Ralph Lauren is getting decimated after announcing layoffs, store closings, and weak guidance (RL)

Ralph Lauren shares fell 9% in premarket trading on Tuesday after the company announced job cuts, store closings, and a forecast for lower revenues.
In a statement, the luxury-fashion retailer said it expected a low-double-digit decline in fiscal-2017 net revenues because of the closings, which come as fewer people shop at many traditional brick-and-mortar retailers.
The Wall Street Journal earlier reported that the company planned to lay off up to 1,000 workers, or about 8% of its full-time sta