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

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A close up picture shows the label of U.S. fashion designer Ralph Lauren inside a jacket at a fashion shop in Frankfurt, Germany, March 15, 2016. REUTERS/Kai Pfaffenbach (Copyright Reuters 2017)

Ralph Lauren Corp 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.

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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)