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Analysis: Is Ralph Lauren Corp. moving away from luxury?
Ralph Lauren Corp. made headlines with its June 7th announcement that it planned to close 50 stores and lay off 1,000 employees as part of a restructuring in response to lower sales. The announcement didn't go into specifics about the luxury brand’s plans to correct its course. But some industry insiders speculate that the background of Ralph Lauren CEO Stefan Larsson, who took the reins of the company in September, holds the key. -
Macy’s CEO Terry Lundgren to step down
Macy’s longtime CEO, Terry Lundgren, will step down in the first quarter of 2017, to be succeeded by a company veteran. Lundgren, who has been CEO of the department store giant since 2003, is stepping down as the retailer finds itself challenged with a transformed retail landscape and changing consumer demands. He will be succeeded by Jeff Gennette, 55, who was named president of Macy’s in 2014 after serving as chief merchandising office since 2009.
