• Liz Claiborne posted a fourth-quarter loss of $828.9 million, forecasts more losses for 2009, and is looking for ways to cut costs. [WWD]

• Mulberry's sales this January beat last January's sales by 30 percent. Their full-price items are still selling well. [British Vogue]

• John Galliano: “This is a credit, not a creative, crisis. Our clients still want fashion, still want to be inspired. My role, now more than ever, is to dress their desires. Right now fashion should be a morale booster, escapist, excellent and constant. Now is the time to invest in luxury, quality and excellence.” [WWD]

• The spring 2009 Elizabeth and James collection is out. The look book online features blown-up dinosaurs, kiddie pools, and bowling. [Elizabeth and James]

• Here is a photo of Diane Von Furstenberg hanging upside down, talking on the phone. [Fashionologie]