Saks Fifth Avenue is coming to the Eaton Centre. Well, almost. Technically set to open across the street at Yonge and Queen, with the announcement that Hudson's Bay has sold its flagship location to Cadillac Fairview, operator of the neighbouring mall, it's about as close to being a part of the Eaton Centre as you can get. The Bay will lease back its retail space for a minimum of 25 years as part of the deal.

Previously, HBC planned to open a Saks flagship store at Yonge and Bloor and was considering locations at Sherway Gardens and Yorkdale Mall, but there hadn't been much speculation about a downtown store. It's unclear how Saks will split space with the existing Bay, but the future location has been described as "full-service." With recent news that Nordstrom is set to revitalize the soon-to-close Sears space at the north end of the mall, a major injection of US retail is on its way for the Eaton Centre.