Morning Hemlines: Cavalli, Gossip, Kahn, Saks, Matthew Williamson and J. Crew

Roberto Cavalli calls off sale of eponymous fashion label due to current market conditions, will not reconsider sale before 2009 citing no need to sell. (WWD)

Teen soap Gossip Girl scores middling ratings, but big fashion points; being featured on the show "translates to sales," says designer Tory Burch. (NY Times)

Wendy Kahn has been named C.E.O. of Valentino USA and Valentino Fashion Group USA and Canada. The former president of Celine and Pucci in the U.S., Kahn will be responsible for developing the Valentino and M Missoni brands. (WWD)

Saks profit margin sinks; luxury sales slow down as even the super-wealthy struggle with depreciated asset values, and could decline as much as 2% in the coming year. (Bloomberg)

British designer Matthew Williamson will open his first U.S. flagship in New York's West Village early next year. (Vogue UK)

J. Crew stock upgraded to "Hold" from "Sell," despite a dreary second-quarter outlook. Analyst thinks the company is being "overly cautious." (Businessweek)

by Sean Santiago