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 Dick’s Sporting Goods teaming up with Olympic athletes ahead of the Winter Games to retailers turning to layoffs, here’s our closeout for the week.
What you may have missed
Merit to raise prices
Beauty brand Merit notified customers that they will raise prices on select products and increase its free shipping threshold, effective Monday.
“For the last five years, we’ve aimed to create high-quality essentials at fair, accessible prices,” the company said in an email to customers this week. “While we remain committed to that promise, shipping and logistics costs have increased significantly over the past year, and like many brands, we’ve felt the impact.”
As of press time, the beauty company offers free shipping on orders $40 or more in the U.S., $50 CAD or more in Canada and $75 AUD or more in Australia.
Retailers across the industry — including On, Nike and E.l.f. Beauty — have opted to raise prices over the past year as they grapple with higher costs.
Dick’s teams with Olympic athletes ahead of Winter Games
As the Winter Olympics prepare to kick off in Italy, Dick’s Sporting Goods is bringing on nine Team USA athletes as brand ambassadors. They include figure skater Ilia Malinin, alpine skiier Audrey Crowley, hockey players Charlie McAvoy and Caroline Harvey, as well as members of the speedskating, sled hockey, curling, snowboarding and para nordic skiing teams.
Athletes will share behind-the-scenes content on social about their training and competition, and each will receive personalized products from Dick’s for their journey. The sporting goods retailer will also donate $10,000 to a youth sports organization chosen by each athlete and will double that donation if they win a medal.
The partnership comes alongside a new ad, titled “Every Season,” which will drop Feb. 8
“At Dick’s, we know storytelling has the power to connect fans during major sports moments and inspire tomorrow's star athletes," Mark Rooks, vice president of creative, sponsorship and entertainment, said in a statement. "We're proud to champion Team USA and shine a spotlight on the drive and dedication that shapes these athletes' path to the Olympic and Paralympic Winter Games."
Retail therapy
Some hot sauce with your vodka
Alcohol brand Absolut has teamed up with hot sauce company Tabasco to debut a spicy vodka that’s now available in the U.S. and rolling out globally, per a Wednesday press release.
"Absolut has never been afraid to mix things up or shy away from bold moves and flavor," Caroline Begley, U.S. vice president of marketing for Absolut, said in a statement. "We're proud to partner with another icon and one of the world's leading hot sauce brands to add a spicy kick to both classic and trending vodka cocktails."
The brands are marketing the product as suitable for bloody mary and spicy lemonade drinks, though fortune favors the brave — taking shots of the spicy vodka are encouraged as well.
What we’re still thinking about
$29.1B
That’s the anticipated spend on Valentine’s Day this year, a record, according to the National Retail Federation and Prosper Insights & Analytics. It surpasses the previous 2025 record of $27.5 billion. Shoppers are budgeting an average of nearly $200 on gifts this year.
Fifty-five percent of consumers plan to celebrate Valentine’s Day, and a record 35% anticipate spending on a gift for their pet.
The growth is “driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers and even pets in addition to loved ones,” Katherine Cullen, NRF Vice President of Industry and Consumer Insights, said in a statement.
What we’re watching
Retail slashes jobs in January after tepid hiring in 2025
In the last week of January, Amazon, The Home Depot, Nike and Pinterest confirmed significant layoffs, adding to what has already been a weak employment picture in the space.
Amazon said it is slashing 16,000 jobs, Home Depot and Nike each about 800 and Pinterest about 15% of its workforce. Earlier this month, Macy’s identified 14 more stores for closure and said it will close a fulfillment center that, when it opened about a decade ago, employed about 1,500 people plus 1,000 temporary seasonal workers. Saks Global, which filed for bankruptcy Jan. 14, is likely to close stores — in addition to off-price closures already announced — and cut more roles in its ongoing quest for synergies.
These moves come after a year when the industry announced nearly 93,000 job cuts, 123% more than in 2024, according to Challenger, Grey and Christmas.
