All-American Designer to Close Fifth Avenue Flagship Store

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As part of a cost cutting plan American designer Ralph Lauren Corp announced plans to cut jobs and close the flagship store on New York’s Fifth Avenue.

The company will also close other office and store locations in an effort to lower costs.

Ralph Lauren is just one of several higher end fashion brands that are seeing sluggish sales as American’s tighten their purse strings when it comes to splurging on luxury items.

The brand is also looking to revamp its e-commerce, shifting its digital operations to the more affordable Salesforce.com’s Commerce Cloud.