Retailers across the world are making headlines this week, from price increases to big partnerships with Olympic athletes, as well as a few concerning trends in job cuts. Here’s a closeout of the week’s retail news.
Price Increases Hit Beauty Brands
Merit, a beauty brand known for its high-quality essentials, has announced that it will raise prices on select products and increase the threshold for free shipping. Starting Monday, customers will see price hikes as the company grapples with the rising costs of shipping and logistics. Merit, along with other brands such as On, Nike, and E.l.f. Beauty, is raising prices due to the impact of inflation and supply chain issues.
“For the last five years, we’ve aimed to create high-quality essentials at fair, accessible prices,” Merit said in an email to its customers. “While we remain committed to that promise, shipping and logistics costs have increased significantly over the past year.”
Dick’s Sporting Goods Teams with Olympic Athletes
As the Winter Olympics approach, Dick’s Sporting Goods has signed on nine Team USA athletes as brand ambassadors, including figure skater Ilia Malinin, alpine skier Audrey Crowley, and hockey players Charlie McAvoy and Caroline Harvey. This partnership is part of a broader strategy to highlight the journey of Olympic athletes through social media content and promotional campaigns.
Athletes will share behind-the-scenes glimpses of their training and competition, while each will receive personalized products from Dick’s. The retailer is also donating $10,000 to a youth sports organization chosen by each athlete, doubling the donation if they win a medal.
The partnership aligns with Dick’s new ad campaign, “Every Season,” which aims to connect with sports fans and inspire future athletes.
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Retail News Gets Spicy with Absolut Tabasco Vodka
In an unexpected but exciting collaboration, Absolut has teamed up with hot sauce brand Tabasco to create a spicy vodka, now available in the U.S. and soon to roll out globally. The new product is being marketed as a great base for vodka cocktails like bloody marys and spicy lemonades.
“Absolut has never been afraid to mix things up or shy away from bold moves and flavor,” said Caroline Begley, U.S. Vice President of Marketing for Absolut. “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.”
Record Valentine’s Day Spending
Valentine’s Day spending is expected to reach $29.1 billion in 2026, a new record according to the National Retail Federation (NRF). The anticipated spending surpasses the previous record set in 2025, when $27.5 billion was spent. Consumers are budgeting an average of nearly $200 on gifts this year.
The rise in spending is attributed to middle- and high-income shoppers who are broadening their gift lists to include friends, co-workers, and even pets in addition to their loved ones.
Retail Job Cuts and Store Closures
The retail sector is also dealing with a wave of layoffs. In the last week of January, Amazon, The Home Depot, Nike, and Pinterest confirmed significant job cuts. Amazon announced it would cut 16,000 jobs, while Home Depot and Nike each planned to lay off about 800 employees. Pinterest also revealed it would cut 15% of its workforce. Additionally, Macy’s has closed more stores and a fulfillment center, leading to further job losses.
These layoffs are part of a broader trend in the retail industry, which has seen nearly 93,000 job cuts in 2025, more than double the previous year.
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As these trends unfold, retailers are navigating an increasingly challenging environment marked by rising costs, changing consumer preferences, and tough staffing decisions. The coming months will likely reveal further adjustments in how companies manage their pricing, workforce, and brand partnerships to stay competitive.
