The Bob’s Discount Furniture logo is seen above the entrance to its store at the Paxton Town Center near Harrisburg.
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Bob’s Discount Furniture will start trading on the New York Stock Exchange Thursday after pricing its initial public offering at $17 per share.
That price came in within Bob’s expected range of $17 to $19 per share.
The Manchester, Conn.-based company, which was founded in 1991, has grown to 206 showrooms across 26 states, as of Sept. 28, according to its S-1 filing. It plans to more than double that store count to more than 500 locations by 2035, the filing said.
Bob’s is known for selling lower-priced couches, rugs, dining room tables and other furniture. It has an average order value of about $1,400 per transaction, excluding sales at its outlets, according to its S-1 filing. The retailer estimates its prices are on average about 10% lower than its value-focused furniture competitors’ lowest promoted prices or about 20% to 25% below their listed prices.
To keep prices low, the company said it relies on a “curated merchandising strategy, longstanding sourcing relationships and efficient supply chain,” according to the filing. It carries roughly one-third fewer items than value-oriented competitors, but orders in larger quantities, the filing said.
It’s also tried to stand apart from other furniture retailers with quicker deliveries. Instead of customers waiting for weeks or months, most purchases can be delivered in as few as three days, the company said in the filing.
The stock will trade on the NYSE under the ticker symbol BOBS.
