Bergdorf's or Bloomie's? Navigating Summer's Department Store Sales

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And you thought that the Fourth of July weekend was a bad time for your wallet. The discounts are only getting deeper at New York City's high-end department stores, according to Madison Avenue Spy: Both Barney's and Bergdorf's have jacked up their markdowns to 75% off retail prices, and we were pretty impressed when things were just up to 60% off last week, though that discount typically applied to just apparel, not shoes or bags.

But if Sample Sally is to be believed, neither of these well-regarded stores is the best place to score deals right now. A source for the local shopping blog writes that there's a "Mystery Money" sale taking place right now where you can snag an extra 20%, 30%, or 40% off already-reduced prices. "I was one of the lucky few to get 40% off so I have gotten some great steals in the past week since the sale started," he reports. "I got an Alexander McQueen MCQ leather biker jacket for $135 from $1,500...Gucci crystal sneakers for $324 from $900, and a lot of Burberry items, including a zip-up sweater for $65. Ferragamo is also included in the sale, so I would definitely take advantage of it.

"You can get some great stuff at dirt cheap prices," he concludes, adding that he considers Bloomingdale's to have the best deals over all other New York City department stores. However, if you're looking for the highest of the high-end—think Chanel, Christian Louboutin, Saint Laurent, Balenciaga, and such—you won't find it there.

Plan on hitting up any department stores this week? Let us know what you find (and how much you saved off retail) in the comments section.