Ralph Lauren Has A $1.8 Billion Department Store Problem

One of the biggest factors behind Ralph Lauren’s sales problem has been department stores’ ongoing slump and inability to lure shoppers inside. The fashion brand, which this week announced a $400 million comeback plan that will reportedly include closing 50 stores and cutting 1,000 jobs, gets 24% of its annual sales from department stores, with Macy’s by far its biggest account. That means $1.8 billion of Ralph Lauren’s annual sales come from stores like Macy’s, Nordstrom, and Belk, which are all struggling with quarter after quarter of declining same-store sales, creating a domino effect on the fashion brand. Read more at Fortune.