Fashion Breakfast

Retail sales predicted to have a dismal year. John Lonski, chief economist at Moody's Investors Service claims, "As long as the labor market slackens and payrolls barely grow, retail sales growth will show its worst performance in years."(WWD)

The much anticipated Marc Jacobs campaign starring Victoria Beckham brings a set of mixed reactions. Folks, it's irony. Get it? (WWD)

Martha Stewart Living Omnimedia Inc. faced its highest-level shake-up on Thursday. Incremental layoffs, the closing of Blueprint magazine, and stock prices closing at a mere $6.58 are all part of her need to redecorate the company.(WWD)

Madonna gets trageted by foxnews.com with accusations claiming the singer "has conned both UNICEF USA and Gucci into helping her raise money for the Kabbalah Centre and Madonna's patron gurus, the Berg family." Gucci and Madonna's publicist say all money raised by the upcoming benefit will go to orphans in Malawi and UNICEF.(WWD)

The World Bank reports that strong economic expansion in China and India is expected to help balance the expected slow economic growth elsewhere caused in part by by the U.S. mortgage crisis.(WWD)

The newly-launched bags by Katharine Hamnett give a new twist to environmentally friendly. The 100 percent organic cotton totes with slogans such as "Clean Up of Die" will leave the buyer with a fashion statement that will not be missed.(Vogue UK)