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Morning Hemlines Gwyneth Armani Gap Milan Escada Retail Burberry Missoni

Fashion Inc.

by Sara Clemence
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Sep 23 2008 9:42am EDT

Morning Hemlines: Gwyneth, Armani, Gap, Milan, Escada, Retail, Burberry, Missoni

Gap has purchased Athleta, a women's athletic apparel company, for $150 million in in cash.(WWD)

The Escada Group reported a pre-tax loss of $20.3 million for the third quarter, and lowered its forecast for the full year. (WWD)

Holiday retail sales will be up just 2.2% this year, says the National Retail Federation. (WSJ)

Gwyneth Paltrow has launched a "lifestyle website" called GOOP. (Fashion Week Daily)

Nike is buying back $5 billion in shares over four years. (WWD)

Suzy Menkes says Armani, Missoni, and Burberry shows were a "refreshing breeze." (IHT)

Milan Fashion Week opened Saturday with a collection by plus-sized brand Elena Miro. (Glamour)

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