Jenni Baden HowardIn breaking news, Target Corp. has named a new CEO, Michael Fiddelke, the company’s Chief Operating Officer, who will step into the role beginning February 2026. According to The New York Times, the announcement, “came as the company reported second-quarter results, which were better than analysts expected, and an improvement from the previous quarter, but still showed a drop in foot traffic and the amount shoppers spent per visit. Same-store sales fell 1.9 percent last quarter and profit declined around 20 percent, in part because of markdowns to move merchandise,” the Times reported.
In other urgent news, The Estée Lauder Companies (ELC) has nominated Dana Strong, CBE, and Annabelle Yu Long for election to the company’s Board of Directors at its annual meeting of stockholders, beginning November 13, 2025. As the CEO of Sky (Comcast), Strong has more than 25 years of consumer leadership and global media experience. Long has extensive experience in the Asia/Pacific markets, corporate strategy and venture capital, and is Founding and Managing Partner of BAI Capital and a Bertelsmann Group Management Committee member.
In other headlines this morning, Waldencast, which owns Milk Makeup and Obagi skin care, has postponed the release of its first-half earnings, and lowered its forecast “to imply a weaker second half of the year,” according to Business Of Fashion. The company has announced that it will be making a strategic review.
Beauty industry veteran Carly Guerra, who has worked in executive roles with brands including La Mer, Dior, MAC Cosmetics and Lancôme, is touting her own breast care brand, Savoir, following her own cancer diagnosis in May 2022. “I was very young to be diagnosed with this disease,” Guerra, who is now in remission, told WWD. A Beauty Breast Serum will launch, direct-to-consumer, next month. In other buzzed-about new launches, Pattern by Tracee Ellis Ross is adding body care to its portfolio of much-loved hair care products. Available from tomorrow, Pattern Body offers five formulas with a focus on exfoliation and hydration. Meanwhile, skin care brand Beekman 1802 is expanding into hair care, with the arrival of Milk Therapy, for the hair and scalp.
At CEW, we report on BITE (Beauty Is The Experience) in New York City, a one-day event hosted by Beauty Independent which promises to be beauty’s answer to Fashion Week. BITE will gather high-growth brands, forward-thinking retailers, top-tier investors, and best-in-class service providers for a day of connection, discovery, and influence. “Beauty Independent has been championing beauty entrepreneurs since day one,” said Nader Naeymi-Rad, founder of Indie Beauty Media Group and publisher of Beauty Independent.
Designed to “bridge the gap between professional artistry and everyday accessibility,” Neutrogena is dropping a series of skin prep kits in collaboration with celebrity make-up artist Danessa Myricks. The kits will launch exclusively at CVS Pharmacy on 31 August.
Read more about these news stories by clicking on the links below.
Target Names NEW CEO as it Tries to Break Sales Slump According to the Times. The forecast reflects border struggles across the retail sector as companies like Target navigate the ripple effects of higher tariffs and dampened consumer sentiment.” the Times reported.
The Estée Lauder Companies Nominates Dana Strong, CBE, And Annabelle Yu Long For Election To Board of Directors. Chair William P. Lauder said that both nominees brought “highly relevant” global perspectives to “support the company’s growth and transformation ambitions,” according to Global Cosmetics News. (GLOBAL COSMETICS NEWS)
Waldencast Delays First-Half Earnings Release. The company also lowered its second half of the year outlook, reports BoF, “as it undertakes a cost-cutting review.” (BUSINESS OF FASHION)
Beauty Veteran Carly Guerra Launches Breast Care Brand. Guerra partnered with two chemists to create the formulas. (WWD)
BITE (Beauty Is The Experience) Is Coming To NYC. BITE’s exhibition space will showcase 100 curated brands, such as RoC Skincare, Neom Wellbeing, True Botanicals, Vitamasques, AKT London, and Innersense Organic Beauty — along with change-making beauty service providers. (CEW)
Pattern by Tracee Ellis Ross Drops Body Care. “I want people to feel hydrated, radiant, and glowy. But mostly I want people to feel like themselves. I want you to be able to use these products and remember who you are,” said Ross. (HARPER’S BAZAAR)
Beekman 1802 Moves Into Haircare. The Milk Therapy collection is formulated to address the effects of hair stress, including breakage and sensitivity. (BEAUTY NEWS DAILY)
Neutrogena Partners With Danessa Myricks. The ‘Get Glam Ready’ kits feature the MUA’s staple products, including Hydro Boost Gel Cream, Hydrating Sheet Masks, Hydro Boost Lip Oil and Makeup Remover Cleansing Wipes. (COSMETICS BUSINESS)
