Bob's Discount Furniture

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Bob's Discount Furniture
Type Private
Industry Furniture retail
Founded 1991
Founders Bob Kaufman and Gene Rosenberg[1]
Headquarters Manchester, Connecticut, U.S.
Number of locations 53 stores (2014)[2]
Area served Eastern United States
Key people Robert (Bob) Kaufman (president emeritus)
Edmond J. (Ted) English (CEO)
Mike Skirvin (President and COO)
[3]
Products Furniture, Bedding, Mattresses
Revenue Increase US$ 329.3 million (2006)[4]
Owners Bain Capital[5][6][7][8]
Employees 2,500(2011)[9]
Website www.mybobs.com

Bob's Discount Furniture is a privately owned regional chain of furniture stores along the Eastern United States, primarily in the Northeastern United States. Bob's Discount Furniture started in Connecticut and its corporate headquarters are in Manchester, CT. The company has stores located in Maine, New Hampshire, Massachusetts, Connecticut, Rhode Island, New York, New Jersey, Maryland, Virginia, Pennsylvania and Delaware. Bob's Discount Furniture has continued to expand in 2014. Three stores in the greater Philadelphia area opened on February 13, 2014,[10] one store in Freehold, NJ opened on May 22, 2014,[11] one store in Wilkes-Barre, PA opens on August 28, 2014 and one store in Riverhead, NY.[12] This brings Bob's total to 53 stores and counting.

The company was founded in 1991 with its first store in Newington, Connecticut.[1] Bob's Discount Furniture is based in Manchester, Connecticut and is ranked 14th among U.S. furniture stores.[13] In addition to being known for its distinctive advertisements, the company is also known for offering amenities at many of its stores, which may include an in-store cafe with complimentary refreshments. Many of the stores have a back room where people can get items that are considered imperfect; this area is playfully called The Pit.[2][14][15]

History[edit]

In 1976, future company co-founder Bob Kaufman was injured in a motorcycle accident; Bob discovered the benefits of a waterbed for recuperation.[1][16] The experience inspired Kaufman to become involved with waterbed sales, and during the 1980s, he had rented space in 24 New England stores for selling waterbeds.[1][16] By 1990, waterbed sales had dwindled and Kaufman partnered with Gene Rosenberg (owner of Wholesale Furniture, where Kaufman had rented space for waterbed sales); at this point, Rosenberg acquired a building in Newington, Connecticut previously owned by a furniture company that had become bankrupt.[1][16] In 1991, the Newington, Connecticut location became the first Bob's Discount Furniture store.[1][9] The company was initially co-owned by Rosenberg (two-thirds) and Kaufman (one-third).[1] As time progressed, the company expanded to additional locations, often acquiring buildings that had been vacated by tenants bankrupt during the recession.[1] By 1997, the company operated a dozen stores in Connecticut and two in western Massachusetts.[1] The company's ability to grow during its early years in spite of unfavorable economic conditions has been partially attributed to the extensive use of commercials.[1][9] In early 2005, the investment firm Saunders Karp & Megrue acquired 70 percent ownership of Bob's Discount Furniture; subsequently, Saunders Karp & Megrue was acquired by Apax Partners Worldwide in March 2005.[6][7][8][9] In November 2006, Edmond (Ted) English, former president and CEO of TJX Companies, became the CEO of Bob's Discount Furniture, replacing Stan Adelstein, who became chairman.[3][15][17] Adelstein retired in April 2013, with English taking over as chairman.[18] By this point, Bob's Discount Furniture had recently expanded into Rhode Island, New Jersey, and New York. Ted has led Bob's into its expansion further south into Maryland and Virginia.[15] In Q1 of 2014, Bob's Discount Furniture was acquired by Bain Capital, with the current management team continuing to own a significant stake in the company [19]

Bob's Discount Furniture store in Pennsylvania

Advertising[edit]

Bob's Discount Furniture is widely recognized for its idiosyncratic advertising. Bob Kaufman has been characterized as "something of a celebrity in the Northeast, thanks to his quirky television commercials".[3] As of 1997, the company broadcast roughly 500 commercials a week in Connecticut on network and cable television stations.[1] More recently, the commercials have become common during broadcasts of Boston Red Sox & New York Mets games.[20] The commercials usually feature company president Bob Kaufman, typically wearing jeans and a golf shirt or turtleneck, and have also included Bob's Discount Furniture employees. Cathy Poulin, the company's Director of Public Relations, is the female face of the company. Cathy appears in commercials and at events both with and without Bob.[3][9][21][22] "Spanish Bob" William Newton appears in Bob's Discount Furniture commercials on Spanish stations, such as Telemundo.[23] "Clay Bob" makes frequent appearances in the company's commercials, often providing seasonal advertisements. The commercials have been characterized as "amateurish",[22] "unconventional",[14] and "wacky",[14] and viewer reaction to the commercials is mixed, with some disliking the advertisements.[1] The advertisements often feature catchphrases, including "Gotcha!", "Untouchable!", "Lickety-split delivery!", "It's a no-brainer!", and most famous (in Bob's early years), "Come on down!".[1][22]

Community involvement[edit]

Bob's Discount Furniture has received attention for its community involvement. The company has been recognized by the American Red Cross for its blood drives and financial contributions to the organization.[24][25] It has also been involved in food drives and charity walks, and conducts a "Celebrate the Arts Contest" to provide grants to regional schools.[26][27][28] Bob's commercial sidekick, Cathy Poulin, Director of Outreach and Public Relations, drives a "Random Acts of Kindness" van to places in need in the communities served by the stores.[7]

In December 2008, Bob's Discount Furniture donated a household full of furniture to the family in Voluntown, Connecticut receiving an ABC Extreme Home Makeover. In March 2011, the intensive care unit waiting rooms at the Rhode Island Hospital received $25,000 worth of furniture donated by the company. In April 2012, it donated $45,000 in gift cards to the Make-A-Wish Foundation to aid in fundraising efforts.

In response to the devastation to New York and New Jersey caused by Hurricane Sandy in October 2012, Bob's Discount Furniture and its employees have provided relief assistance in the following ways:

  • provided trucks to transport food, clothing and other relief supplies collected in New Milford, CT by employee Peter Sorrentino’s sister Tracey. Mr. Sorrentino, Bob’s Director of Delivery Operations, coordinated volunteer drivers and Bob’s 26-foot box trucks to bring the donations to New York City
  • donated 464 pillows to the evacuated nursing home patients who were temporarily sheltered at New York City’s Brooklyn Technical High School
  • donated 1400 turkeys for Thanksgiving, with employees from all 43 stores donating an additional 1,200 turkeys or more. The turkey donations were split between Island Harvest (Long Island’s largest hunger-relief organization), and the Community Food Bank of New Jersey (serves 20 of NJ’s 21 counties)

Café Collections for a Cause
At each Bob’s Discount Furniture Café, a statue of Bob collects thousands of dollars from its customers for a different non-profit charity each quarter. In 2014, Bob’s has already collected and presented 100% of these donations to two charities: - Special Olympics – January 2014 to March 2014 - $30,000 [29] - Autism Speaks – March 2014 to July 2014 - $50,000 [30] All third quarter donations will be donated to The Pajama Program.

High School Heroes & Blood Drives
Since 1996, Bob Kaufman has been supporting the American Red Cross in New England by hosting blood drives in store locations.[31] Over the years, Bob’s has also sponsored blood drives in partnership with sports teams like the New England Patriots [32] and the New York Giants.[33] This commitment has led to the creation of the Bob’s Discount Furniture High School Heroes program, which awards a total of $250,000 in college scholarships to students who organize, promote, and host at least two high school blood drives in a year. The program, which gives high schools in Connecticut, Massachusetts, New York, and New Jersey the ability to compete with other schools, awards scholarships from $250 up to $1,000 to individual students, based on a school’s participation rate and total units of blood collected.[34] In total, Bob’s Discount Furniture’s support of New England blood drives has resulted in almost 40,000 units of blood.[31]

Bob’s Golf Outing
In 1991, Bob’s Discount Furniture became an event partner of an annual charity Golf Outing with Planned Furniture Promotions. Money raised from event goes directly to a number of non-profit charities, including Cardinal Cushing Centers, Connecticut Children’s Medical Center, Family & Children’s Aid, Prudence Crandall Center, the Jimmy Fund and Nutmeg Big Brothers Big Sisters.[35] The 27th annual outing raised more than $440,000 in July 2014.[36]

Bob’s Discount Furniture gives $2 million a year to various charitable causes.[11]

Vendors[edit]

Bob's Discount Furniture offers a warranty plan for all furniture products, marketed as Goof Proof Protection. This warranty is fulfilled by a third-party, Guardian Protection Products.

References[edit]

  1. ^ a b c d e f g h i j k l m Ryan, Bill. Now About Bob and Those TV Spots... The New York Times. Section 14CN, Page 1. November 30, 1997.
  2. ^ a b Bob's Discount Furniture Celebrates The Opening Of Its 30th Location Next Thursday, August 30th In Monmouth Junction, New Jersey. August 23, 2007. Last accessed September 14, 2007.
  3. ^ a b c d Company profile from Hoover's, Inc.. Last accessed September 15, 2007.
  4. ^ Top 100 U.S. Furniture Stores. Furniture Today. May 28, 2007. Volume 31, Issue 37, p. 26.
  5. ^ New Investors Have 'Come on Down' To Bob's Discount Furniture (article preview). The Hartford Courant. February 1, 2005. E1. Last accessed September 15, 2007.
  6. ^ a b Saunders Karp & Megrue Completes Recapitalization of Bob's Discount Furniture (press release). January 31, 2005. Last accessed September 14, 2007.
  7. ^ a b c Engel, Cliff. Firm buys 70% stake in Bob's. Furniture Today. February 7, 2005. Last accessed September 14, 2007.
  8. ^ a b French, Howard. Bob's moving into Rhode Island. Journal Inquirer. July 19, 2006. Last accessed September 14, 2007.
  9. ^ a b c d e Marks, Paul. New Investors Have 'Come on Down' To Bob's Discount Furniture (article preview). The Hartford Courant. February 1, 2005. E1. Last accessed September 15, 2007.
  10. ^ [1]
  11. ^ a b [2]
  12. ^ [3]
  13. ^ [4]
  14. ^ a b c Netter, Sarah. More than prices are down-to-earth at Bob's. Journal Inquirer. May 30, 2002.
  15. ^ a b c Cronin, Anthony. Former TJX CEO joining Bob's Discount Furniture. The Day (New London, CT). Business and Financial News. November 8, 2006.
  16. ^ a b c http://www.mybobs.com/about/default.asp Last accessed September 14, 2007.
  17. ^ Engel, Clint. Bob's Discount names TJX veteran English to CEO post. Furniture Today. November 13, 2006. Last accessed September 14, 2007.
  18. ^ [5]
  19. ^ [6]
  20. ^ Aucoin, Don. Bigmouth Strikes Again. The Boston Globe. Living, p. C3. July 8, 2006.
  21. ^ Fillo, Maryellen. Is Bob's Sidekick Gone? I Doubt It! (article preview). The Hartford Courant. Life section. September 23, 2006. Last accessed September 14, 2007.
  22. ^ a b c Gomez, Michael. It's Bob's World, We Just Sit in It. Business New Haven. March 20, 2000. Last accessed September 14, 2007.
  23. ^ Fillo, Maryellen. Java. The Hartford Courant. Life section, p. D2. August 9, 2007.
  24. ^ Red Cross salutes Bob's Discount. Furniture Today. June 29, 2005. Last accessed September 14, 2007.
  25. ^ Mybobssquad.com
  26. ^ Bob's Furniture to collect food for local food banks (article preview). Nashua Telegraph. August 30, 2004. Last accessed September 14, 2007.
  27. ^ Collins, Megan. Furniture store's grant will help Pleasant Valley Elementary's arts program. Journal Inquirer. September 9, 2006. Last accessed September 15, 2007.
  28. ^ Bob's Discount Furniture
  29. ^ [7]
  30. ^ [8]
  31. ^ a b [9]
  32. ^ [10]
  33. ^ [11]
  34. ^ [12]
  35. ^ [13]
  36. ^ [14]

External links[edit]

Coordinates: 41°48′30″N 72°31′25″W / 41.80833°N 72.52361°W / 41.80833; -72.52361