The Bob’s Discount Furniture logo can be seen above the store’s entrance in Paxton Town Center near Harrisburg.
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Bob’s Discount Furniture will begin trading on the New York Stock Exchange on Thursday after pricing its initial public offering at $17 per share.
This price was within Bob’s expected range of $17 to $19 per share.
The Manchester, Conn.-based company was founded in 1991 and has grown to 206 showrooms in 26 states as of Sept. 28, according to its S-1 filing. According to the filing, the company plans to more than double the number of stores to more than 500 locations by 2035.
Bob’s is known for selling low-priced sofas, rugs, dining tables, and other furniture. The company’s average order value per transaction, excluding in-store sales, is about $1,400, according to its S-1 filing. The retailer estimates its prices are on average about 10% lower than competitors’ lowest promotional prices for value-oriented furniture, or about 20% to 25% below list price.
The company said it relies on “curated merchandising strategies, long-standing sourcing relationships, and an efficient supply chain” to keep prices low, according to the filing. The company has about a third fewer items than its value-focused competitors, but orders more, according to the filing.
We also differentiate ourselves from other furniture retailers with faster shipping. Instead of customers waiting weeks or months, most purchases can be delivered in as little as three days, the company said in a filing.
The stock will trade on the New York Stock Exchange under the ticker symbol BOBS.
