Ralph Lauren to cut jobs, close flagship Fifth Avenue Polo store

April 4 (Reuters) - Ralph Lauren Corp said on Tuesday it would cut jobs and shut its flagship Polo store on Fifth Avenue in New York City, among other office and store locations, as part of a cost-cutting plan.

The luxury retailer also said its e-commerce business would move to Salesforce.com Inc's cheaper and more efficient Commerce Cloud platform.

Ralph Lauren had said last year it was building an in-house global e-commerce platform.

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The New York-based retailer also said on Tuesday that it would integrate its products from the Fifth Avenue store into the Ralph Lauren men's and women's flagship stores on Madison Avenue and its downtown locations.

Ralph Lauren said it expects to incur about $370 million in charges and save about $140 million from the new measures, which are part of a cost-cutting plan announced in June.

RELATED: See photos of the iconic designer through his life

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Ralph Lauren through his life
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Ralph Lauren through his life
circa 1970: Portrait of American fashion designer Ralph Lauren, wearing a checkered vest and striped shirt, smiling and snapping his fingers. (Photo by Jack Robinson/Hulton Archive/Getty Images)
American fashion designer Ralph Lauren smiles outdoors with his wife Ricky, 1970s. (Photo by Susan Wood/Getty Images)
As their chauffeur holds the door open, American fashion designer Ralph Lauren (right) and his wife, therapist Ricky Lauren, smile as they get out of a limosine, New York, November 1977. The pair were on their way to a charity event held at the Guggenheim Museum. (Photo by Susan Wood/Getty Images)
American fashion designer Ralph Lauren (right) and his wife, therapist Ricky Lauren, smile in the backseat of a limosine, New York, November 1977. The pair were on their way to a charity event held at the Guggenheim Museum. (Photo by Susan Wood/Getty Images)
American fashion designer Ralph Lauren on the catwalk after his fashion show, USA, circa 1995. (Photo by Rose Hartman/Archive Photos/Getty Images)
Ricky Lauren and Ralph Lauren during 1987 Council of Fashion Designers of America Awards at Metropolitan Museum of Art in New York City, New York, United States. (Photo by Ron Galella, Ltd./WireImage)
UNITED STATES - JUNE 14: Fashion designer Ralph Lauren arriving at the Sony Lincoln Square Theater for the premiere of 'Batman.' (Photo by Richard Corkery/NY Daily News Archive via Getty Images)
NEW YORK, UNITED STATES: Fashion designer Ralph Lauren receives applause from models and guests after the showing of his Fall 1997 Collection 09 April in New York. Over 50 designers are showing their latest fall fashions through 11 April in New York. AFP PHOTO Jon LEVY (Photo credit should read JON LEVY/AFP/Getty Images)
NEW YORK, UNITED STATES: Designer Ralph Lauren waves to those attending his Fall 2004 fashion show in New York 13 February, 2004. AFP PHOTO/Don EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)
NEW YORK, UNITED STATES: Designer Ralph Lauren (C) receives applause from models after his fashion show 04 November in New York. The show is part of the Fashion Week Spring 1999 Women's Collection. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)
MILAN, ITALY - SEPTEMBER 23: Ralph Lauren and his wife Ricky attend the opening of the new Milan Ralph Lauren store at Via Montenapoleone on Septmber 23, 2004 in Milan, Italy. (Photo by Giuseppe Cacace/Getty Images)
NEW YORK - SEPTEMBER 15: Designer Ralph Lauren walks down the runway at the Ralph Lauren Couture Spring 2005 fashion show during the Olympus Fashion Week Spring 2005 September 15, 2004 in New York City. (Photo by Mark Mainz/Getty Images)
Ralph Lauren, designer with Ricky Lauren during Olympus Fashion Week Spring 2006 - Ralph Lauren - Runway at The Annex in New York City, New York, United States. (Photo by Randy Brooke/WireImage)
New York, UNITED STATES: Designer Ralph Lauren waves after his men's wear Fall 2006 Fashion show 06 February 2006 in New York. It was the first time in 30 years that Lauren had shown men's clothing in the New York shows. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)
NEW YORK - FEBRUARY 10: Designer Ralph Lauren walks the runway at the Ralph Lauren Fall 2006 fashion show at Skylight Studios during Olympus Fashion Week on February 10, 2006 in New York City. (Photo by Scott Gries/Getty Images)
Ralph Lauren, designer during Mercedes-Benz Fashion Week Fall 2007 - Ralph Lauren - Runway at Skylight Studios in New York City, New York, United States. (Photo by Randy Brooke/WireImage)
NEW YORK - JUNE 4: Designer Ralph Lauren and Television talk show host Oprah Winfrey pose inside during the 25th Anniversary of the Annual CFDA Fashion Awards held at the New York Public Library June 4, 2007 in New York City. (Photo by Evan Agostini/Getty Images for CFDA)
Designer Ralph Lauren waves at the conclusion of his Fall 2008 women's fashion show during Fashion Week in New York on February 8, 2008. AFP PHOTO/ Nicholas ROBERTS (Photo credit should read NICHOLAS ROBERTS/AFP/Getty Images)
NEW YORK - SEPTEMBER 12: Designer Ralph Lauren on the runway at the Ralph Lauren Spring 2009 fashion show during Mercedes-Benz Fashion Week at Skylight Studio on September 12, 2008 in New York City. (Photo by Fernada Calfat/Getty Images for IMG)
NEW YORK - FEBRUARY 20: Designer Ralph Lauren on the runway at the Ralph Lauren Fall 2009 fashion show during Mercedes-Benz Fashion Week at Skylight Studio on February 20, 2009 in New York City. (Photo by Fernanda Calfat/Getty Images for IMG)
NEW YORK - JUNE 2: Fashion designer Ralph Lauren (L) and wife Ricky Lauren attend the Gordon Parks Foundation's Celebrating Fashion Awards Gala at Gotham Hall June 2, 2009 in New York City. (Photo by Mike Coppola/Getty Images)
NEW YORK - SEPTEMBER 17: Designer Ralph Lauren walks the runway the at Ralph Lauren Spring 2010 fashion show at Skylight on September 17, 2009 in New York City. (Photo by Fernanda Calfat/Getty Images for IMG)
French President Nicolas Sarkozy (L) offers a bouquet of roses to Ricky (R), wife of US fashion designer Ralph Lauren (C) after a ceremony where Ralph Lauren was awarded Knight in order of honor by French President Nicolas Sarkozy, during a ceremony at the Elysee Palace in Paris on April 15, 2010. AFP PHOTO POOL FRANCOIS MORI (Photo credit should read FRANCOIS MORI/AFP/Getty Images)
Designer Ralph Lauren (R) greets a guest at the Ralph Lauren Fall 2011 fashion show during Mercedes-Benz Fashion Week at Skylight Studio on February 17, 2011 in New York City. (Photo by Gilbert Carrasquillo/FilmMagic)
NEW YORK, NY - FEBRUARY 16: Designer Ralph Lauren and Ricky Lauren walk the runway at the Ralph Lauren Fall 2012 fashion show during Mercedes-Benz Fashion Week at Skylight Soho on February 16, 2012 in New York City. (Photo by Frazer Harrison/Getty Images for Mercedes-Benz Fashion Week)
NEW YORK, NY - JUNE 03: Designers Vera Wang (L) and Ralph Lauren on stage 2013 CFDA FASHION AWARDS Underwritten By Swarovski - Show at Lincoln Center on June 3, 2013 in New York City. (Photo by Bryan Bedder/Getty Images for Swarovski)
NEW YORK, NY - JUNE 03: Designer Ralph Lauren attends 2013 CFDA Fashion Awards at Alice Tully Hall on June 3, 2013 in New York City. (Photo by Kevin Mazur/WireImage)
NEW YORK, NY - MAY 05: Designers Calvin Klein (L) and Ralph Lauren attend the Anna Wintour Costume Center Grand Opening at Metropolitan Museum of Art on May 5, 2014 in New York City. (Photo by Paul Zimmerman/WireImage)
NEW YORK, NY - SEPTEMBER 03: Designer Ralph Lauren attends the 2014 Couture Council Award Luncheon Benefit for the Museum at FIT honoring Carolina Herrera at the David H. Koch Theater at Lincoln Center on September 3, 2014 in New York City. (Photo by Neilson Barnard/Getty Images for FIT Foundation)
NEW YORK, NY - FEBRUARY 19: Designer Ralph Lauren attends the Ralph Lauren fashion show during Mercedes-Benz Fashion Week Fall 2015 at Skylight Clarkson SQ. on February 19, 2015 in New York City. (Photo by Mike Coppola/Getty Images for Mercedes-Benz Fashion Week)
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The retailer did not specify how many jobs it would cut.

Ralph Lauren said in June it would cut about 1,000 jobs and close 50 stores to lower costs and revive sales growth.

Ralph Lauren, like other luxury brands, has been struggling as Americans spend lesser on apparel and accessories, resulting in falling sales in the last seven quarters.

The company's margins have also taken a knock as department stores discount heavily to get rid of excess inventory.

Ralph Lauren's lower-end Polo and Lauren brands are facing competition from fast-fashion retailers such as H&M and Inditex's Zara.

Ralph Lauren's shares dipped 1.3 percent to $80.32 in early trade.

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

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