AI, M&A, and the New Consumer Mindset

Originally published December 1, 2025. This version was rebuilt from Census, Somnigroup and Ashley releases for the FIN archive, and the facts are as of that date.

The start of December 2025 brought three signals worth reading together. Store sales were holding up, the bedding supply chain was consolidating and shoppers were starting to buy furniture inside AI tools.

The short version

• Furniture store sales rose slightly in September after a weak August.
• Somnigroup proposed an all-stock deal for its key supplier Leggett & Platt.
• Ashley let shoppers search and check out inside Perplexity.

A small September gain

The Census Bureau's advance report, delayed by the government shutdown, showed furniture and home furnishings store sales up 0.6% from August and 1.2% from a year earlier in September. August had dropped 2.0% from July.

Modest growth was still growth. With confidence slipping and borrowing costs high, stores were relying on promotions and financing to keep tickets moving.

Somnigroup bids for Leggett & Platt

Somnigroup International proposed to buy Leggett & Platt for stock worth $12 a share, a 30.3% premium to Leggett's recent average price. Leggett makes springs and other components that much of the bedding industry relies on.

A combination would put a major component supplier, the largest mattress maker and the largest mattress retailer in one group. Other bedding makers that buy from Leggett would have reason to watch closely.

Update. In April 2026 the two companies signed a definitive merger agreement.

Ashley sells through an AI answer engine

Ashley launched a fully transactional shopping experience inside Perplexity, with checkout handled by PayPal. Shoppers could ask for recommendations, see products and complete the purchase without leaving the conversation.

It was one of the first large furniture retailers to sell this way. For smaller stores the lesson was less about building a chatbot and more about making sure product data is clean enough for these tools to read.

Heading into December

Sales were steady, suppliers were consolidating and the path to purchase was changing. None of that required a rebound to matter for the year ahead.

Related on FIN

• Furniture Shoppers Are Holding Back
• Furniture Store Sales Fell 2.7%. Every Other Category Grew.

Sources

• US Census Bureau, Advance Monthly Retail Trade Report, September 2025
• Somnigroup International, Somnigroup Proposes to Acquire Leggett & Platt in All-Stock Transaction
• Somnigroup International, Definitive agreement to acquire Leggett & Platt (April 2026)
• Ashley, Ashley Partners with PayPal to Provide AI-Powered Shopping Experience