v3.26.1
SHARE-BASED COMPENSATION
 9 Months Ended
Mar. 28, 2026
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated: 
 Three Months EndedNine Months Ended
March 28, 2026(1)
March 29, 2025(1)
March 28, 2026(1)
March 29, 2025(1)
(millions)
Share-based compensation expense$27.9 $25.2 $81.6 $66.1 
Income tax benefit related to share-based compensation expense5.7 4.4 16.3 12.1 
(1)During the three and nine months ended March 28, 2026, the Company incurred $0.0 million and $0.4 million, respectively, of share-based compensation expense related to the modification of award terms in connection with the sale of the Stuart Weitzman Business as well as $0.3 million and $2.2 million, respectively, of share-based compensation expense related to its Organizational Efficiency Costs. During the three and nine months ended March 29, 2025, the Company incurred $1.0 million of share-based compensation expense related to the modification of award terms in connection with the sale of the Stuart Weitzman Business. Refer to Note 5, "Acquisitions and Divestitures" for further information.
Stock Options
A summary of stock option activity during the nine months ended March 28, 2026 is as follows:
 Number of
Options
Outstanding
(millions)
Outstanding at June 28, 20255.2 
Granted0.2 
Exercised(1.5)
Forfeited or expired— 
Outstanding at March 28, 20263.9 
The weighted-average grant-date fair value of options granted during the nine months ended March 28, 2026 and March 29, 2025 was $36.74 and $12.11, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions:
March 28, 2026March 29, 2025
Expected term (years)5.04.9
Expected volatility41.5 %40.9 %
Risk-free interest rate3.9 %3.8 %
Dividend yield1.4 %3.4 %
Service-based Restricted Stock Unit Awards ("RSUs")
A summary of service-based RSU activity during the nine months ended March 28, 2026 is as follows:
 Number of
Non-vested RSUs
(millions)
Non-vested at June 28, 20254.5 
Granted0.9 
Vested(1.8)
Forfeited(0.2)
Non-vested at March 28, 20263.4 
The weighted-average grant-date fair value of share awards granted during the nine months ended March 28, 2026 and March 29, 2025 was $102.30 and $41.97, respectively.
Performance-based Restricted Stock Unit Awards ("PRSUs")
A summary of PRSU activity during the nine months ended March 28, 2026 is as follows:
 Number of
Non-vested PRSUs
(millions)
Non-vested at June 28, 20251.1 
Granted0.3 
Change due to performance condition achievement0.1 
Vested(0.5)
Forfeited— 
Non-vested at March 28, 20261.0 
The PRSU awards included in the non-vested amount are based on certain Company-specific financial metrics. The effect of the change due to performance condition on the non-vested amount is recognized at the conclusion of the performance period, which may differ from the date on which the award vests.
The weighted-average grant-date fair value per share of PRSU awards granted during the nine months ended March 28, 2026 and March 29, 2025 was $112.10 and $47.14, respectively.