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Pay vs Performance Disclosure
 12 Months Ended
Nov. 26, 2023
USD ($)
$ / shares
Nov. 27, 2022
USD ($)
$ / shares
Nov. 28, 2021
USD ($)
$ / shares
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

PAY VERSUS PERFORMANCE DISCLOSURE

 

In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we are providing the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO NEOs and company performance for the fiscal years listed below. The Compensation and Human Capital Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

 

                    VALUE OF INITIAL FIXED
$100 INVESTMENT
BASED ON:(4)		        
YEAR
(a)		   SUMMARY
COMPENSATION
TABLE TOTAL FOR
PEO(1)
($)
(b)		   COMPENSATION
ACTUALLY PAID TO
PEO(1)(2)(3)
($)
(c)		   AVERAGE SUMMARY
COMPENSATION
TABLE TOTAL FOR
NON-PEO NEOS(1)
($)
(d)		   AVERAGE
COMPENSATION
ACTUALLY PAID TO
NON-PEO NEOS(1)(2)(3)
($)
(e)		   TSR
($)
(f)		   PEER
GROUP
TSR
($)
(g)		   NET
INCOME
($ MILLIONS)
(h)		   ADJUSTED
EBIT(5)
(i)
2023   15,623,233   10,937,841   12,641,859   11,084,803   85.76   52.63   249.60   554.80
2022   15,867,418   (5,530,077)   3,661,501   (417,726)   86.99   67.28   569.10   713.00
2021   16,331,831   33,799,905   4,553,330   6,965,116   143.37   113.04   553.54   712.90
2021   2022   2023
Harmit Singh   Harmit Singh   Harmit Singh
Elizabeth O’Neill   Elizabeth O’Neill   Elizabeth O’Neill
Seth Ellison   Seth Ellison   Michelle Gass
Jennifer Sey   Seth Jaffe   Tracy Layney

 

(1) Charles (“Chip”) V. Bergh was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below.

 

2021   2022   2023
Harmit Singh   Harmit Singh   Harmit Singh
Elizabeth O’Neill   Elizabeth O’Neill   Elizabeth O’Neill
Seth Ellison   Seth Ellison   Michelle Gass
Jennifer Sey   Seth Jaffe   Tracy Layney

(2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the company’s NEOs. These amounts reflect the Total column set forth in the Summary Compensation Table with certain adjustments as described in footnote 3 below.
(3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.

 

Year  SUMMARY COMPENSATION
TABLE TOTAL
MR. BERGH
($)		  EXCLUSION OF STOCK
AWARDS AND OPTION
AWARDS FOR MR. BERGH
($)		  INCLUSION OF
EQUITY VALUES FOR MR.
BERGH
($)		  COMPENSATION
ACTUALLY PAID
TO MR. BERGH
($)
2023  15,623,233  (11,949,250)  7,263,858  10,937,841
2022  15,867,418  (10,799,892)  (10,597,603)  (5,530,077)
2021  16,331,831  (10,140,242)  27,608,316  33,799,905

 

 

             
YEAR  AVERAGE SUMMARY
COMPENSATION TABLE TOTAL
FOR NON-PEO NEOS
($)		  AVERAGE EXCLUSION OF
STOCK AWARDS AND OPTION
AWARDS FOR NON-PEO NEOS
($)		  AVERAGE INCLUSION OF
EQUITY VALUES FOR NON-PEO
NEOS
($)		  AVERAGE COMPENSATION
ACTUALLY PAID TO
NON-PEO NEOS
($)
2023  12,641,859  (8,612,826)  7,055,770  11,084,803
2022  3,661,501  (1,707,875)  (2,371,352)  (417,726)
2021  4,553,330  (1,633,689)  4,045,475  6,965,116

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

YEAR  YEAR-END FAIR VALUE OF EQUITY
AWARDS GRANTED DURING YEAR
THAT REMAINED UNVESTED AS OF
LAST DAY OF YEAR FOR MR. BERGH
($)		  CHANGE IN FAIR VALUE FROM LAST
DAY OF PRIOR YEAR TO LAST DAY
OF YEAR OF UNVESTED EQUITY
AWARDS FOR MR. BERGH
($)		  CHANGE IN FAIR VALUE FROM LAST
DAY OF PRIOR YEAR TO VESTING
DATE OF UNVESTED EQUITY AWARDS
THAT VESTED DURING YEAR
FOR MR. BERGH
($)		  TOTAL - INCLUSION OF
EQUITY VALUES FOR
MR. BERGH
($)
2023  8,810,937  (2,083,319)  536,240  7,263,858
2022  7,226,837  (13,434,058)  (4,390,382)  (10,597,603)
2021  12,996,411  13,445,458  1,166,447  27,608,316

 

YEAR  AVERAGE YEAR-END FAIR VALUE
OF EQUITY AWARDS GRANTED
DURING YEAR THAT REMAINED
UNVESTED AS OF LAST DAY OF
YEAR FOR NON-PEO NEOS
($)		  AVERAGE CHANGE IN
FAIR VALUE FROM LAST
DAY OF PRIOR YEAR
TO LAST DAY OF YEAR
OF UNVESTED EQUITY
AWARDS FOR NON-PEO
NEOS
($)		  AVERAGE VESTING-DATE
FAIR VALUE OF EQUITY
AWARDS GRANTED
DURING YEAR THAT
VESTED DURING YEAR
FOR NON-PEO NEOS
($)		  AVERAGE CHANGE IN
FAIR VALUE FROM LAST
DAY OF PRIOR YEAR
TO VESTING DATE OF
UNVESTED EQUITY
AWARDS THAT VESTED
DURING YEAR FOR NON-
PEO NEOS
($)		  TOTAL – AVERAGE
INCLUSION OF
EQUITY VALUES FOR
NON-PEO NEOS
($)
2023  6,286,038  (222,757)  939,435  53,054  7,055,770
2022  605,030  (2,269,579)  0  (706,803)  (2,371,352)
2021  1,732,840  2,123,938  0  188,697  4,045,475

 

(4) The Peer Group TSR set forth in this table utilizes the S&P 500 Apparel, Accessories and Luxury Goods, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the fiscal year ended November 26, 2023. The comparison assumes $100 was invested for the period starting November 29, 2020, through the end of the listed year in the company and in the S&P 500 Apparel, Accessories and Luxury Goods, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(5) We determined Adjusted EBIT to be the most important financial performance measure used to link company performance to Compensation Actually Paid to our NEOs in 2023. This performance measure may not have been the most important financial performance measure for years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
    
Company Selected Measure Name Adjusted EBIT    
Named Executive Officers, Footnote [Text Block]

 

(1) Charles (“Chip”) V. Bergh was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below.

 

2021   2022   2023
Harmit Singh   Harmit Singh   Harmit Singh
Elizabeth O’Neill   Elizabeth O’Neill   Elizabeth O’Neill
Seth Ellison   Seth Ellison   Michelle Gass
Jennifer Sey   Seth Jaffe   Tracy Layney
    
PEO Total Compensation Amount [1] $ 15,623,233 $ 15,867,418 $ 16,331,831
PEO Actually Paid Compensation Amount [1],[2],[3] $ 10,937,841 (5,530,077) 33,799,905
Adjustment To PEO Compensation, Footnote [Text Block]

 

Year  SUMMARY COMPENSATION
TABLE TOTAL
MR. BERGH
($)		  EXCLUSION OF STOCK
AWARDS AND OPTION
AWARDS FOR MR. BERGH
($)		  INCLUSION OF
EQUITY VALUES FOR MR.
BERGH
($)		  COMPENSATION
ACTUALLY PAID
TO MR. BERGH
($)
2023  15,623,233  (11,949,250)  7,263,858  10,937,841
2022  15,867,418  (10,799,892)  (10,597,603)  (5,530,077)
2021  16,331,831  (10,140,242)  27,608,316  33,799,905

 

YEAR  YEAR-END FAIR VALUE OF EQUITY
AWARDS GRANTED DURING YEAR
THAT REMAINED UNVESTED AS OF
LAST DAY OF YEAR FOR MR. BERGH
($)		  CHANGE IN FAIR VALUE FROM LAST
DAY OF PRIOR YEAR TO LAST DAY
OF YEAR OF UNVESTED EQUITY
AWARDS FOR MR. BERGH
($)		  CHANGE IN FAIR VALUE FROM LAST
DAY OF PRIOR YEAR TO VESTING
DATE OF UNVESTED EQUITY AWARDS
THAT VESTED DURING YEAR
FOR MR. BERGH
($)		  TOTAL - INCLUSION OF
EQUITY VALUES FOR
MR. BERGH
($)
2023  8,810,937  (2,083,319)  536,240  7,263,858
2022  7,226,837  (13,434,058)  (4,390,382)  (10,597,603)
2021  12,996,411  13,445,458  1,166,447  27,608,316
    
Non-PEO NEO Average Total Compensation Amount [1] $ 12,641,859 3,661,501 4,553,330
Non-PEO NEO Average Compensation Actually Paid Amount [1],[2],[3] $ 11,084,803 (417,726) 6,965,116
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

 

             
YEAR  AVERAGE SUMMARY
COMPENSATION TABLE TOTAL
FOR NON-PEO NEOS
($)		  AVERAGE EXCLUSION OF
STOCK AWARDS AND OPTION
AWARDS FOR NON-PEO NEOS
($)		  AVERAGE INCLUSION OF
EQUITY VALUES FOR NON-PEO
NEOS
($)		  AVERAGE COMPENSATION
ACTUALLY PAID TO
NON-PEO NEOS
($)
2023  12,641,859  (8,612,826)  7,055,770  11,084,803
2022  3,661,501  (1,707,875)  (2,371,352)  (417,726)
2021  4,553,330  (1,633,689)  4,045,475  6,965,116

 

YEAR  AVERAGE YEAR-END FAIR VALUE
OF EQUITY AWARDS GRANTED
DURING YEAR THAT REMAINED
UNVESTED AS OF LAST DAY OF
YEAR FOR NON-PEO NEOS
($)		  AVERAGE CHANGE IN
FAIR VALUE FROM LAST
DAY OF PRIOR YEAR
TO LAST DAY OF YEAR
OF UNVESTED EQUITY
AWARDS FOR NON-PEO
NEOS
($)		  AVERAGE VESTING-DATE
FAIR VALUE OF EQUITY
AWARDS GRANTED
DURING YEAR THAT
VESTED DURING YEAR
FOR NON-PEO NEOS
($)		  AVERAGE CHANGE IN
FAIR VALUE FROM LAST
DAY OF PRIOR YEAR
TO VESTING DATE OF
UNVESTED EQUITY
AWARDS THAT VESTED
DURING YEAR FOR NON-
PEO NEOS
($)		  TOTAL – AVERAGE
INCLUSION OF
EQUITY VALUES FOR
NON-PEO NEOS
($)
2023  6,286,038  (222,757)  939,435  53,054  7,055,770
2022  605,030  (2,269,579)  0  (706,803)  (2,371,352)
2021  1,732,840  2,123,938  0  188,697  4,045,475
    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

 

 

PEO and Average Non-PEO NEO Compensation Actually Paid Versus TSR
(11/29/2020 Indexed to $ 100)

 

 

 

    
Compensation Actually Paid vs. Net Income [Text Block]

 

PEO and Average Non-PEO NEO Compensation Actually Paid
Versus Net Income

 

 

    
Compensation Actually Paid vs. Company Selected Measure [Text Block]

 

PEO and Average Non-PEO NEO Compensation Actually Paid
Versus Adjusted EBIT

 

 

    
Total Shareholder Return Vs Peer Group [Text Block]

 

PEO and Average Non-PEO NEO Compensation Actually Paid Versus TSR
(11/29/2020 Indexed to $ 100)

 

 

    
Tabular List [Table Text Block]

The following table presents the financial performance measures that the Company considers the most important in linking Compensation Actually Paid to our PEO and other NEOs for 2023 to company performance. The measures in this table are not ranked.

 

PERFORMANCE MEASURES
Adjusted Earnings Before Income and Taxes (EBIT)
Net Revenues
Cash Conversion Cycle
    
Total Shareholder Return Amount [4] $ 85.76 86.99 143.37
Peer Group Total Shareholder Return Amount [4] 52.63 67.28 113.04
Net Income (Loss) Attributable to Parent $ 249,600,000 $ 569,100,000 $ 553,540,000
Company Selected Measure Amount | $ / shares [5] 554.80 713.00 712.90
PEO Name Charles (“Chip”) V. Bergh Charles (“Chip”) V. Bergh Charles (“Chip”) V. Bergh
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted Earnings Before Income and Taxes (EBIT)    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Net Revenues    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Cash Conversion Cycle    
PEO [Member] | EXCLUSION OF STOCK AWARDS AND OPTION AWARDS      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (11,949,250) $ (10,799,892) $ (10,140,242)
PEO [Member] | INCLUSION OF EQUITY VALUES      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 7,263,858 (10,597,603) 27,608,316
PEO [Member] | YEAR-END FAIR VALUE OF EQUITY AWARDS GRANTED DURING YEAR THAT REMAINED UNVESTED AS OF LAST DAY OF YEAR      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 8,810,937 7,226,837 12,996,411
PEO [Member] | CHANGE IN FAIR VALUE FROM LAST DAY OF PRIOR YEAR TO LAST DAY OF YEAR OF UNVESTED EQUITY AWARDS      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,083,319) (13,434,058) 13,445,458
PEO [Member] | CHANGE IN FAIR VALUE FROM LAST DAY OF PRIOR YEAR TO VESTING DATE OF UNVESTED EQUITY AWARDS THAT VESTED DURING YEAR      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 536,240 (4,390,382) 1,166,447
Non-PEO NEO [Member] | AVERAGE EXCLUSION OF STOCK AWARDS AND OPTION AWARDS      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (8,612,826) (1,707,875) (1,633,689)
Non-PEO NEO [Member] | AVERAGE INCLUSION OF EQUITY VALUES      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 7,055,770 (2,371,352) 4,045,475
Non-PEO NEO [Member] | AVERAGE YEAR-END FAIR VALUE OF EQUITY AWARDS GRANTED DURING YEAR THAT REMAINED UNVESTED AS OF LAST DAY OF YEAR      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 6,286,038 605,030 1,732,840
Non-PEO NEO [Member] | AVERAGE CHANGE IN FAIR VALUE FROM LAST DAY OF PRIOR YEAR TO LAST DAY OF YEAR OF UNVESTED EQUITY AWARDS      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (222,757) (2,269,579) 2,123,938
Non-PEO NEO [Member] | AVERAGE VESTING-DATE FAIR VALUE OF EQUITY AWARDS GRANTED DURING YEAR THAT VESTED DURING YEAR      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 939,435 0 0
Non-PEO NEO [Member] | AVERAGE CHANGE IN FAIR VALUE FROM LAST DAY OF PRIOR YEAR TO VESTING DATE OF UNVESTED EQUITY AWARDS THAT VESTED DURING YEAR      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 53,054 $ (706,803) $ 188,697
[1] Charles (“Chip”) V. Bergh was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below.
[2] Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
[3] The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the company’s NEOs. These amounts reflect the Total column set forth in the Summary Compensation Table with certain adjustments as described in footnote 3 below.
[4] The Peer Group TSR set forth in this table utilizes the S&P 500 Apparel, Accessories and Luxury Goods, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the fiscal year ended November 26, 2023. The comparison assumes $100 was invested for the period starting November 29, 2020, through the end of the listed year in the company and in the S&P 500 Apparel, Accessories and Luxury Goods, respectively. Historical stock performance is not necessarily indicative of future stock performance.
[5] We determined Adjusted EBIT to be the most important financial performance measure used to link company performance to Compensation Actually Paid to our NEOs in 2023. This performance measure may not have been the most important financial performance measure for years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.