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. 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. The companies have said the combination is expected to create a vertically integrated global bedding company spanning components, mattress manufacturing, brands and
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.
One month after pulling even in year-over-year sales, the furniture and home furnishings category again fell off pace according to the U.S. Department of Commerce's advance monthly estimates. It was the only measured category which showed a year-over-year decline. For the month, the category, which measures sales in brick-and-mortar stores, totaled an adjusted, estimated $11.35 billion, which was 1.2% off July 2025's adjusted $11.49 billion, but 0.3% ahead of June's preliminary, adjusted $11.32 billion. Year-to-date, the furniture and home furnishings stores category has tallied an unadjusted $76.89 billion in sales, which puts it 1.7% off 2025's pace. Furniture manufacturing returns to growth in July The full retail snapshot for the month showed adjusted, estimated sales of $763.6 billion, or 5% better than July 2025's adjusted $727.18 billion. However, July's totals were 0.6% worse than June's preliminary, adjusted $768.07 billion. Fueled by higher prices at the pump, gas stations surged ahead by 16.2% year-over-year while miscellaneous store retailers were up 10.7% and sporting goods, hobby, musical instrument and bookstores posted a 10.1% gain compared with 2025. Of interest to the furniture and home furnishings category, building material and garden equipment and supplies dealers posted a 6.7% gain vs. July 2025. The DOC's advance estimates are based on a sub-sample of the U.S. Census Bureau's full retail and food services sample. A stratified random sampling method is used to select approximately 5,500 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of more than 3 million retail and food services firms. On August 14, 2026, it was reported, Total monthly sales: $271.91B U.S. retail sales in July rose 5.4% year over year, with e-commerce up over 6%, according to figures released Friday by the U.S. Department of Commerce. The increase came on top of a 16% rise in fuel sales, driven largely by rising gas prices in the midst of the Iran war. It was tempered by inflation, though, as year-on-year volume growth was less than 2%, according to GlobalData research. Independence Day and early back-to-school shopping prompted purchases, he also said. Department store sales rose over 4%, electronics rose 5%, apparel rose 5.4%, and sporting goods and hobby stores rose 11%. Home sales were flat. Consumers are spending despite high prices, even though for some inflation has outpaced wage growth. Bank of America economists, speaking to reporters Thursday, said lower-income workers who changed jobs this year who tend to be younger and more likely to jump to higher-paying work are getting raises averaging about 10%. Plus, some households have reduced tax withholding to squeeze more out of their paychecks. This could be funding what some analysts see as consumers' determination to spend money on things that make them happy. Indeed, U.S. consumers aren't saving much right now, and credit card and buy now, pay later debt is up, GlobalData found. "This may seem contradictory when set against a more cautious mindset but, from our research we also see an increasing attitude of throwing caution to the wind," Saunders said. This sets up retailers well for the holidays, and the second half of the year in general, he said.
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.
