SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Quarterly Dividend

On August 21, 2018, the Company announced a quarterly cash dividend of $0.125 per share on its Common Stock, restricted stock units (the “RSUs”) and phantom units. The dividend will be payable on September 14, 2018 to holders of record of Common Stock on August 31, 2018.

Trademark Acquisition

On July 3, 2018, the Company acquired the Escada trademark for €35.0 million, the equivalent of $40.8 at the time of closing, from an existing licensor. The acquired trademark covers the world wide use of the trademark for cosmetics, perfumes and beauty products. Escada will continue to be included in the Company’s Luxury division.

2018 Restructuring Actions

As described in Note 6—Restructuring Costs, in connection with the combination and expansion of the 2018 Restructuring Actions, the Company is evaluating initiatives to reduce fixed costs and enable further investment in the business. As part of these initiatives, on August 20, 2018, Management approved plans to rationalize headcount and fixed cost commitments with estimated pre-tax restructuring and related costs of approximately $250.0, to be incurred over the next three years. The estimate includes costs primarily related to employee termination benefits, all of which will result in cash payments.