Día de Reyes Sales, Saks Faces Bankruptcy: The Week in Retail

Mexico’s retail sector kicked off 2026 with a projected impact of MX$26.13 billion due to Día de Reyes (Epiphany Day). Saks Global is seeking a projected MX1$billion loan to avoid bankruptcy following a missed interest payment and the sudden exit of its CEO. Amidst these shifts, many companies worldwide saw leadership turnover double in 2025.

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Mexico Forecasts MX$26 Billion in Día de Reyes Sales

Mexico’s established commercial sector expects an economic impact of MX$26.13 billion (US$1.6 billion) from the Día de Reyes (Epiphany Day) holiday on Jan. 6. The projection represents an 8% growth compared to 2025, driven largely by increased seasonal disposable income and the national minimum wage hike that went into effect on Jan. 1. 

Mexicans Face a 21% Surge in Día de Reyes Holiday Costs

While CONCANACO SERVYTUR projects Mexico’s Día de Reyes holiday on Jan. 6 will generate MX$26.13 billion (US$1.6 billion), Mexicans face a sharp rise in the cost of holiday staples, with the price of traditional Rosca de Reyes bread and hot chocolate increasing 21% annually.

Saks Seeks US$1 Billion Loan for Potential Bankruptcy Filing

Saks Global Enterprises is in negotiations to secure a US$1 billion loan as it prepares for a possible Chapter 11 bankruptcy filing in the coming weeks. The luxury retailer, which operates Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, reportedly missed a US$100 million interest payment due Dec. 30 and is currently seeking a forbearance agreement with creditors. 

Local SMEs Drive 90% of Mexico’s E-Commerce Growth in 2026

The Mexican e-commerce sector has undergone a structural transformation over the past five years, driven by shifting consumer habits and the rapid digitalization of SMEs. According to data from Tiendanube, the e-commerce ecosystem in 2026 reflects a consolidated market where 90% of transactions are executed by local Mexican businesses. 

Retail, Consumer Sectors See Surge in 2025 CEO Turnover

The retail and consumer goods sectors recorded a significant increase in CEO turnover during 2025, driven by generational shifts and strategic realignments in response to a complex macroeconomic environment. In the United States, retail CEO exits reached between 41 and 43 by late 2024, a more than 100% increase compared to the previous year.