A Global Roundup

In another sign that the luxury market is in for a dark age, a new report from MasterCard shows luxury sales down 20 percent in October from a year earlier. (WSJ)

Gawker gushes over Barack Obama's interview with Sway, MTV's official hip hop ambassador, on which the new American president urged his fellow brothers to "pull up your pants!" (Gawker)

CVS Pharmacy moved upmarket on Monday, lifting the curtain on its high-end beauty store Beauty 360 in D.C., the first of some 500 more slated to open over the next several years. (WWD)

Following in the footsteps of H&M and Topshop, Target announces that Alexander McQueen — British enfant terrible of fashion — will design a limited-edition collection for the mass retailer under a new program called “Designer Collaborations." (WSJ)

— Staff