Segment Information (Tables)

9 Months Ended

Dec. 28, 2024

Segment Reporting [Abstract]

Schedule of Key Performance Information of Reportable Segments

The following table presents the key performance information of the Company’s reportable segments (in millions):

	Three Months Ended				Nine Months Ended
	December 28, 2024		December 30, 2023		December 28, 2024		December 30, 2023
Total revenue:
Versace	$	193	$	227	$	613	$	766
Jimmy Choo	159		166		472		481
Michael Kors	909		1,034		2,322		2,700
Total revenue	$	1,261	$	1,427	$	3,407	$	3,947
Income (loss) from operations:
Versace	$	(21)	$	(14)	$	(41)	$	24
Jimmy Choo	(6)		4		(7)		11
Michael Kors	147		219		309		518
Total segment income from operations	120		209		261		553
Less: Corporate expenses	(51)		(68)		(178)		(210)
Impairment of assets (1)	(675)		(6)		(718)		(26)
Merger related income (costs)	14		(8)		(1)		(12)
Restructuring and other income (expense)	2		(5)		—		(3)
Total (loss) income from operations	$	(590)	$	122	$	(636)	$	302

(1)Impairment of assets during the nine months ended December 28, 2024 includes $617 million, $83 million and $18 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. Impairment of assets during the three and nine months ended December 30, 2023 primarily related to operating lease right-of-use assets at certain Versace and Michael Kors store locations.

Schedule of Depreciation and Amortization Expense for Each Segment

Depreciation and amortization expense for each segment are as follows (in millions):

	Three Months Ended				Nine Months Ended
	December 28, 2024		December 30, 2023		December 28, 2024		December 30, 2023
Depreciation and amortization:
Versace	$	16	$	14	$	44	$	40
Jimmy Choo	7		7		22		22
Michael Kors	19		20		59		61
Corporate	7		5		20		16
Total depreciation and amortization	$	49	$	46	$	145	$	139

Schedule of Total Revenue (as Recognized Based on Country of Origin)

Total revenue (based on country of origin) by geographic location are as follows (in millions):

	Three Months Ended				Nine Months Ended
	December 28, 2024		December 30, 2023		December 28, 2024		December 30, 2023
Revenue:
The Americas (United States, Canada and Latin America) (1)	$	754	$	843	$	1,918	$	2,165
EMEA	341		376		994		1,149
Asia	166		208		495		633
Total revenue	$	1,261	$	1,427	$	3,407	$	3,947

(1)Total revenue earned in the U.S. was $689 million and $1.741 billion, respectively, for the three and nine months ended December 28, 2024. Total revenue earned in the U.S. was $764 million and $1.959 billion, respectively, for the three and nine months ended December 30, 2023.