• Great news for those of you who have been dying to get your hands on Miley Cyrus' clothing line for Wal-Mart: The retail giant is scouting for a NYC location again. [Crain's]
• Rich parents aren't buying super-expensive designer clothing for their bratty kids quite like they used to, not surprisingly. [WSJ]
• First the Calvin Klein billboard on Houston Street was targeted by people who objected to its raciness; now it's been targeted by vandals. [Jezebel]
• The Calvin billboard isn't the only victim. Calvin Klein became a crime statistic himself when a thief ripped the East Hampton beach parking sticker off his Porsche. The police are now conducting a thorough investigation. [NYP]

• The Calvin Klein billboard in Soho that has caused a bit of controversy recently has been replaced. Of course, just swapping out the ads could be part of the company's PR strategy to keep people talking about the ad campaign, in which case, well, it worked nicely. [GoaG]
• Rumor has it Anna Wintour has offered a Vogue internship to Prince William's girlfriend, Kate Middleton. [Grazia]
• Rumor also has it Emma Watson is designing a teen line. [Fashionista]
• Olivia Palermo plans to model now: She's signed with Wilhelmina. [P6]
• Isaac Mizrahi is opening a store on the Upper East Side in August. [WWD]

• More on the winners and losers—both at the dinner and on the red carpet—at last night's CFDA Awards. [NYT, FWD, Cut, TDB, Pipeline]
• Not surprisingly, the powers that be at Calvin Klein aren't the least bit displeased by the new controversy surrounding their not-so-new ad campaign for the company's jeans line. [Cut]
• Say it ain't so: Britain's Mirror reports Agyness Deyn is "quitting modeling and New York and coming home to concentrate on her acting career." [Mirror]
• Because he's willing to do whatever it takes to ensure you see his movie when it comes out, Sacha Baron Cohen appears in the buff on GQ's new cover. [GQ]

Back in May, Calvin Klein Jeans erected an billboard on Houston Street featuring four teenagers making out. The campaign was designed to stir up controversy: When it was first announced, the company gleefully revealed that a companion TV spot had been banned by American television networks before it even aired. Well, it's been more than month now, but the Daily News has finally managed to find some people outraged by the sexually-charged billboard. People like Rev. Don Wildmon, who runs the American Family Association and who says the billboard "shows a lack of respect for our society." Of course, Wildmon may have to squint pretty hard to see the billboard from his vantage point: He lives in Tupelo, Mississippi. [NYDN]

Back in January, when Calvin Klein Jeans first revealed its new ad campaign shot by renowned photog Steven Meisel, company execs said it was so unbelievably racy, they wouldn't even be able to buy commercials on cable TV. But they didn't say anything about 100-foot billboards on Houston Street! "Looks like the recession isn't taming the cheap sluts and man-whores," writes Bowery Boogie. And thank God for that. [Bowery Boogie]