Ralph Lauren is also trying to boost its e-commerce presence by relaunching its store on a new platform to "deliver a more consistent customer experience across the global digital ecosystem".
The remaining product at the 711 Fifth Avenue store will be moved to the 867 Madison Avenue flagship and other NYC area stores. Ralph Lauren declined to say how many jobs were affected and said the cuts account for a small fraction of the charges.
As for the Polo store, Ralph Lauren's chief financial officer, Jane Nielsen said in a statement that the closing was aimed to free up the company to explore other retail concepts and hinted that its Ralph Coffee cafe as one idea that could be expanded. The company has struggled with revenue and same-store sales recently.
These moves are expected to save Ralph Lauren approximately $140 million, which is in addition to the $180 to $220 million in savings due to other cuts the company made a year ago, when it said it would eliminate 1,000 jobs and close 50 stores.
Tiffany said last month that sales in its NY flagship store declined 11 percent for the full year, including a 7 percent drop in the fourth quarter. In a public filing on Tuesday, the company planned to close an unspecified number of stores, close a certain corporation operations and reduce workforce.
Sena MP assaults Air India staffer, FIR filed He said his office had booked a business class seat for him on a Pune-Delhi flight, and he was angry when he failed to get one. The second FIR is for delaying a scheduled New Delhi-Goa flight with 115 passengers, owing to his behavior onboard.
The news comes two months after Ralph Lauren's chief executive, Stefan Larsson, announed his resignation - after just two years on the job - over differences with the namesake founder of the iconic brand.
Ralph Lauren shares fell almost 4 percent Tuesday to $78.22.
Other changes could include new retail concepts and new store formats created to bring in both old and new customers, the company says.
The restructuring plan is part of the company's Way Forward Plan that's been around since last June.
How that affects the Polo Ralph Lauren Factory Store at Williamsburg Premium Outlets, if at all, is not clear. It opened the first of those locations in its Polo flagship in 2014.
Earlier Thursday, Lindsey Graham of SC also signaled that he's willing to confirm Neil Gorsuch with a simple majority. He said, in choosing to oppose Gorsuch's nomination, Casey is directly disrespecting the will of Pennsylvania voters.
The Supreme Court's decision on Wednesday sends the case back to the appeals court to decide in light of its decision. Douglas County School District, which pitted the parents of a Colorado boy with autism against their school district.
The other issues the first cabinet may take up include increased power supply to farmers and an ordinance for slaughterhouses. Farmers of Uttar Pradesh may get major relief as the government has made a decision to waive off 1.5 crore agriculture loans.
It's only half-way through the series we find out how he creates his iron fist or understand more of the legend. It's hard to get past one question: What did Danny Rand do to deserve the power of the Iron Fist?
But Apple wants to roll them into a single package that it would market as a standalone product for Apple TV and iOS devices. Subscribers could then view content from the three premium TV channels via their Apple TV set-top box, iPhone or iPad.
As a powerful storm system swept across Texas , storm chasers raced to record its fury and witness a tornado. Both Saturday and Sunday are forecast to be very nice, with lower humidity, and plenty of sunshine.
It is meant to identify countries the White House considers to be big cheaters in trade deals with America, NBC News reported. The second order seeks better collection of anti-dumping and countervailing duties, local US media reported.
Arrow intercepted a Syrian missile last month in the system's first operational use in its 17 years of existence. -Gen. The ceremony was also attended by US Vice Admiral James Syring, the head of the American Missile Defense Agency.
At times, she appears to be wearing very little other than a robotic flesh-colored and human-shaped outer shell. In this aspect, Scarlett Johansson was flawless for the role of Major with her comic book/action experience.
The Warriors were glad the injury to Durant wasn't as serious as it originally looked. "Great player. ESPN reported Wednesday that Durant could return for the final three games of the regular season.
Phew, Bob Dylan Finally Got His Nobel Prize
He had expressed awe at receiving the Nobel Prize and thanked the Swedish Academy for including him among the "giants" of writing. Taped Nobel lectures have been occasionally presented, most recently in 2013 by Canadian Nobel literature laureate Alice Munro .
Game to Run 4K on Project Scorpio; October Launch Date Outed?
Microsoft reportedly will reveal " Forza Motorsport 7 " to be the headline title for the device which rumored to unveil this week. It includes the games like " FIFA ", " Call of Duty ", " Madden ", "Red Dead Redemption 2", and " Battlefront 2".
Dishonored 2 Free Trial is Coming to Xbox One, PS4 & PC
Most of the fans of the previous game waited patiently for the game to come out, and when it did, they purchased it and played it. Three missions might not sound like a whole lot of content, but Dishonored 2 only contains nine missions in its entirety.
Indian Actress Is World's 2nd Most Beautiful Woman
In two years of her television career, Priyanka has been awarded the Best Actor trophy twice at the People's Choice Awards. Priyanka Chopra became a name to reckon with in the West after she landed the lead role in the TV series Quantico .
LeBron, Cavs end rough March with 122-105 win over 76ers
When the Pacers call timeout, the camera panned to Lebron James and Tristan Thompson in a very heated conversation. You just try to slow them down."These guys are multiple All-Stars and great players and you can't stop "em".
Nightclub Shooting Leaves One Dead And Others Injured
Authorities believe a conflict began earlier in the day that led to the shooting, city manager Harry Black said in a news release. The Cincinnati police are being helped with the investigation by the Bureau of Alcohol, Tobacco, and Firearms, reports WCPO .
5th annual light up blue for autism event held in Chicopee
The Walk for Autism-Athens will take place from 8 a.m. until noon Saturday, April 22 at Athens Stadium next to the high school. Autism Speaks and Gulf Coast School for Autism were at Margaritaville to bring autism awareness to the community.
NYC mayor endorses Rikers shutdown plan
To discuss the feasibility of the plan, Crain's New York Business reporter Rosa Goldensohn joins Hari Sreenivasan. Last year, LaGuardia served 30 million passengers, according to the Port Authority of NY and New Jersey.
"Europeans everywhere won't be safe in streets" - Erdogan
Erdogan, meanwhile, said his government would be "having a talk" with Europe after the April 16 referendum on presidential powers. Other EU countries, including the Netherlands, have had similar rows with Turkey, a candidate country for membership in the bloc.