TERROR ALERT: What do the ladies of the First Family do after a good deed, such as their surprise appearance at potential terror target Citigroup Center on Monday? They go shopping. Jenna and Barbara Bush were spotted buying a good bit of fall merchandise from designer Rebecca Taylor’s Mott Street store on Tuesday morning, and even First Lady Laura Bush joined in on the fun, stopping by to approve their purchases — including pants, camisols, cardigans, a fake-fur jacket and sparkly ribbon belts perfect for the campaign trail.

INTERNAL AFFAIRS: Everyone on Seventh Avenue knows the value of a hard-working intern, and Donna Karan got a chance to show hers off on Tuesday when the 80 students working at the company this summer were invited to appear during a segment on “The Early Show” on CBS. But one intern was caught in a tough situation when she was asked on-air how many yards of fabric does it take to make a pair of pants. Considering the intern had focused her studies on visual merchandising, her managers were impressed when she hazarded a fairly accurate guess of “two.”

FLAME GAME: Giambattista Valli, creative director at Emanuel Ungaro, is training for the Olympic Games. No, he’s not competing in the javelin event or any other. Rather, he’s been asked by the Olympic committee to take part in the torch relay on Aug. 12, meaning he will have to run about 500 meters. Vacationing this week in Positano, Italy, Valli is said to be building up his cardiovascular endurance — and contemplating what to wear. After all, the committee told him the torch will be passed to him by none other than Naomi Campbell. His wardrobe suggestion for her: Azzedine Alaïa.

MAGLI’S MAN?: Sources in Milan say Bruno Magli has tapped Martino Scabbia Guerrini as its new general manager and chief executive officer, effective next month. Guerrini was previously general manager at Fay, a brand that’s part of Diego Della Valle’s Tod’s group. Guerrini will report to Luca Ramella, president of the Italian accessories company. Magli is owned by the Bulgari-backed Opera fund. Magli executives could not be reached for comment.

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