• Prada’s profits fell 22 percent in 2008 from the previous year. The main cause was decreased orders from retail outlets. Sales in stand-alone Prada stores increased 5.6 percent, largely due to sales of the Prada cell phone. [British Vogue]
• PPR employees protested a planned 1,900 layoffs at the company’s Paris headquarters yesterday. [WWD]
• The March issue of Vogue with the Michelle Obama cover sold 560,000 copies, edging out the top-selling issue before that, September of last year, which only sold 559,000 copies. [WWD]
• Sophie Theallet said someone did send a check for the $2,000 dress she made that Michelle Obama wore yesterday. [WWD]
• Carla Bruni wore spring 2009 Chanel in Spain yesterday. So we should all forget about Princess Letizia? [Grazia]
