• Megan Fox may have been replaced by an underwear model in the next Transformers movie, but she plays one pretty well in this latest campaign for Armani Exchange. Trading places is all the rage for fall. [Fox]

• Lindsay Lohan is apparently no longer welcome publicity for designers. The ankle-braceleted starlet has been — horrors! — banned from borrowing clothing by most fashion houses, according to one tipster. Lohan has been clothing herself by buying things. [E!]

• Sarah Burton, who has worked for Alexander McQueen since 1996, was named its new creative director. Cathy Horyn came out in support of Burton as a potential McQueen successor in March. Burton was previously head of women's wear. [WWD, Telegraph]

• Here's a bored-looking Beyoncé, in a campaign for the European fast-fashion chain C&A. [Quem]
• Liza Minnelli is getting an HSN line! She'll be selling things she has in excess, including costume jewelry, clothing, and ex-husbands. [Daily Express]

[New York, February 23. Image via INF]

• Kate Moss's company, Skate LLC, reported revenues of just over £1 million and profits of £771,139 during the year 2009. This is a significant drop from when she made 6.5 million in 2007. [Daily Mail]

• PETA named Madonna one of its 6 worst-dressed celebrities, along with "Maggot" Gyllenhaal and the Olsen twins. "Someone needs to tell Madge that wearing fur doesn't make you a cougar," the animal-lovers sniffed. [PETA]

• Pregnant singer Lily Allen has announced that she has turned down multiple offers to design a maternity line, given that so many of her fans are tween girls and feels that attaching her name to getting knocked up just "wouldn't be suitable." Jaime-Lynn, are you listening? [BBC]
  
• Lily also opened the Harrods sale today,…