so this polo ralph lauren store here on fifth avenue is going to be closing on april 15th.en here on the bottom two floors of the coca-cola building for the last three years. now ralph lauren says that this is actually part of that 50 store closing plan that it announces last june. part of that way forward strategy, although ralph lauren says that ending this lease plus the addition of a commerce mr. chairman will save $140 million a year. that was above $220 million a year. the company says it plans to invest at least part of those savings in it's growth. and shares are down 5% today. so investors may not be cheering this move, they've been down about 18% since last june when the way forward plan was announced. and in the most recent quarter, comps had fallen 5%. now as of the most recent quarter ralph lauren still operates 485 stores and that does include the outlets and the club monaco stores. there are ten global flagships and still seven stores left here in new york city once this closes. but this location did certainly make a splash when the lease was signed in 2013 a

here on 5th avenue of the polo ralph lauren store.his has been occupying this space. ralph lauren says this is all part of the way forward plan announced in june 2016. as a refresher they said they would close 50 or more stores. they're going to be cutting jobs. the combination of these three new items will be an additional $140 million in cost savings. this is beyond the initial cost savings that were first laid out. the company says it will be reinvesting some of the savings into its growth. ralph lauren shares are down about 5% today, down about 18% since the way forward plan was announced last june. the ceo larsen officially vacates the position on may 1st. that was a surprise to investors when that was announced in february. and the company has yet to name his successor. now ralph lauren does still own and operate 485 stores that includes outlet and the club monaco locations. ten flagships and still seven stores in new york city after this closes including those iconic locations on madison avenue. but at the time that this lease

is that the future for ralph lauren? >> ralph coffee, their own blend of coffee.pany has been trying to figure out ways to leverage its brand in different ways, perhaps over different platforms, so many of the -- at least a possibility of doing something with it. we don't know what. that way forward plan had a lot of thins involved in it from job cuts to closures and realigning brands, restructuring, a lot going on there. we know they are continuing with the plan, you they also are going to be getting a new ceo at some point soon since we know mr. larson is leaving so maybe that changes. it's all tbd. >> all tbd. all right, thank you very much. ralph coffee. despite the troubles in retail, the next guest, though, still sees opportunity in the space, and we welcome to post nine today, first of ail, big picture. we are seeing a lot of retailers flailing about now, aren't we? suffering mightily herement what's going on? >> the valuation discrepancy is fascinating. look at the e-tailers, they get the market base on top line growth, irrespective of profitability. the b

vonnie: how long will investors you ralph lauren?hey get into trouble to see downgrades or increased selling? >> it is an excellent question. people were pretty jazzed about the ceo that has since left. ying whatare sa is next? who is going to take you from these promises of a turnaround to an actual turnaround? if we see multiple quarters of sales dropping with no improvement, that is going to cause this. vonnie: investors have not to want to talk about retailers. there seems to be a lot of vultures circling. metaphorically speaking. a tick up.ng are we at levels a company needs to be concerned about? namesph lauren, these are that have been floating around that there could be more activity around. this is a hurting industry. up in theey all end hands of various different venture capital firms? >> that is a big worry. we have seen all the retailers that have ended up in private equity folks have not done well. you looking at the biggest example being j.crew. you take on more debt. there is no end in sight where suddenly there will b

ralph lauren is closing its flagship store on 5th avenue.will move its stock from that store to the madison avenue location, which you see right there. it's another round of cost-cutting moves for the iconic american brand which closed 1,000 jobs and closed 50 stores back in june. investors don't like this news. the stock is down 5% right now for rl, ralph lauren. let's get to this breaking news. at the moment president donald trump is expected to attend a closed-door meeting with the administrator of the epa, putting in the limelight today calling on building trade unions to pressure congress to approve a massive one plus-trillion-dollar plan to rebuild america's crumbling roads and airports. here's what he said. >> we can rebuild our country's bridges, airports, seaports, and water systems. we will streamline the process to get approvals quickly so that long-delayed projects can finally move ahead. and with lower taxes on america's middle class and businesses, we will see a new surge of economic growth and development. liz: you know, that

another corporate leader feeling those challenges is 77-year-old ralph lauren.tut a ceo. he's part of a $317 million shakeup for his business. he's trying to refocus energy on ecommerce. he sees that as the opportunity. clearly another story that we're following today is the latest development in seattle about the fight between workers like uber and lyft. he would like to restrain a temporary halt on city drivers that allows the drivers to unionize. this is from a request from the u.s. chamber of commerce. although the temporary halt is not an indication of the future ruling, he would rule on this which is all wiabout the fight whether they should be treated as independent contractors or employees. >> live from london. thanks so much. >>> still ahead, tom costello breaks down the new law that has privacy advocates outraged. plus -- >> since taking office i've signed one action after another to eliminate job-killing regulations that stand in the way. i had a chart. is that chart around here someplace? could you bring me that chart please? do you mind? let me see

all the right things may not be enough at this moment for ralph lauren. can you keep a secret?ive below. this retailer understands the new generation of shopper. that's why despite the stock's recent run, it's got still more upside. much more "mad money" ahead. could a merger between disney and apple create a whole new world. a magic carpet ride then my exclusive with the ce of, to keep wup the boig big boys and a company that works with nike, barclay, toyota. it's a fast grower. stick with cramer. if you're gonna catch dom, then you're gonna need a little help. i'm in love. [ hip hop music playing] [ grunt ] rubber bullets. big mistake. ahhh! that was a little aggressive. [ hip hop music continues ] oh, damn. no, no, no, no, no! you lovin' that lambo now? woo! ahhh! experience it in imax. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. ♪ say hello to at&t's best, unlimited data deal and never pay ov

ralph lauren has several other stores in new york city.tartups and cheaper rivals. >>> sarah rob ohagen is the most creative people in business. she is known for 5:00 a reinventer of brands. beyond her accomplishmentes at nike and virgin atlantic, she led the turn around of gatorade's $5 billion business. and helped reinvent the fitness company equinox. she is the ceo of fly wheel sports. she draws from experiences in her new book "extreme you: step up, stand out, kick ass, repeat" she gives advice on how to tap into your true potential and become the best version of yourself. she joins us at the table. sarah, so good to have you here. lot of cover. i love the story. take us through. the beginning of the book you talk about what really kind of inspired you. you were giving a speech at a harvard conference. what happened? >> yeah. i was giving a speech. and the young lady was reading out my bio. it is all the great accolades like you just read out. i started squirming in my chair going this isn't the full truth. and i wasn't always this per

to put that in perspective, that's nearly as much mark cap in a week as ralph lauren as a company is worth. or it's the total market cap of kohl's as well. if you think that's impressive, try the 20% in the stock this year. >> that translates into a whopping $71 billion in added market value or like roughly adding the size of american express. but can that run last? according to facts that 89% of analyst versus a buy ring on the stock and the remainder 11% have a hold. the average target price is 8% amove where we are now. after a listering run like this, there are a few traders feeling more cautious about more potential upside, melissa, the stock has reached what some say overbought levels or upside in a relatively short amount of time. >> that doesn't happen very often statistically speaking. amazon the debate going forward, guys, back to you. >> thank you, dom, dom chu. you have gains of a stock looking to buy. mike has a way to do that with less. he is over on the plaza. we look at the stock with strategy. >> sure thing. this is still a bullish strategy. it's a more conservative

. >>> ralph lauren is cutting jobs and closing its flagship store on fifth avenue in new york city t. fashion retailer also plans to restructure its digital operations. it's unclear how many positions will be affected t. company says the moves are an extension of the cost savings plan announced next kumer. shares fell to 77.74. >>> the drug for treating involuntary movement disorder associated with huntington's disease has been approved by the fda. this is only the second product to prove the disorder and shares fell nonetheless 19 vents to $32 on the button. >>> the furniture and electronics retailer con said it helped unadjusted profits. they did post lower revenue good enough to impress investor, shares of khan's climbed to $10.90, the electric and lighting maker acuity brands said weak demand, particularly in north america, caused the company to report praufrdz sales of disappointed, they said it still sees long-term growth opportunity to net market. shares fell, down nearly 15% to 173.93. >>> tax day is fast approaching, two weeks away. no one wants to get an audit. nerd wallet p

again like the ralph lauren you can't miss. elle brands downgrade, bath and body works, victoria's secret are not working. what works, capital equipment and the mondelez their five-year plan is committed. [ cheers and applause ] i think they'll be able to show some mild organic growth. might be an interesting place to go. >> okay, let's get to the s&p at the bottom of your screen and the opening bell here at the big board as jim said earlier, ringing the bell here it's coal producer peabody energy, celebrating its emergence from bankruptcy and the resumption of trade. [ bell ringing ] undertake btu at the nasdaq, abraxas petroleum natural gas exploration and production company. >> btu is really the theme here, this cat move, this is about industrial materials, freeport stay of execution in indonesia obviously versus the consumer names which are not doing that well, and then nvidia, i feel some of the charters are saying you got to sell this. mark chakin says you have to sell. it's a stock that has been a test of the nasdaq, so

to put that in perspective, that's nearly as much market cap in a week at all of ralph lauren as a company is worth or it's about as much as the total market cap of kohl's as well and if you think that's impressive, try the near 20% gain in the stock just in this year. that translates into a whopping $71 billion in added market value or like roughly adding the size of american express. but can that run last? according to fact set, 89% of analyst haves a buy rating on the stock and the remainder 11% have a hold. the average target price is just 8% above where we are now, so after a blistering run like this, there are at least a few traders who are feeling more cautious about more potential upside. melissa, this stock has reached what some call over bought levels or upside in a relatively short amount of time. that doesn't happen very often, statistically speaking, so amazon perhaps one of those trades for debate going forward, guys. back to you. >> thanks, dom. you got gains in the stock are looking to buy, mike's got a way to do that for less. he's at the plaza with his call to action. >>

. >>> ralph lauren will close the store on 5th avenue. years ago as a home for the polo br d brand. the closure is part of the restructuring plan to save $140 million a year. the store closed in center city last month. the store was at bellevue and broad on walnut street for 27 years before it closed. >>> disney's "frozen" is a fan favorite still after all this time among kids everywhere. >> i'm hearing that song in my head. there's a viral video of two toddlers that's proof that can't be too young to be obsessed with the kids' musical. >> already showing signs of a future in hollywood. it's had more than 48 million views. the girls have seen the movie so times they can act out the scenes without watching the screen. the mom says she never thought it would go viral. . a lot of love right there in the room too. >> elsa would be so proud. >>> several new stories for 5 0 5:00. >> we'll turn it over. >> all new at 5:00, what we're about to tell you could alter the next trip to the shore. >> a bridge closed until further notice. what caused th

you have ralph lauren this week.ere are we -- what inning in the game are we in store closures? is this fifth, sixth, first, second? >> look, everyone knows we're a little overretailed. that's been developing over time and there's a shift to e commerce. some of this is a natural happening. but you get into the b.a.t. tax that we talked about a second earlier. you want to tax a business that's struggling? what do you think the result is that going to be? it will be a disaster. >> unless the dollar appreciates by the same amount. >> come on. i'm an economist too. you believe that? i always bought my goods in china -- >> that's what you hear. >> you hear a lot of things. i said that the chairman of the house ways and means committee, brady, was on cnbc was on other day. a very impressive interview he's changing his dialogue. he was talking ago the border adjustment tax with modifications. i don't know if your viewers fully understand what this border adjustment tax would do to retail. it's crazy and i can sum it up in o

. >>> cutbacks are coming to ralph lauren as well. today the upscale fashion retailer said it will cut jobs and close its polo store in new york city. it will shut down other stores in addition to the 50 store closures announced earlier this year. >>> and ups is now planning to start saturday deliveries after a test period in just a few cities last year. the change is now going nationwide. it is also going to create jobs, 6,000 new ones by the end of next year. saturday delivery is expected to officially begin in a few weeks. >> april is distracted driving awareness month and a new ad campaign is driving the point home about the dangers of texting behind the wheel. >> she was such an eager -- >> frightening. a portion of the one of new grim ads by the traffic agency. more than 2800 people were killed and 391,000 injured in motor vehicle crashes involving distracted drivers. >> the future is secure for now for a one-room schoolhouse in the north bay. last night the school for the 121 year old union school in petaluma agreed to consolid

ralph lauren closing a flagship store there, a couple stores down from trump tower.e'll get his take on where he sees retail headed next. >>> a run-up in rates and a run-down. the dollar index intraday is at some of the best intraday levels since mid-march. kind of like yesterday never existed. r-10s, we're holding the bottom of the range. the french 10s, they have elections. it looks a little bit more on the weak side, so say traders. so do the guilts hovering at 110. seems everybody's pretty bullish on everything, even in the u.s. >>> moments ago, chinese president xi jinping arrived in west palm beach, this for the first face to face meeting with president trump in west palm beach. again, they arrived at an air china fleet, a 747. we are awaiting that door to open where xi jinping and his entourage should be exiting the plane. a very brief visit, guys. 25-hour visit. literally more time in the air than on the ground for the meeting. still, arguably the most important meeting in president trump's young term. >> president trump isn't there yet. we expect him in just

ralph lauren is getting bigger on digital and the cloud and it is a shakeup.t down there flagship store, revamped, and cut jobs. the move follows the sudden resignation of the ceo of the company in february. and that is your business flash update. we want to stay on retail. the tax code rewrite could replace the 20% tax on business domestic sales. retailers, shoemakers, automakers and others will be the most affected. they are gearing up for a fight. it's one of the many topics we will be discussing today. joining us now is joe weisenthal. it is more paul ryan's plan than anything else, the white house has not come down on either side of it. joe: one of the questions is, what does the white house want? trump has talked about having a great plan, but beyond that, nobody is really sure. paul ryan seems to want to do fundamental reform, but something that would be revenue neutral and change the nature of the tax code or border adjustment tax would theoretically be the way to get there. the problem is, it hurts people on both sides of the aisle. joe: someone has t

. >> doc, ralph lauren. do you have unusual there too? >> we did.d when they announced the closure of that store, one of many they're closing, but this one, flagship. just a horrific lease. it had only been there two or three years, i believe. they had a 15-year lease. they'll buy their way out of it. stock crated down, but back through $81. >>> more "halftime" straight ahead. yes? please repeat the objective. ♪ thrivent mutual funds. managed by humans, not robots. before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds.com. briathe customer app willw if be live monday. can we at least analyze customer traffic? can we push the offer online? brian, i just had a quick question. brian? brian... legacy technology can handcuff any company. but "yes" is here. you're saying the new app will go live monday?! yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. report. we are watching the 10-year yield hovering just around

ralph lauren, cutting offices and some stores and jobs.ck is down 3%. >>> kate spade says it needs more time to consider the buyout bid from coach. needs more time. oh, down 15%. >>> staples is exploring a sale possibly to a private equity organization. that is putting the stock up to 13%. >>> new poll, it is from pugh, reputable organization. 58% say their view of the economy is very, or somewhat good. that is the best response, the best level since the financial crisis. i have to say this is trump optimism liz e. liz: it is gotten out of humorless frozen party of democrats know how to regulate the country. the regulatory state suppressed optimism, suppressed optimism for the last eight years. they have never seen this jump ever in history of doing this polling. it is up, double-digit spike in confidence and optimism. stuart: just over the past year. liz: just the past year. what the non-partisan pugh is sayingentially people are feeling better. american pple out there, trump voters are sayg enou with the russian meddling story. you haven

ralph a bloody passenger being dragged off a plane. the airline announced they have reached a settlement with the kentucky doctor. they're also making big changes as well. fox's lauren l has the latest. >>reporter: the cellphone video of dr. david do you being dragged off his flight by law enforcement when he refused to give up his seat turned into a public relations disaster for the carrier. united announcing just this afternoon the airline resolution. they have agreed to keep the settlement confidential. doctor do you has become the unintended championor the adoption of chaijs will certainly improve the lives of literally thousands of changes. the backlash over the way the situation was handled lead united executives to announce a series of changes to ensure the travelling public that the incident would never happen again. united putting forth a tote l afl ten new steps the company will start using immediately including limiting the use of law enforcement to safety and security issues only establishing a customer solutions tell. to provide agents with creative solutions. assuring that crews will be booked on a flight at least one hour prior to departure reducing t