You're definitely on the money with Saks, they started off real bad and the store's performance improved to a point where it was making some pretty slight positive margins (but not to the point of bragging about it). Of course now they're back to losses which makes sense with the current situation.From my understanding, Sak's Queen got off to a rough start, but ultimately performed pretty well, pre-Covid.
But obviously the extended lockdown, and low traffic levels downtown have hurt results there again.
That said, I completely agree that converting the Bloor store to Sak's was the way to go.
Instead, they not only let the Bloor store rot, they diminished one of the top performing Bay stores in Queen Street.
Make no mistake they would've been making a lot more had they located the store at Yonge and Bloor.
But you pretty much summarized it: they let the Bloor Bay store rot to the point of no return, while screwing up the Queen St. Bay location. Then compounding it by leaving money on the table by locating the Saks where they did.