As if retailers weren't already panicky about Black Friday and the upcoming holiday shopping season, now they have worry about fire alarms sending shoppers to the exits. Racked is reporting a fire on Broadway south of Prince Street has forced Mango, Hugo Boss and Sephora to evacuate customers and employees. [Racked]

• Kate Moss is teaming up with Topshop boss Philip Green and Simon Cowell to launch an entertainment conglomerate that will "rival Disney." At least that's what one British newspaper is reporting. [Daily Mail]
• Sad: Escada may be forced to file for bankruptcy in the near future. [Vogue UK, Fashionista]
• Sadder: Jon Gosselin may be teaming up with Christian Audigier to launch a kids' clothing line. [E!]
• Saddest: The rumor floating around Moscow is that Pop editor/It girl Dasha Zhukova and her billionaire boyfriend, Roman Abramovich, have gone their separate ways. [FWD]

• The new H&M at 86th Street and Lexington opens at noon tomorrow. [AFB, Racked]
• Scarlett Johansson is replacing Penélope Cruz as the face of Mango. [WWD, SF]
• For the first time, the CFDA is tacking on a "Popular Vote Award" to this year's show. As the name implies, it will allow the public to weigh in, shockingly. [WWD]
• What's Kate Moss's novel going to be about? "A young model's life as she goes from a nobody to an A-list star." Sounds familiar, no? [NYDN]
• Marc Jacobs hosted a 30th birthday party for fiancé Lorenzo Martone last night at the not-yet-open Avenue. Julia Restoin Roitfeld and Genevieve Jones (above) were among the 150 people on hand for the occasion. [W]

• Are Americans finally shopping again? Maybe. Retail sales were up slightly in April. [NYT]
• Gucci has filed a trademark infringement lawsuit against Guess? Inc. [BN]
• Alessandra Stanley's Times review of Bravo's Project Runway-ripoff, The Fashion Show, featuring Isaac Mizrahi, Kelly Rowland and Fern Mallis, wasn't especially favorable. [NYT]
• Agy Deyn is now pitching bottled water. [Sun]
• Leigh Lezark is the new face of Mango. [Nylon]
• Michelle Obama wore Michael Kors—not Alaïa—to the Time gala the other night. [FWD]
• If you've ever wished you could meet Adriana Lima dressed up as "a modern-day Cleopatra," you'll get your chance this Saturday. [NYM]

• The Max Azria dress that Angelina Jolie wore to the SAG Awards? She wore it backwards. [NYM]
• Marc Jacobs is slashing the guest list for his Feb. 16th show. [WWD]
• Target has a temporary McQueen shop planned for next month. [Racked]
• The backstory on why Fabien Baron was pushed out at Interview. [WWD]
• Jane Mayle's store isn't closing; it will be around through April. [Pipeline]
• Two brands doing well despite the recession: H&M and Mango. [WWD]
• Aretha Franklin's inauguration hat is Smithsonian-bound. [SW]

♦ Unlike the Marc Jacobs store window in LA, which is mocking Sarah Palin, Henri Bendel's display is bipartisan, with mannequins flanked by red and blue polling booths. In more other Marc news, you can add his "Rock and Roll Circus" holiday party to the list of festivites that have been cancelled due to the economic downturn. [WWD, WWD]
♦ Madison Avenue is "pockmarked" with vacant storefronts, reflecting "sky-high rents and how cautious and dollar-conscious European and American brands have become in their expansion plans." [WWD]
♦ Donna Karan is opting not to spend money shooting an ad campaign for spring '09; instead, the company will just use images from the runway show. If this is going to be a trend, models and photographers might want to consider a side job. [The Cut]