Could one of Atlanta’s five Ralph Lauren locations be on the mega-retailer’s chopping block?
The designer’s company on Tuesday announced that it plans to close dozens of locations and layoff up to 1,000 employees in a bid to reverse a severe sales slide.
Which stores will bite the dust has not yet be revealed, but the high-end chain, known for its Polo-logo shirts, is well represented in metro Atlanta.
It has a boutique store at Lenox Square and locations at The Outlet Shoppes at Atlanta in Woodstock, The Tanger Outlet Center in Locust Grove and two stores at the North Georgia Premium Outlets in Dawsonville.
Like many retailers, Ralph Lauren has been facing increasing competition from online sales and changing consumer habits, including more interest in trendy, value-priced chains such as H&M.
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Ralph Lauren sales have fallen throughout fiscal 2016 and the company expects the restructuring to help in save $180 million to $220 million in annualized costs.
The company has close to 500 stores and employs about 26,000, according to reports.
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