The show opens on an apartment, which is entered first by a man, followed shortly by a woman. We come to understand that they are actually in two separate apartments, 2E and 3E.

The man begins to unpack his groceries, and the woman unpacks a box, giving us the impression that she is a new tenant ("Two Fairy Tales"). The man is now typing while the woman is looking through the paper. Both have the Sunday New York Times and are observing the loneliness of being alone on a Saturday night ("Saturday Night"). The woman begins unpacking her groceries while the man continues his typing. As she removes various items from the bag, she swoons over a grocery clerk, which quickly escalades to her imagining being wooed by various men, all of which she acts out alone with her grocery props ("Can That Boy Foxtrot!").

We see the man abandon his typing to prepare dinner, as she prepares to hang a picture on the wall ("All Things Bright and Beautiful"). She begins hammering the picture, which can be heard by the man in his apartment above her. He begins stomping and banging his chair on the floor in reply, but she continues to hammer. The two suddenly imagine a scene of seduction, he seeing himself as a dashing man "conquering" a woman ("Bang!"). Just as their fantasy becomes more and more elaborate, they both suddenly return to reality ("All Things Bright and Beautiful – Part II").

The woman prepares for a bath as she contemplates her safe choices in life, which leave her heart undamaged... but also leave her sad and lonely ("The Girls of Summer"). The woman exits to the bathroom as the man ponders the life of a woman who led a double life, trying to choose between a life of sophistication or a life filled with tawdry activities ("Uptown, Downtown").

They both finish preparations for their dinner, dreaming of lives with spouses and children ("Who Could Be Blue / Little White House"). As they begin to eat, the man sees the woman for the first time ("So Many People"). He tries to tell her that he loves her as she imagines a man boldly approaching her and falling in love. The two are drawn to each other with their similar ideas of love and affection and share a kiss ("Your Eyes Are Blue"). As their dance continues, we slowly see them separating, as each returns to the reality of a lonely apartment ("A Moment with You"). They both reflect on a future that's filled with love, hers an admission of being ready for a balanced relationship ("Marry Me a Little"). He has a more jaded view of being emotionally smothered by a lover ("Happily Ever After").

The two begin to get ready for bed, she in pajamas with a mud pack on her face and he undressing to his boxer shorts. Together, they imagine an amusing afternoon playing golf, which they hurry through quickly to get to dinner and drinks ("Pour le Sport"). As he gets into bed, he imagines having a woman with him and begins to seduce someone who isn't there ("Silly People"). The woman finishes getting ready for bed, wondering how she will meet the love of her life, believing that it could be at any moment, with no warning ("There Won't Be Trumpets").

They finally get into bed, still both alone. They both face the reality that this was just another lonely Saturday night and that they were not meant to meet their love on this evening ("It Wasn't Meant to Happen").