After sorting and resorting the sale merchandise, it seems as much of the sale inventory are items that fall into the transitional-spring category and holdovers from the winter sale. For example, this 3.1 Phillip Lim sweater is from the winter 2014 collection and is now 65% off and this 3.1 Phillip Lim shift dress is more traditional to spring and is now reduced 40%. There also seems to be a lot of great premium denim options, most of which are marked 40% off.
The sale will continue through February 22nd. The next big holiday weekend is Memorial Day, which falls on May 26th this year. No need to speculate what will be on sale during that sale.