditworthiness. The Company also enters into master netting arrangements with counterparties, when possible, to further mitigate credit risk. In the event of default or termination, these arrangements allow the Company to net-settle amounts payable and receivable related to multiple derivative transactions with the same counterparty. The master netting arrangements specify a number of events of default and termination, including the failure to make timely payments. The fair values of the Company's derivative instruments are recorded on its consolidated balance sheets on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities for its forward foreign exchange contracts and within cash flows from investing activities for its cross-currency swap contracts, both as discussed below. Cash Flow Hedges The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency. To the extent designated as cash flow hedges, related gains or losses on such instruments are initially deferred in equity as a component of AOCI and are subsequently recognized within cost of goods sold in the consolidated statements of operations when the related inventory is sold. If a derivative instrument is dedesignated or if hedge accounting is discontinued because the instrument is not expected to be highly effective in hedging the designated exposure, any further gains (losses) are recognized in earnings each period within other income (expense), net. Upon discontinuance of hedge accounting, the cumulative change in fair value of the derivative instrument recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the hedging strategy, unless the related forecasted transaction is probable of not occurring, in which case the accumulated amount is immediately recognized within other income (expense), net. Hedges of Net Investments in Foreign Operations The Company periodically uses cross-currency swap contracts to reduce risk associated with exchange rate fluctuations on certain of its net investments in foreign subsidiaries. Changes in the fair values of such derivative instruments that are designated as hedges of net investments in foreign operations are recorded in equity as a component of AOCI in the same manner as foreign currency translation adjustments. In assessing the effectiveness of such hedges, the Company uses a method based on changes in spot rates to measure the impact of foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related hedging instrument. Under this method, changes in the fair value of the hedging instrument other than those due to changes in the spot rate are initially recorded in AOCI as a translation adjustment and are amortized into earnings as interest expense using a systematic and rational method over the instrument's term. Changes in fair value associated with the effective portion (i.e., those due to changes in the spot rate) are recorded in AOCI as a translation adjustment and are released and recognized in earnings only upon the sale or liquidation of the hedged net investment. Undesignated Hedges The Company uses undesignated hedges primarily to hedge foreign currency exchange rate risk related to third-party and intercompany balances and exposures. Changes in the fair values of such instruments are recognized in earnings each period within other income (expense), net.

Stock-based Compensation

3 Months Ended

Jun. 29, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

The Company's stock-based compensation awards are currently issued under the 2019 Incentive Plan, which was approved by its stockholders on August 1, 2019. However, any prior awards granted under either the Company's 2010 Incentive Plan or 1997 Incentive Plan remain subject to the terms of those plans, as applicable. Any awards that expire, are forfeited, or are surrendered to the Company in satisfaction of taxes are available for issuance under the 2019 Incentive Plan.

Refer to Note 18 of the Fiscal 2024 10-K for a detailed description of the Company's stock-based compensation awards, including information related to vesting terms, service, performance, and market conditions and payout percentages.

Impact on Results

A summary of total stock-based compensation expense recorded in SG&A expenses and the related income tax benefits recognized during the three-month periods ended June 29, 2024 and July 1, 2023 is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Compensation expense		$	24.3	$	21.4
Income tax benefit		(3.2)		(3.3)

The Company issues its annual grants of stock-based compensation awards in the first half of each fiscal year. Due to the timing of the annual grants and other factors, including the timing and magnitude of forfeiture and performance goal achievement adjustments, as well as changes to the size and composition of the eligible employee population, stock-based compensation expense recognized during any given fiscal period is not indicative of the level of compensation expense expected to be incurred in future periods.

Service-based RSUs

The fair values of service-based RSUs granted to certain of the Company's senior executives and other employees, as well as non-employee directors, are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards for which dividend equivalent amounts do not accrue to the holder while outstanding and unvested. The weighted-average grant date fair values of service-based RSU awards granted were $176.95 and $114.21 per share during the three-month periods ended June 29, 2024 and July 1, 2023, respectively.

A summary of service-based RSU activity during the three months ended June 29, 2024 is as follows:


						Number of Service-based RSUs
						(thousands)
Unvested at March 30, 2024						1,054
Granted						3
Vested						(3)
Forfeited						(11)
Unvested at June 29, 2024						1,043

Performance-based RSUs

The fair values of the Company's performance-based RSUs granted to its senior executives and other key employees are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards for which dividend equivalent amounts do not accrue to the holder while outstanding and unvested. No such awards were granted during the three-month periods ended June 29, 2024 and July 1, 2023.

Market-based RSUs

The Company grants market-based RSUs, which are based on total shareholder return ("TSR") performance, to its senior executives and other key employees. The Company estimates the fair value of its TSR awards on the date of grant using a Monte Carlo simulation, which models multiple stock price paths of the Company's Class A common stock and that of its peer group to evaluate and determine its ultimate expected relative TSR performance ranking. Compensation expense, net of estimated forfeitures, is recorded regardless of whether, and the extent to which, the market condition is ultimately satisfied. No such awards were granted during the three-month periods ended June 29, 2024 and July 1, 2023.

A summary of performance-based RSU activity including TSR awards during the three months ended June 29, 2024 is as follows:


						Number of Performance-based RSUs
						(thousands)
Unvested at March 30, 2024						682
Granted						—
Change due to performance and/or market condition achievement						72
Vested						(281)
Forfeited						—
Unvested at June 29, 2024						473

Additional Financial Information

3 Months Ended

Jun. 29, 2024

Supplemental Cash Flow Information [Abstract]

Additional Financial Information

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash as of June 29, 2024 and March 30, 2024 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:


	June 29, 2024		March 30, 2024
	(millions)
Cash and cash equivalents	$	1,586.9	$	1,662.2
Restricted cash included within prepaid expenses and other current assets	1.4		2.8
Restricted cash included within other non-current assets	5.3		5.6
Total cash, cash equivalents, and restricted cash	$	1,593.6	$	1,670.6

Restricted cash relates to cash held in escrow with certain banks as collateral, primarily to secure guarantees in connection with certain international tax matters and real estate leases.

Cash Paid for Interest and Taxes

Cash paid for interest and income taxes is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Cash paid for interest		$	13.9	$	12.7
Cash paid for income taxes, net of refunds		38.5		32.2

Cash Paid for Leases

The following table summarizes certain cash flow information related to the Company's leases:


	Three Months Ended
	June 29, 2024		July 1, 2023
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	87.6	$	92.2
Operating cash flows for finance leases	2.0		2.7
Financing cash flows for finance leases	4.9		6.0

Non-cash Transactions

Operating lease ROU assets recorded in connection with the recognition of new lease liabilities were $70.1 million and $48.0 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively.

Non-cash investing activities also included capital expenditures incurred but not yet paid of $24.1 million and $36.1 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively.

There were no other significant non-cash investing or financing activities for any of the fiscal periods presented.

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net income	$ 168.6	$ 132.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	54.4	58.3
Deferred income tax expense (benefit)	12.3	(0.4)
Stock-based compensation expense	24.3	21.4
Bad debt expense (reversals)	0.8	(0.8)
Other non-cash charges	0.6	3.5
Changes in operating assets and liabilities:
Accounts receivable	70.3	97.8
Inventories	(145.5)	(128.3)
Prepaid expenses and other current assets	(58.1)	(21.8)
Accounts payable and accrued liabilities	145.6	105.3
Income tax receivables and payables	(0.5)	6.8
Operating lease right-of-use assets and liabilities, net	8.0	(6.3)
Other balance sheet changes	(3.5)	3.1
Net cash provided by operating activities	277.3	270.7
Cash flows from investing activities:
Capital expenditures	(33.4)	(39.6)
Purchases of investments	(174.3)	(73.3)
Proceeds from sales and maturities of investments	119.1	35.4
Other investing activities	1.0	0.0
Net cash used in investing activities	(87.6)	(77.5)
Cash flows from financing activities:
Payments of finance lease obligations	(4.9)	(6.0)
Payments of dividends	(47.5)	(49.2)
Repurchases of common stock, including shares surrendered for tax withholdings	(201.2)	(56.8)
Net cash used in financing activities	(253.6)	(112.0)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(13.1)	(3.9)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(77.0)	77.3
Cash, cash equivalents, and restricted cash at beginning of period	1,670.6	1,536.9
Cash, cash equivalents, and restricted cash at end of period	$ 1,593.6	$ 1,614.2

Stock-based Compensation (Details Textual) - $ / shares	3 Months Ended
Stock-based Compensation (Details Textual) - $ / shares	Jun. 29, 2024	Jul. 01, 2023
Service-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 176.95	$ 114.21
Performance-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	0	0
Market-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Allowance on accounts receivable	$ 158.8	$ 175.3
Class A common stock, par value $.01 per share; 112.0 million and 111.7 million shares issued; 40.5 million and 41.4 million shares outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	112.0	111.7
Common stock, shares outstanding	40.5	41.4
Treasury Stock, Common, Shares	71.5	70.3
Class B common stock, par value $.01 per share; 21.9 million shares issued and outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	21.9	21.9
Common stock, shares outstanding	21.9	21.9

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved, from time to time, in litigation, other legal claims, and proceedings involving matters associated with or incidental to its business, including, among other things, matters involving credit card fraud, trademark and other intellectual property, licensing, importation and exportation of its products, taxation, unclaimed property, leases, and employee relations. The Company believes at present that the resolution of currently pending matters will not individually or in the aggregate have a material adverse effect on its consolidated financial statements. However, the Company's assessment of any current litigation or other legal claims could potentially change in light of the discovery of facts not presently known or determinations by judges, juries, or other finders of fact which are not in accord with management's evaluation of the possible liability or outcome of such litigation or claims. In the normal course of business, the Company may enter into certain guarantees or other agreements that provide general indemnifications. The Company has not made any significant indemnification payments under such agreements in the past and does not currently anticipate incurring any material indemnification payments.

Income Taxes	3 Months Ended
Income Taxes	Jun. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate The Company's effective tax rate, which is calculated by dividing each fiscal period's income tax provision by pretax income, was 22.1% and 22.6% during the three-month periods ended June 29, 2024 and July 1, 2023, respectively. The effective tax rate for the three months ended June 29, 2024 was higher than the U.S. federal statutory income tax rate of 21% primarily due to uncertain tax positions and state taxes, partially offset by the favorable tax impact of earnings generated in lower taxed foreign jurisdictions versus the U.S. The effective tax rate for the three months ended July 1, 2023 was higher than the U.S. federal statutory income tax rate of 21% primarily due to the unfavorable impact of adjustments related to uncertain tax positions and state taxes, partially offset by the favorable tax impact of earnings generated in lower taxed foreign jurisdictions versus the U.S. Uncertain Income Tax Benefits The Company classifies interest and penalties related to unrecognized tax benefits as part of its income tax provision. The total amount of unrecognized tax benefits, including interest and penalties, was $123.3 million and $118.7 million as of June 29, 2024 and March 30, 2024, respectively, and was included within the non-current liability for unrecognized tax benefits in the consolidated balance sheets. The total amount of unrecognized tax benefits that, if recognized, would affect the Company's effective tax rate was $83.6 million and $80.1 million as of June 29, 2024 and March 30, 2024, respectively. Future Changes in Unrecognized Tax Benefits The total amount of unrecognized tax benefits relating to the Company's tax positions is subject to change based on future events including, but not limited to, settlements of ongoing tax audits and assessments and the expiration of applicable statutes of limitations. Although the outcomes and timing of such events are highly uncertain, the Company does not anticipate that the balance of gross unrecognized tax benefits, excluding interest and penalties, will change significantly during the next twelve months. However, changes in the occurrence, expected outcomes, and timing of such events could cause the Company's current estimate to change materially in the future. The Company files a consolidated U.S. federal income tax return, as well as tax returns in various state, local, and foreign jurisdictions. The Company is generally no longer subject to examinations by the relevant tax authorities for years prior to its fiscal year ended April 2, 2016.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Current assets:
Cash and cash equivalents	$ 1,586.9	$ 1,662.2
Short-term investments	173.6	121.0
Accounts receivable, net of allowances of $158.8 million and $175.3 million	371.8	446.5
Inventories	1,039.1	902.2
Income tax receivable	50.6	56.0
Prepaid expenses and other current assets	225.9	171.9
Total current assets	3,447.9	3,359.8
Property and equipment, net	826.0	850.4
Operating lease right-of-use assets	1,019.3	1,014.6
Deferred tax assets	266.6	288.3
Goodwill	882.6	888.1
Intangible assets, net	72.5	75.7
Other non-current assets	126.1	125.7
Total assets	6,641.0	6,602.6
Current liabilities:
Accounts payable	477.8	332.2
Current income tax payable	58.3	79.8
Current operating lease liabilities	236.0	245.5
Accrued expenses and other current liabilities	801.5	809.7
Total current liabilities	1,573.6	1,467.2
Long-term debt	1,141.1	1,140.5
Long-term finance lease liabilities	249.9	256.1
Long-term operating lease liabilities	1,036.1	1,014.0
Non-current income tax payable	42.2	42.2
Non-current liability for unrecognized tax benefits	123.3	118.7
Other non-current liabilities	107.8	113.6
Commitments and contingencies (Note 12)
Total liabilities	4,274.0	4,152.3
Equity:
Additional paid-in-capital	2,948.1	2,923.8
Retained earnings	7,168.7	7,051.6
Treasury stock, Class A, at cost; 71.5 million and 70.3 million shares	(7,453.0)	(7,250.3)
Accumulated other comprehensive loss	(298.1)	(276.1)
Total equity	2,367.0	2,450.3
Total liabilities and equity	6,641.0	6,602.6
Class A common stock, par value $.01 per share; 112.0 million and 111.7 million shares issued; 40.5 million and 41.4 million shares outstanding
Equity:
Common stock	1.1	1.1
Class B common stock, par value $.01 per share; 21.9 million shares issued and outstanding
Equity:
Common stock	$ 0.2	$ 0.2

Segment Information (Details 1) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details 1) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Operating income by segment
Operating income	$ 208.5	$ 166.4
Unallocated restructuring and other charges, net	(7.4)	(35.6)
Unallocated charges [Member]
Operating income by segment
Unallocated corporate expenses	(161.3)	(147.6)
Unallocated restructuring and other charges, net	(7.4)	(35.6)
North America segment [Member]
Operating income by segment
Operating income	119.8	125.3
Europe segment [Member]
Operating income by segment
Operating income	120.6	97.2
Asia segment [Member]
Operating income by segment
Operating income	107.2	93.3
Other non-reportable segments [Member]
Operating income by segment
Operating income	29.6	33.8
Total Operating Segments
Operating income by segment
Operating income	$ 377.2	$ 349.6

Debt (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Debt Instrument [Line Items]
Long-term debt	$ 1,141.1	$ 1,140.5
3.750% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes, Carrying Value, Noncurrent	399.2	399.0
Unamortized Debt Issuance Costs	0.8	1.0
2.950% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes, Carrying Value, Noncurrent	741.9	741.5
Unamortized Debt Issuance Costs	$ 8.1	$ 8.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
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+ Details

Financial Instruments (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	$ 1,207.7	$ 1,172.6
Derivative Assets
Derivative Asset, Fair Value	41.9	36.6
Derivative Liabilities
Derivative Liability, Fair Value	0.2	5.5
Designated [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	1,031.6	1,019.4
Derivative Assets
Derivative Asset, Fair Value	40.6	35.4
Derivative Liabilities
Derivative Liability, Fair Value	0.1	5.4
Undesignated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	176.1	153.2
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Assets
Derivative Asset, Fair Value	1.3	1.2
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Accrued Expenses and Other Current Liabilities [Member]
Derivative Liabilities
Derivative Liability, Fair Value	0.1	0.1
Cash Flow Hedging [Member] \| Designated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	331.6	319.4
Cash Flow Hedging [Member] \| Designated [Member] \| Foreign Exchange Forward [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	8.3	4.8
Cash Flow Hedging [Member] \| Designated [Member] \| Foreign Exchange Forward [Member] \| Accrued Expenses and Other Current Liabilities [Member]
Derivative Liabilities
Foreign Currency Cash Flow Hedge Liability at Fair Value	0.0	0.2
Net Investment Hedging [Member] \| Designated [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	700.0	700.0
Net Investment Hedging [Member] \| Designated [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	32.3	30.6
Net Investment Hedging [Member] \| Designated [Member] \| Other Noncurrent Liabilities [Member]
Derivative Liabilities
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	$ 0.1	$ 5.2

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024
Property and equipment, net
Land and improvements	$ 15.3		$ 15.3
Buildings and improvements	412.0		416.8
Furniture and fixtures	627.3		627.1
Machinery and equipment	393.0		389.5
Capitalized software	560.0		558.5
Leasehold improvements	1,256.0		1,249.4
Construction in progress	48.5		46.2
Property and equipment, gross	3,312.1		3,302.8
Less: accumulated depreciation	(2,486.1)		(2,452.4)
Property and equipment, net	826.0		$ 850.4
Operating costs and expenses
Depreciation expense	$ 51.1	$ 54.9

Property and Equipment

3 Months Ended

Jun. 29, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net consists of the following:


	June 29, 2024		March 30, 2024
	(millions)
Land and improvements	$	15.3	$	15.3
Buildings and improvements	412.0		416.8
Furniture and fixtures	627.3		627.1
Machinery and equipment	393.0		389.5
Capitalized software	560.0		558.5
Leasehold improvements	1,256.0		1,249.4
Construction in progress	48.5		46.2
	3,312.1		3,302.8
Less: accumulated depreciation	(2,486.1)		(2,452.4)
Property and equipment, net	$	826.0	$	850.4

Property and equipment, net includes finance lease right-of-use ("ROU") assets, which are reflected in the table above based on their nature.

Depreciation expense was $51.1 million and $54.9 million during the three-month periods ended June 29, 2024, and July 1, 2023, respectively, and was recorded primarily within SG&A expenses in the consolidated statements of operations.

Basis of Presentation	3 Months Ended
Basis of Presentation	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Interim Financial Statements These interim consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") and are unaudited. In the opinion of management, these consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company for the interim periods presented. In addition, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP") and the notes thereto have been condensed or omitted from this report as is permitted by the SEC's rules and regulations. However, the Company believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. This report should be read in conjunction with the Company's Annual Report on Form 10-K filed with the SEC for the fiscal year ended March 30, 2024 (the "Fiscal 2024 10-K"). Basis of Consolidation These unaudited interim consolidated financial statements present the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation (cont.)	Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to March 31. As such, fiscal year 2025 will end on March 29, 2025 and will be a 52-week period ("Fiscal 2025"). Fiscal year 2024 ended on March 30, 2024 and was also a 52-week period ("Fiscal 2024"). The first quarter of Fiscal 2025 ended on June 29, 2024 and was a 13-week period. The first quarter of Fiscal 2024 ended on July 1, 2023 and was also a 13-week period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include reserves for customer bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related forfeiture rates; and reserves for restructuring activity, among others. Reclassifications Certain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation. Seasonality of Business The Company's business is typically affected by seasonal trends, with higher levels of retail sales in its second and third fiscal quarters and higher wholesale sales in its second and fourth fiscal quarters. These trends result primarily from the timing of key vacation travel, back-to-school, and holiday shopping periods impacting its retail business and the timing of seasonal wholesale shipments. As a result of changes in its business, consumer spending patterns, and the macroeconomic environment, including those resulting from pandemic diseases and other catastrophic events, historical quarterly operating trends and working capital requirements may not be indicative of the Company's future performance. In addition, fluctuations in sales, operating income (loss), and cash flows in any fiscal quarter may be affected by other events affecting retail sales, such as changes in weather patterns. Accordingly, the Company's operating results and cash flows for the three-month period ended June 29, 2024 are not necessarily indicative of the operating results and cash flows that may be expected for the full Fiscal 2025.

Additional Financial Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024	Apr. 01, 2023
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents	$ 1,586.9		$ 1,662.2
Restricted cash, current	1.4		2.8
Restricted cash, noncurrent	5.3		5.6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1,593.6	$ 1,614.2	$ 1,670.6	$ 1,536.9
Cash Paid for Interest and Taxes
Cash paid for interest	13.9	12.7
Cash paid for income taxes, net of refunds	38.5	32.2
Additional Financial Information (Textual)
Right-of-use asset obtained in exchange for operating lease liability	70.1	48.0
Capital expenditures incurred but not yet paid	24.1	36.1
Cash Paid for Leases
Operating cash flows from operating leases	87.6	92.2
Operating cash flows from finance leases	2.0	2.7
Finance cash flows from finance leases	$ 4.9	$ 6.0

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Jun. 29, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table presents OCI activity, net of tax, accumulated in equity:


	Foreign Currency Translation Gains (Losses)(a)		Net Unrealized Gains (Losses) on Cash Flow Hedges(b)		Net Unrealized Gains (Losses) on Defined Benefit Plans(c)		Total Accumulated Other Comprehensive Income (Loss)
	(millions)
Balance at March 30, 2024	$	(280.0)	$	7.2	$	(3.3)	$	(276.1)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(25.4)		5.3		(1.0)		(21.1)
Amounts reclassified from AOCI to earnings	—		(1.9)		1.0		(0.9)
Other comprehensive income (loss), net of tax	(25.4)		3.4		—		(22.0)
Balance at June 29, 2024	$	(305.4)	$	10.6	$	(3.3)	$	(298.1)

Balance at April 1, 2023	$	(203.8)	$	4.1	$	3.7	$	(196.0)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(37.5)		5.1		—		(32.4)
Amounts reclassified from AOCI to earnings	—		(4.3)		(0.1)		(4.4)
Other comprehensive income (loss), net of tax	(37.5)		0.8		(0.1)		(36.8)
Balance at July 1, 2023	$	(241.3)	$	4.9	$	3.6	$	(232.8)

(c)Activity is presented net of taxes, which were immaterial for both periods presented.

The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:


	Three Months Ended			Location of Gains (Losses) Reclassified from AOCI to Earnings
		June 29, 2024				July 1, 2023
		(millions)
Gains (losses) on cash flow hedges(a):
FC — Cash flow hedges		$	2.2	$	4.9		Cost of goods sold

Tax effect		(0.3)		(0.6)			Income tax provision
Net of tax		$	1.9	$	4.3

(a)FC = Forward foreign currency exchange contracts.

Summary of Significant Accounting Policies (Details 4) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Sales Returns and Allowances [Member]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance	$ 143.1	$ 148.1
Amount charged against revenue to increase reserve	94.8	95.6
Amount credited against customer accounts to decrease reserve	(110.6)	(107.5)
Foreign currency translation	(1.0)	(1.0)
Ending reserve balance	126.3	135.2
Allowance for Doubtful Accounts
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance	32.2	27.2
Amount recorded to expense to increase (decrease) reserve	0.8	(0.8)
Amount credited against customer accounts to decrease reserve	(0.4)	(0.6)
Foreign currency translation	(0.1)	(0.2)
Ending reserve balance	$ 32.5	$ 25.6

Other Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Prepaid Expense and Other Assets, Current
Prepaid marketing and advertising	$ 30.8	$ 19.6
Prepaid software maintenance	33.3	19.2
Non-trade receivables	22.9	27.2
Other taxes receivable	20.9	26.1
Tenant allowances receivable, current	20.8	5.2
Prepaid occupancy costs	18.4	8.3
Inventory return asset	13.7	13.3
Derivative financial instruments, current	9.6	6.0
Cloud computing arrangement implementation costs, current	7.6	7.2
Prepaid insurance	7.4	4.1
Prepaid logistic services	6.5	6.5
Restricted cash, current	1.4	2.8
Other prepaid expenses and other current assets	32.6	26.4
Prepaid expenses and other current assets	225.9	171.9
Other Assets, Noncurrent
Security deposits	35.0	34.2
Derivative financial instruments, noncurrent	32.3	30.6
Cloud computing arrangement implementation costs, noncurrent	15.6	16.0
Equity method and other investments	7.9	7.5
Deferred rent assets	6.2	6.3
Restricted cash, noncurrent	5.3	5.6
Other non-current assets	23.8	25.5
Total other non-current assets	126.1	125.7
Accrued Expenses and Other Current Liabilities
Accrued operating expenses	185.6	192.0
Accrued inventory	178.6	122.2
Accrued payroll and benefits	138.7	207.7
Other taxes payable	79.9	60.8
Accrued marketing and advertising, current	69.9	74.2
Dividends payable	51.5	47.5
Restructuring reserve, current	28.3	32.3
Accrued capital expenditures	24.1	26.7
Finance lease obligations, current	19.1	19.2
Deferred income	18.3	17.3
Other accrued expenses and current liabilities	7.5	9.8
Total accrued expenses and other current liabilities	801.5	809.7
Other Non-Current Liabilities
Deferred lease incentives and obligations	39.2	41.0
Asset retirement obligations, noncurrent	34.6	34.8
Accrued benefits and deferred compensation, noncurrent	20.5	20.5
Deferred tax liabilities	9.5	7.0
Derivative financial instruments, noncurrent	0.1	5.2
Other non-current liabilities	3.9	5.1
Total other non-current liabilities	$ 107.8	$ 113.6

Segment Information (Details 2) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details 2) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	$ (2.3)	$ (30.5)
Other Charges	(5.1)	(5.1)
Unallocated restructuring and other charges, net	(7.4)	(35.6)
North America-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	0.4	(3.9)
Europe-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	(0.9)	(1.4)
Asia-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	(0.6)	(1.4)
Corporate-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	(1.1)	(23.8)
Other Non-Reportable Segment-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	$ (0.1)	$ 0.0

Consolidated Statements of Equity (Unaudited) - USD ($)
shares in Millions, $ in Millions

Total

Common Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Treasury Stock, Common

AOCI [Member]

^[2]

Beginning balance, shares at Apr. 01, 2023

132.6

^[1]

67.0

Beginning balance at Apr. 01, 2023

$ 2,430.5

$ 1.3

^[1]

$ 2,824.3

$ 6,598.2

$ (6,797.3)

$ (196.0)

Comprehensive Income

Net income

132.1

Other comprehensive loss

(36.8)

Total comprehensive income

95.3

Dividends declared

(49.0)

Repurchases of common stock, shares

0.5

Repurchases of common stock, including excise tax

(57.2)

$ (57.2)

Stock-based compensation

21.4

Shares issued pursuant to stock-based compensation plans, shares

^[1]

0.2

Shares issued pursuant to stock-based compensation plans

0.0

$ 0.0

^[1]

0.0

Ending balance, shares at Jul. 01, 2023

132.8

^[1]

67.5

Ending balance at Jul. 01, 2023

2,441.0

$ 1.3

^[1]

2,845.7

6,681.3

$ (6,854.5)

(232.8)

Beginning balance, shares at Mar. 30, 2024

133.6

^[1]

70.3

Beginning balance at Mar. 30, 2024

2,450.3

$ 1.3

^[1]

2,923.8

7,051.6

$ (7,250.3)

(276.1)

Comprehensive Income

Net income

168.6

Other comprehensive loss

(22.0)

Total comprehensive income

146.6

Dividends declared

(51.5)

Repurchases of common stock, shares

1.2

Repurchases of common stock, including excise tax

(202.7)

$ (202.7)

Stock-based compensation

24.3

Shares issued pursuant to stock-based compensation plans, shares

^[1]

0.3

Shares issued pursuant to stock-based compensation plans

0.0

$ 0.0

^[1]

0.0

Ending balance, shares at Jun. 29, 2024

133.9

^[1]

71.5

Ending balance at Jun. 29, 2024

$ 2,367.0

$ 1.3

^[1]

$ 2,948.1

$ 7,168.7

$ (7,453.0)

$ (298.1)

[1]	Includes Class A and Class B common stock.
[2]	Accumulated other comprehensive income (loss).

Debt (Tables)

3 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Schedule of Debt Instruments

Debt consists of the following:


	June 29, 2024		March 30, 2024
	(millions)
$400 million 3.750% Senior Notes(a)	$	399.2	$	399.0

$750 million 2.950% Senior Notes(b)	741.9		741.5


Total long-term debt	$	1,141.1	$	1,140.5

Financial Instruments (Details Textual 1) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Short-term Investments	$ 173.6	$ 121.0

Financial Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended
Financial Instruments (Details 2) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ 6.2	$ 5.9
Other Comprehensive Income, Designated Hedges, before Reclassifications and Tax	13.1	(6.9)
Cost of goods sold	(446.4)	(464.5)
Designated as Hedging Instrument [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Excluded Component, Gain (Loss), Recognized in Earnings	3.1	3.1
Designated as Hedging Instrument [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of goods sold	2.2	4.9
Effective portion [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	4.9	(3.0)
Portion excluded from assessment of hedge effectiveness [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	2.0	(9.8)
Portion excluded from assessment of hedge effectiveness [Member] \| Designated as Hedging Instrument [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Excluded Component, Gain (Loss), Recognized in Earnings	$ 3.1	$ 3.1

Equity

3 Months Ended

Jun. 29, 2024

Equity [Abstract]

Equity

Common Stock Repurchase Program

A summary of the Company's repurchases of Class A common stock under its common stock repurchase program is as follows:


	Three Months Ended
	June 29, 2024		July 1, 2023
	(millions)
Cost of shares repurchased(a)	$	176.0	$	50.0
Number of shares repurchased	1.0		0.4

(a)Excludes excise tax of $1.5 million and $0.4 million incurred during the three-month periods ended June 29, 2024 and July 1, 2023, respectively.

On February 2, 2022, the Company's Board of Directors approved an expansion of the Company's existing common stock repurchase program that allows it to repurchase up to an additional $1.500 billion of its Class A common stock, excluding related excise taxes. As of June 29, 2024, the remaining availability under the Company's Class A common stock repurchase program was approximately $600 million. Repurchases of shares of the Company's Class A common stock are subject to overall business and market conditions.

In addition, during the three-month periods ended June 29, 2024 and July 1, 2023, 0.2 million and 0.1 million shares of the Company's Class A common stock, at a cost of $25.2 million and $6.8 million, respectively, were surrendered to or withheld by the Company in satisfaction of withholding taxes in connection with the vesting of awards under its long-term stock incentive plans.

Repurchased and surrendered shares are accounted for as treasury stock at cost and held in treasury for future use.

Dividends

The Company has generally maintained a regular quarterly cash dividend program on its common stock since 2003.

On May 16, 2024, the Company's Board of Directors approved an increase to the Company's quarterly cash dividend on its common stock from $0.75 to $0.825 per share. The first quarterly dividend declared to reflect this increase was payable to shareholders of record at the close of business on June 28, 2024 and was paid on July 12, 2024.

The Company intends to continue to pay regular dividends on outstanding shares of its common stock. However, any decision to declare and pay dividends in the future will ultimately be made at the discretion of the Company's Board of Directors and will depend on the Company's results of operations, cash requirements, financial condition, and other factors that the Board of Directors may deem relevant, including economic and market conditions.

- Definition

The entire disclosure for equity.

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+ Details

Financial Instruments (Details 1) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative asset, gross amount in the balance sheet	$ 41.9	$ 36.6
Gross amount of derivatives assets subject to master netting arrangements not offset	(0.1)	(0.2)
Derivative asset, net basis	41.8	36.4
Derivative liability, gross amount in the balance sheet	0.2	5.5
Gross amount of derivative liabilities subject to master netting arrangements not offset	(0.1)	(0.2)
Derivative liability, net basis	$ 0.1	$ 5.3

- Definition

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-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Additional Financial Information (Tables)

3 Months Ended

Jun. 29, 2024

Supplemental Cash Flow Information [Abstract]

Schedule of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash as of June 29, 2024 and March 30, 2024 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:


	June 29, 2024		March 30, 2024
	(millions)
Cash and cash equivalents	$	1,586.9	$	1,662.2
Restricted cash included within prepaid expenses and other current assets	1.4		2.8
Restricted cash included within other non-current assets	5.3		5.6
Total cash, cash equivalents, and restricted cash	$	1,593.6	$	1,670.6

Cash Paid for Interest and Taxes

Cash paid for interest and income taxes is as follows:


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Cash paid for interest		$	13.9	$	12.7
Cash paid for income taxes, net of refunds		38.5		32.2

Cash Paid for Leases

The following table summarizes certain cash flow information related to the Company's leases:


	Three Months Ended
	June 29, 2024		July 1, 2023
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	87.6	$	92.2
Operating cash flows for finance leases	2.0		2.7
Financing cash flows for finance leases	4.9		6.0

Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Apr. 02, 2022
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased	$ 202.7	$ 57.2
Stock Repurchase Program, Authorized Amount			$ 1,500.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	600.0
Stock Repurchase Program Excise Taxes	1.5	0.4
General repurchase program [Member]
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased	$ 176.0	$ 50.0
Number of shares repurchased	1.0	0.4
Withholding in satisfaction of taxes on vested equity award [Member]
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased	$ 25.2	$ 6.8
Number of shares repurchased	0.2	0.1

Stock-based Compensation (Details 1) - Service-based restricted stock units [Member] shares in Thousands	3 Months Ended
	Jun. 29, 2024 shares
Summary of RSU activity
Nonvested beginning balance	1,054
Granted	3
Vested	(3)
Forfeited	(11)
Nonvested ending balance	1,043

Stock-based Compensation (Tables)

3 Months Ended

Jun. 29, 2024

Share-Based Payment Arrangement [Abstract]

Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements


	Three Months Ended
		June 29, 2024		July 1, 2023
		(millions)
Compensation expense		$	24.3	$	21.4
Income tax benefit		(3.2)		(3.3)

Service Based Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock unit activity

A summary of service-based RSU activity during the three months ended June 29, 2024 is as follows:


						Number of Service-based RSUs
						(thousands)
Unvested at March 30, 2024						1,054
Granted						3
Vested						(3)
Forfeited						(11)
Unvested at June 29, 2024						1,043

Performance shares, including TSR awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock unit activity

A summary of performance-based RSU activity including TSR awards during the three months ended June 29, 2024 is as follows:


						Number of Performance-based RSUs
						(thousands)
Unvested at March 30, 2024						682
Granted						—
Change due to performance and/or market condition achievement						72
Vested						(281)
Forfeited						—
Unvested at June 29, 2024						473

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023
Net revenues by segment
Net revenues	$ 1,512.2	$ 1,496.5
North America segment [Member]
Net revenues by segment
Net revenues	608.2	631.7
Europe segment [Member]
Net revenues by segment
Net revenues	479.1	450.5
Asia segment [Member]
Net revenues by segment
Net revenues	390.9	377.5
Other non-reportable segments [Member]
Net revenues by segment
Net revenues	$ 34.0	$ 36.8

- Definition

+ References

+ Details

Segment Information (Details Textual)	3 Months Ended
Segment Information (Details Textual)	Jun. 29, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Financial assets recorded at fair value:
Derivative Asset, Fair Value	$ 41.9	$ 36.6
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	0.2	5.5
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Financial assets recorded at fair value:
Derivative Asset, Fair Value	41.9	36.6
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	$ 0.2	$ 5.5

Equity (Tables)

3 Months Ended

Jun. 29, 2024

Equity [Abstract]

Summary of Repurchased Common Stock

A summary of the Company's repurchases of Class A common stock under its common stock repurchase program is as follows:


	Three Months Ended
	June 29, 2024		July 1, 2023
	(millions)
Cost of shares repurchased(a)	$	176.0	$	50.0
Number of shares repurchased	1.0		0.4

(a)Excludes excise tax of $1.5 million and $0.4 million incurred during the three-month periods ended June 29, 2024 and July 1, 2023, respectively.

Summary of Significant Accounting Policies (Details Textual) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 29, 2024 USD ($) Customer	Mar. 30, 2024 USD ($)	Jul. 01, 2023 USD ($)
Summary of Significant Accounting Policies (Textual) [Abstract]
Deferred income	$ 18.4	$ 17.4
Wholesale customer payment terms	30 to 120 days
Number Of Key Department Store Customers \| Customer	3
Inventory, Net	$ 1,039.1	902.2	$ 1,188.0
Supplier Finance Program, Payment Timing, Period	90 days
Supplier Finance Program, Obligation, Current	$ 210.7	$ 129.2
Total Net Revenue [Member] \| Customer Concentration Risk \| Three largest wholesale customers
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers		13.00%
Accounts Receivable [Member] \| Customer Concentration Risk \| Three largest wholesale customers
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers	22.00%