31 January 2015 (21:40 UTC-07 Tango 30 January 2015)/10 Rabi ‘ath-Thani 1436/11 Bahman 1393/12 Yi-Chou (12th month) 4712

Upscale Kate Spade announced it is shutting down all its two years old mid-scale Kate Spade Saturday women’s stores as well as all of its Jack Spade men’s stores!

Kate Spade will focus on its luxury elitist stores, Kate Spade New York, and sell its men’s line on the internet (they claim they’re going to sell specialized tailored men’s clothing over the internet as well).

Analysts say Xmas sales sucked so bad for Kate’s mid-scale stores that it’s proof the middle class doesn’t have any money to spend, that’s why Kate is now focusing on its rich elitist target audience.