Ralph Lauren announced on Tuesday it would close its flagship Polo store in New York in less than two weeks.
The Fifth Avenue location is one of dozens of stores the company will shutter in an effort to cut costs and improve efficiency.
In the last quarter, same-store sales declined 5% compared with the same period in 2016.
The brand is struggling to connect with millennials, stay relevant, and keep up with fast-fashion brands like H&M, Uniqlo, and Zara.
We visited Ralph Lauren's Polo store on Fifth Avenue on Tuesday. It was full of unfashionable clothes and lacked shoppers despite being on one of the busiest streets in New York. Take a look inside:
Here's my opinion of why business is in trouble.
Ralph Lauren's Polo flagship is at 711 Fifth Ave., next to stores like Gucci and Armani. This strip of Fifth Avenue is one of the most exclusive shopping spots in the world.
The Polo brand is known for its signature preppy style, which was on full display in a storefront window.
But the display was drab and had a washed-out feel to it. Nothing stood out.
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