On September 15, 2025, it was reported, after 97 years as a family-owned business and three generations, DeYoung Interiors will close its doors following total liquidation and sale of its building, a decision prompted by the owner's retirement. Furniture promotional sales specialist Planned Furniture Promotions is managing the going-out-of-business event for DeYoung Interiors and working family and staff to ensure customers continue to experience the same care and quality that have defined the store for nearly a century. DeYoung Interiors was founded in 1928 as DeYoung Furniture and Funeral Home by Nick and Cora DeYoung. The couple transitioned the business into a full-line home furnishings store in 1959, and when they retired in the 1960s, their sons Sidney, Gerhard and Arnold took over the business. In 1972, the next generation of sons and sons-in-law John and Gerald DeYoung, Robert Scheuneman and Tom McGehee became co-owners, leading the company through four decades of success. Ten years ago, John DeYoung took sole ownership, running it with the help of his son, Kyle DeYoung. And now the senior DeYoung is ready to retire. In addition to its original South Holland location, a second store in Lansing, Ill., opened in 1939. In 2005, the family consolidated both operations into its current showroom in St. John. DeYoung Interiors opens its going-out-of-business sale on Sept. 18. The 28,000-square-foot building is for sale, and interested parties may contact John DeYoung at (219) 365-8362.
On August 21, 2025, it was reported, Claire's has paused store closures in light of a deal, announced Wednesday, to sell its North America operations. The retailer had plans to shutter 700 stores and was mulling liquidation of its entire 1,500-store footprint in North America. An affiliate of private equity firm Ames Watson has agreed to acquire the tween accessories retailer, including its intellectual property, for $104 million in cash plus a $36 million seller note, per court documents. The firm will also assume certain liabilities, including cure costs, and pay some rent and wages for "a significant number of [Claire's] employees." Claire's filed for bankruptcy earlier this month. This deal will come as a surprise to some, given how Claire's struggled for months to find a buyer, before and after heading back to bankruptcy court this month. The retailer previously filed under Chapter 11 in 2018. With Ames Watson's agreement to acquire at least 795 Claire's stores in North America and potentially as many as 950 nearly all store employees plus many at the retailer's headquarters will keep their jobs, per court documents. The deal which comes with a "fiduciary out" if Claire's gets a better offer also allows the retailer to fully pay down its asset-based loan, per court documents. Ames Watson co-founder Lawrence Berger in a statement called Claire's an "iconic brand." The private equity firm also owns or has invested in Lids, Champion, South Moon Under and Fanatics, among other brands. The sale is subject to approval by courts in the U.S. and Canada and customary closing conditions.
On August 20, 2025, it was reported, after more than a decade, Target CEO Brian Cornell will exit the position effective Feb. 1, 2026. Chief Operating Officer Michael Fiddelke has been tapped to take over the chief executive role. A COO replacement will be announced at a later date. After stepping down, Cornell will serve as executive chair of Target's board of directors. He helped Target become a more than $100 billion company and increased revenue by $34 billion in 11 years, per a statement from Christine Leahy, lead independent director of Target's board of directors. The executive joined Target in 2014, marking the first time the company hired a CEO externally. Cornell had most recently served as the CEO of PepsiCo Americas Foods division since 2012 and before that was the CEO of Walmart's Sam's Club. Going forward the company appears confident in Fiddelke's capabilities. "Over the last several years, the Board has been executing a deliberate and thoughtful CEO succession process, including an extensive external search and assessment of many strong candidates," Leahy said in the statement. "It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company's strategy, and reestablish Target's position as a leader in the highly dynamic and fast-moving retail environment. Michael's tenure gives him unmatched enterprise insight and a base of strong team trust. But what sets him apart is how he combines those strengths with a 'fresh eyes' mindset, challenging the status quo to evolve how the business operates, differentiates and delivers long-term value." Cornell's departure marks a turning point in Target's effort to return to growth and revive the "Tarzhay" brand.
On August 18, 2025, it was reported, online retailing giant Amazon widened the gap between itself and the other companies in the Top 25 Retailers, broadening its share to 24% and giving the direct-to-consumer (DTC). Amazon was one of just five companies that experienced an increase in furniture, bedding and accessories (FBA) sales in 2024, according to Furniture Today/Strategic Insights. Walmart, which includes sales from its Sam's Club warehouse division; manufacturer-branded retailer Ashley; TJX Cos., which encompasses T.J. Maxx, Marshalls, HomeGoods and Homesense stores; and warehouse club Costco, all experienced growth in the FBA segment. These five companies also represented five of top six retailers for 2024, with only No. 2 Wayfair seeing a slight drop in its sales. The DTC segment rose to almost $38 billion and nearly 36% of the total, with contributions after Amazon's $22.1 billion from Wayfair, ($7.8 billion); Qurate Retail ($1.6 billion), which includes video commerce sellers QVC and HSN; and Beyond Inc. ($1 billion). Lifestyle stores held onto the second largest share of the pie at 15.4%. However, this was down from last year, when the same five retailers Williams-Sonoma, Ikea, RH, Crate & Barrel and Arhaus accounted for 16.6% of the total. Absent from the roster of discounters is Big Lots, which began closing stores in 2024. In place of Big Lots, traditional furniture retailer Havertys was added to the Top 25. The consummation of the Mattress Firm/Tempur Sealy deal and the creation of the Somnigroup International, which encompasses both, will likely provide a numbers boost to the bedding specialty category. Likewise, the acquisition of Dufresne Spencer Group by Ashley Global Retail.
