A company partly owned by Honolulu-based Matson Inc. that handles shore-side cargo at several mainland ports will add another port to its business next year.

Matson announced Tuesday that the company, SSA Terminals, will replace another firm that provides stevedoring and terminal services at the Port of Tacoma in Washington when a contract with another firm, APM Terminals, expires Dec. 31.

Ron Forest, senior vice president of operations for Matson, said in a statement that APMT served Matson well but that it makes more sense to work with SSAT and that a seamless transition for customers is expected.

Matson owns a 35 percent stake in SSAT, which provides cargo terminal services at six West Coast ports, including three visited by Matson ships (Seattle; Long Beach, Calif.; and Oakland, Calif.).

Ralph Lauren closing Fifth Avenue Polo store

NEW YORK >> Ralph Lauren Corp. said Tuesday it is shuttering its high-profile Polo store on New York’s Fifth Avenue, less than three years after opening it.

The closure, which will happen later this month, is part of the New York fashion company’s plan to save $140 million annually. The company said it will close other stores, cut jobs and shut some corporate offices, but did not provide details.

The company is trying to turn around its business in the face of falling revenue. Like other traditional brands, Ralph Lauren has been hurt by sluggish performance at major department stores as shoppers increasingly skip the mall and shop online.

CEO Stefan Larsson, who was hired less than two years ago to revive the brand, is leaving next month. The company’s chief financial officer, Jane Nielsen, will lead the company until a successor is found.

The three-story Fifth Avenue store was opened in late 2014 as a home for Ralph Lauren’s Polo brand clothing. Soon after, the company opened the nearby Polo Bar Restaurant, which it will continue to operate.

ON THE MOVE

Hilton Hawaiian Village Waikiki Beach Resort has announced that Brooke Tadena has been promoted to executive sous-chef. He has been in the food-and-beverage and culinary industry for 29 years, having previously served as an executive banquet chef at the Hilton Hawaiian Village.

Central Pacific Bank has promoted the following two employees:

>> Michael Waring to senior vice president, division manager of consumer lending. Waring has been with the bank since 1996 and was previously a vice president and indirect consumer portfolio manager.

>> Lance Oribio to vice president, senior manager of HELOC. Oribio has more than 20 years of finance and banking experience, including working for Central Pacific Bank since 2010, and was previously a vice president and consumer loan product manager.

CBRE has named Gina Iverson managing director for asset services for the Hawaii market. She was previously operations regional director for asset serv­ices in the Western Division for CBRE.