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Aug 27 2008 10:00AM EDT

Morning Hemlines: Coach, Vuitton, Dillard's, Urban Outfitters, Tennis, Katie Holmes, Supermodels

Coach shares rose nearly 7 percent Tuesday after the company announced a $1 billion buyback. (DNR)

In a surprising partnership, Japanese designer Rei Kawakubo has partnered with Louis Vuitton on a line of evening bags. (WWD)

Profits were down even farther for Dillard's in the second quarter. (WSJ)

Meanwhile, Urban Outfitters has been going gangbusters, even during a slump. Can it keep an ambitious growth plan on track? (WSJ)

Tennis wear sales are up, thanks in part to the strong growth of the sport--participation was up 18.7 percent in 2007. (WWD)

Everyone can calm down--the Daily Mail's report that Katie Holmes would launch her fashion line at New York's Fashion Week was wrong. (Fashion Week Daily)

The Supermodels have returned. Maybe now you'll buy stuff. (Guardian)


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