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The discounts are coming! Our Saks Fifth Avenue informant tells us that today is the day for the first reductions on fall merchandise—40% off all those early fall deliveries you've had your eyes on. Don't wait too long for further discounts, though—we're told what doesn't sell is getting shipped to outlets. We guess designers didn't love the idea of their $2000 dresses languishing on clearance racks for months and months. And take heed, once the prices fall at one department store, you'll find similar deals at the others. [RackedWire]

Saks Fifth Avenue

611 5th Avenue, Manhattan, NY 10022 (212) 753-4000 Visit Website