• Urban Outfitters’ profits fell 24.4 percent in the fourth quarter due to aggressive markdowns. [WWD]
• Yesterday in New York, authorities arrested five people who were allegedly planning to import more than $40 million in counterfeit goods. [WWD]
• Diane Von Furstenberg on her recent Purple cover: “I don’t know how I managed to not look ridiculous.” [WWD]
• Wednesday’s premiere of the twelfth season of America’s Next Top Model was the second-highest-rated show of the night, behind American Idol. Someone give Tyra Banks a cookie. [Top Model Gossip]
• Niki Taylor gave birth to a baby girl this week. We’ll assume she already looks as though she was never pregnant. [British Vogue]
