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Ralph Lauren to cut jobs, close flagship Polo store in New York

Ralph Lauren will cut jobs at its flagship New York store.
A close up picture shows the label of U.S. fashion designer Ralph Lauren inside a jacket at a fashion shop in Frankfurt, Germany.

(Reuters) - Ralph Lauren Corp <RL.N> said on Tuesday it would cut jobs and shutter some office and store locations, including its flagship Polo store on Fifth Avenue, New York City, as part of a cost-cutting plan.

The company said it expects to incur about $370 million in charges related to the plan, which was announced in June.

 

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D'Couto)