The Weekly Closeout: Nike appoints innovation chief and retailers face cyberattacks

It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about. 

From Huda Beauty reclaiming full ownership as an independent brand to Hellmann’s Mayonnaise hosting a wedding, here’s our closeout for the week.

What you may have missed

Nike names Tony Bignell chief innovation officer

About a week after a Nike internal memo revealed long-term veteran John Hoke would retire as chief innovation officer, the brand has found his replacement. Tony Bignell, vice president of running and footwear, will take over the position and begin transitioning into the role with the help of Hoke effective immediately. Hoke does not officially retire until October.

Bignell, who has spent more than 20 years at Nike and nine leading its footwear innovation team, will report to Chief Innovation, Design and Product Officer Phil McCartney. McCartney himself took on his current role just last month. Bignell has already been a part of the development of key Nike franchises, including VaporMax and Joyride, and led a reset for Nike’s running business, according to an internal memo.

In the new position, Bignell will be responsible for innovation across brands, products, sports and platforms. His replacement as vice president of running and footwear will soon be announced.

Huda Beauty founder buys back brand

Huda Beauty founder and co-CEO Huda Kattan has bought back her equity in the brand, giving her full control of the company.

TSG Consumer Partners in 2017 acquired a minority stake in Huda Beauty. 

“Taking back full ownership of Huda Beauty is a deeply very important moment for me,” Kattan said in a statement. “It says that while many of us dreamers have visions that we are told are too big or not possible to do alone, in actuality, you have all the power you need to change the world yourself! This brand was built on passion, creativity, and a desire to challenge the beauty industry. As we step into this new chapter, I’m more committed than ever to pushing boundaries, staying true to our roots, and showing up for our incredible community every step of the way.”

Kattan will serve as co-CEO with her husband, Christopher Goncalo, while her sister, Alya Kattan, will lead the brand’s social strategy. 

Prose launches West Coast customization center

AI-powered custom hair and skin care DTC brand Prose opened a new customization center in Commerce, California to serve its customer base on the West Coast. 

Prose invested $9 million into the customization center, which mirrors the company’s flagship Brooklyn location and spans 43,000 square feet.

“This expansion marks a significant step forward in Prose’s evolution, enabling us to meet growing demand from customers across the U.S. and Canada,” Prose CEO and co-founder Arnaud Plas said in a statement. “We look forward to leveraging this new state-of-the-art customization center to further drive personalized beauty solutions and set a new standard for the industry.”

Opening the center will cut carbon emissions in half and reduce shipping time, according to the brand. The automated system for the made-to-order manufacturing process also minimizes excess waste and reduces the company’s carbon footprint, per Prose.

Retail therapy

Take home a piece of ‘Twin Peaks’

After passing earlier this year, items from American filmmaker David Lynch’s estate are now up for auction. “The Collection of David Lynch” auction will take place June 18 online and live in Los Angeles, according to the late visionary’s official Facebook account.

The auction features almost 450 pieces from Lynch’s personal archive with items like his director’s chair, prop diner menus from “Mulholland Drive” and Lynch’s personal 35mm print of his debut film “Eraserhead,” to name a few.

When I dip, you dip, we dip

Hellmann’s Mayonnaise is kicking off summer nuptial season by hosting a giveaway to one lucky couple of a dip-inspired wedding in Las Vegas.

The event will be held ahead of national chicken tender day, and honors Hellmann’s new chicken tender dips, including buttermilk ranch, spicy ranch and garlic Parmesan.

The wedding experience includes a ceremony officiated by Hellmann’s mascot, Manny Mayo, a reception featuring a chicken tender tower, a professional photographer and a $5,000 stipend to go toward travel expenses.

What we’re still thinking about

8.5% 

That’s how much net revenue decreased year over year at Lands’ End in Q1, coming in at $261.2 million. Net loss was $8.3 million, an increase of 28% compared to the year-ago quarter, according to a company press release.

“This period marked significant progress in strengthening the resiliency of our diversified supply chain, positioning us to maintain momentum throughout fiscal 2025,” CEO Andrew McLean said in a statement regarding the quarter.

The apparel retailer is currently exploring strategic alternatives including a sale or merger, but is not making any further public comment on the process until it determines that disclosure is appropriate.

2% 

That’s how much PVH Corp.’s revenue increased year over year in Q1, coming in at $1.98 billion. Tommy Hilfiger’s revenue was up 3%, while Calvin Klein was flat. The company swung to a net loss of $44.8 million, compared to a net income of $151.4 million in the year-ago quarter.

“Looking ahead, we’re focused on what we can control, stepping up our actions to scale the impact of our stronger product, next-level cut-through campaigns, and sharper marketplace execution across both brands,” CEO Stefan Larsson said in a statement. “This will both strengthen the back half of this year, and continue to move us toward our long-term goal of building Calvin Klein and Tommy Hilfiger into the most desirable lifestyle brands in the world.”

What we’re watching

What a security breach means for Victoria’s Secret – and retail more widely

After postponing its Q1 report due to a cybersecurity breach affecting its information technology systems, Victoria’s Secret will release its results Wednesday.

The episode interfered with the retailer’s Memorial Day sale and added to the headwinds buffeting its turnaround, per emailed comments from Wells Fargo analysts led by Ike Boruchow. The lingerie retailer is already under “tariff-induced margin pressure and an increased recession risk for a sensitive consumer discretionary business,” Boruchow said.

Victoria’s Secret is not alone. Retailers and brands here and abroad in recent weeks have suffered cybersecurity attacks, including Adidas and The North Face. In April, retail was the seventh most attacked industry in the U.S, and over the past six months retailers faced more than 950 cyberattacks per week on average, according to Check Point Research.

Adam Marrè, chief information security officer at cybersecurity firm Arctic Wolf, sees “a pattern that suggests a deliberate campaign against the retail sector.”  

“What makes this trend particularly alarming is its scale and coordination,” Marrè said. “It is not confined to one geography or the result of isolated incidents.”