On September 24, 2026, it was reported, top 100 retailer Ethan Allen announced that it filed its definitive proxy statement with the U.S. Securities & Exchange Commission on Sept. 24, setting the stage for its proxy fight with DGB Investment. In making the announcement, the Danbury, Conn.-based retailer revealed that its annual shareholders meeting will take place at 11 a.m. on Nov. 4, and shareholders of record as of Sept. 11 are entitled to vote. In a letter to shareholders that accompanied the proxy announcement, the company encouraged votes for its nominees Chairman, President and CEO M. Farooq Kathwari, David M. Sable, Tara I. Stacom, Maria Eugenia Casar and Cynthia Ekberg Tsai and to vote "withhold" on DGB's nominees on the blue proxy card. It positioned its slate of candidates as the one that would lead to an orderly leadership transition, as both Ethan Allen and DGB, led by Doug Bergeron, are conducting CEO searches to find Kathwari's successor. Ethan Allen has been profitable and debt free, and it delivered a five-year total shareholder return of 49.1%, compared with a peer median of (42.7%) and a 10-year TSR of 30.3% compared to a peer median of 20.6%. The company contended that it has not stood still since the 2015 proxy fight, but has repositioned its design center network; consolidated its logistics footprint; expanded its product assortment; deployed digital tools across the customer journey; and maintained consolidated gross margin above 59% for five consecutive fiscal years. It said its board is committed to expanding qualified customer acquisition; increasing designer and design-center productivity; accelerating relevant product introductions and customization; and maintaining operating discipline.
On August 27, 2026, it was reported, Mancini's Sleepworld is expanding its California footprint with the acquisition of Christian's Mattress Xpress and its nine stores across the state's Central Valley and Central Coast. The deal, effective immediately, transfers ownership of the mattress retailer from founders Ron Gonzales and Deanne Gonzales to Mancini's Sleepworld. Financial terms of the acquisition were not disclosed. The additional stores will take Mancini's store count to 63 locations. The nine stores will continue operating under the Christian's Mattress Xpress banner during the transition and are expected to convert to the Mancini's Sleepworld name early next year. The acquisition gives Mancini's Sleepworld a larger presence in Central California and expands the retail operation that has been in business for 57 years. Christian's Mattress Xpress was started in 1992 under the banner of Christian's Solid Wood Furniture. The company later shifted in 2007 to a sleep shop. As part of the transition, two of the Gonzaleses' children, who currently help lead Christian's Mattress Xpress, will remain with the company and take on new roles with Mancini's Sleepworld. The existing Christian's Mattress Xpress team also is expected to remain in place during the transition. "The fact that the next generation of the Gonzales family will continue with Mancini's Sleepworld makes this transition particularly special," Snyder said. He said having two of their children remain with Mancini's adds to their confidence in the transition. To mark the transition, the retailer has launched a retirement sale at all nine Christian's Mattress Xpress stores to clear existing inventory.
On August 20, 2026, it was reported, Leggett & Platt shareholders have approved the company's proposed acquisition by Somnigroup International, clearing a key hurdle in the $2.5 billion deal. Shareholders voted in favor of the merger agreement at a special shareholder meeting held today. The company said the transaction remains subject to one required regulatory approval and other remaining closing conditions. Both Leggett and Somnigroup have said they expect the transaction to close once those conditions have been satisfied. See also: Leggett CEO: Somnigroup deal 'good outcome' amid industry shift Somnigroup CEO: $2.5B Leggett deal to speed innovation, cut costs In April, Somnigroup announced its agreement to acquire Leggett & Platt in an all-stock transaction that would bring one of the bedding industry's largest component suppliers under the same corporate umbrella as Tempur Sealy, Mattress Firm and other Somnigroup businesses. Under terms of the agreement, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt common stock they own. Upon completion of the transaction, Leggett & Platt shareholders are expected to own approximately 9% of the combined company on a fully diluted basis. The shareholder vote follows the June expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, another regulatory milestone for the transaction, in June. Once the merger closes, Leggett & Platt is expected to operate as a separate business unit within Somnigroup and maintain its headquarters in Carthage, Mo. Somnigroup owns Tempur-Pedic, Sealy and Stearns & Foster and is the parent company of Mattress Firm.
On August 14, 2026, it was reported, Dillard's Q2 retail sales rose less than 1% year on year to $1.5 billion, with comps up 1%, the company said Thursday. Women's accessories and lingerie sales rose significantly; home rose moderately; and shoes, beauty and men's rose slightly. Sales of children's, juniors and women's apparel fell moderately. The bottom line got a boost from $37.2 million in tariff refunds, which furnished 260 of the 280 basis-point gross margin increase. Gross margin reached 40.9%, and net income, including proceeds from real estate sales, rose 34% to $97.7 million. Dillard's may not have made many more sales compared to a year ago, but it avoided discounts, kept its customers close and, according to GlobalData research, took market share from rival department stores. "Our 1% sales increase points to a somewhat resilient consumer," CEO William Dillard said in a statement. The 1% comp increase beat expectations from UBS analysts, who had expected flat comps. The UBS Evidence Lab's pricing analysis found Dillard's discounting flat year on year. Protecting price did leave some clothes on racks, though, as customers have grown more choosy in an environment defined by rising gas and grocery costs. Inventory at quarter end was up 5% year over year. Some sales of children's apparel probably did go to value retailers, however, Saunders said in emailed comments. Still, margins benefited, as gross margin expanded even without accounting for tariff refunds. The inventory pile-up reflects the tightrope retailers are walking at a time when consumers and retailers both face rising costs.
