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Merchandise is marked 60 percent off at the ultimo store in downtown san francisco, and it's not because of a post christmas sale.The high fashion store at 140 geary st.Will close on february 1.Corp., the Italian fashion company that owns the adjoining Jil Sander boutique, plans to take over the store space.Prada reportedly wants to combine the two stores and create an 8, 000 square foot jil sander superstore.Jil sander officials declined to comment on the report and terms of the deal., Ultimo Enterprises' sales promotion manager, said the move was necessary because it was too difficult for the store to compete with michael kors handbags nearby Neiman Marcus. "It's the location,"She said. "We have a strong manager there, a strong selling staff, a strong product, but the location is weak.It faces neiman marcus.And they're expanding. "Ultimo, which carries dolce gabbana, and chloe, among other top designer labels, also competes with.The store is unusual in that it has a walk through connection to the jil sander boutique, which was until recently owned by ultimo.The san francisco site is one of three ultimos in the country.Established ultimo in chicago 30 years ago and opened stores in dallas and san francisco in april 1997.The san francisco store has been the weakest of the three, farley said. "Overall, we're pleased with what's happening.We're looking at it as a positive more than a negative,"Says, manager of ultimo.She and her staff have been assured that their jobs will continue when a new retailer takes over the space.Neighboring retailers have some regrets about ultimo's imminent closure., owner of the nearby men's store BillyBlue, said,"For me it, was nice, the silicon valley types would come here and their girlfriends would go to ultimo.You had to be slim in order to shop there. "But bragman is not surprised that the store is closing.He thought it was poorly designed. "First of all, you walk in and you're faced with steps.You have to be careful, you're not supposed to have to be careful, you're supposed to shop.And they made it like a television screen and whoever is in the store is on michael kors sale online view.A woman buying a $3, 000 suit does not want to be on view,"Bragman said.
 

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