Mexico’s Consumer Confidence Declines Further: The Week in Retail

This week in retail news: Mexico's consumer confidence continues to decline. Ikea Mexico has expanded its e-commerce presence, increasing sales by 14%. Meanwhile, Mexican textile producers are advocating for the continuation of tariffs on Chinese imports.

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Mexico’s Consumer Confidence Falls for 4th Straight Month

Consumer confidence in Mexico continued its decline in February, marking the fourth consecutive month of decrease, according to data from the National Institute of Statistics and Geography (INEGI). The Consumer Confidence Index (ICC) stood at 46.3 points in seasonally adjusted figures, reflecting a monthly drop of 0.3 points. 

Gap Exceeds Q4 Expectations, 3% Sales Rise Despite Decline

Gap reported higher-than-expected results for its fiscal fourth quarter and full-year 2024, reflecting continued momentum under the current CEO. The company’s net sales for the fourth quarter declined by 3% year-over-year to US$4.15 billion, impacted by calendar shifts and the absence of an extra selling week.

Ikea Mexico Adds 46 Pickup Points, Boosts Sales by 14% in 2024

Ikea Mexico closed 2024 with a nationwide expansion of its e-commerce platform, now covering all 32 states. The company also introduced 46 new pickup points, resulting in a 20% increase in home deliveries and a 14% rise in sales compared to 2023.

Mexico's Textile Sector Seeks Tariff Extension on China Goods

The president of Mexico’s National Chamber of the Textile Industry (CANAINTEX), Rafael Zaga, has called on the government to maintain tariffs on Chinese textile and apparel imports until the domestic industry recovers and job losses are reversed.

Costco Misses Profit Targets as Tariffs Raise Costs

Costco shares fell nearly 1% in extended trading following its earnings release. The company may adjust its international supply chain if tariffs imposed by US President Donald Trump lead to significant price increases, CEO Ron Vachris said during a conference call on Thursday.