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Bob's Discount Furniture

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Coordinates: 41°48′30″N 72°31′25″W / 41.80833°N 72.52361°W / 41.80833; -72.52361
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Bob's Discount Furniture
Company typePrivate
IndustryFurniture retail
FoundedDecember 13, 1991; 32 years ago (December 13, 1991)
FoundersBob Kaufman
Gene Rosenberg[1]
Headquarters
Manchester, Connecticut
,
U.S.
Number of locations
126 stores (Feb. 2020)[2]
Area served
[3][4]
Key people
Edmond (Ted) J. English (Executive Chairman)
Bill Barton (President & CEO)[3][5]
Jeremy Aguilar CFO
Stephen Nesle (CMO)[6]
Michael Hoffman (EVP Marketing)[7]
John Weldon (COO)
ProductsFurniture, Bedding, Mattresses
RevenueIncrease US$ 1.158 billion (2016)[8]
OwnerBain Capital[9][10][11][12]
Number of employees
1,000 (2019)[13]
Websitewww.mybobs.com
For the clothing retailer, see Bob's Stores.

Bob's Discount Furniture is an American furniture store chain headquartered in Manchester, Connecticut. Bob's Discount Furniture was founded in 1991 with its first store in Newington, Connecticut[1] and is ranked 12th in sales among United States furniture stores according to Furniture Today's list of Top 100 Furniture Stores.[14] As of February 2020, the company has 126 stores in 20 states, primarily in the Northeast, Mid-Atlantic, Midwest, and West Coast.

History

In 1976, future company co-founder Bob Kaufman was injured in a motorcycle accident. He discovered the benefits of a waterbed for recuperation.[1][15] The experience inspired Kaufman to become involved with waterbed sales, and during the 1980s, he rented space in 24 New England stores for selling waterbeds.[1][15] By 1990, waterbed sales had dwindled, and Kaufman partnered with Gene Rosenberg, owner of Wholesale Furniture, where Kaufman had rented space for waterbed sales. Rosenberg acquired a building in Newington, Connecticut that was previously owned by a furniture company that had become bankrupt.[1][15] In 1991, the Newington, Connecticut location became the first Bob's Discount Furniture store.[1][16][15] 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 bankrupted 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][16] 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.[10][11][12][16]

In November 2006, Ted English, former president and CEO of TJX Companies, became the CEO of Bob's Discount Furniture, replacing Stan Adelstein, who became chairman.[5][17][18] Adelstein retired in April 2013, with English taking over as chairman.[19] In late 2006, Bob's Discount Furniture expanded into Rhode Island, New Jersey, and New York. English led Bob's into its expansion further south into Maryland and Virginia.[17][20] 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 as a part of that deal.[21][22]

In 2016, Michael Skirvin was promoted from president and COO to president and CEO, replacing English, who remained with Bob’s Discount Furniture as executive chairman.[23]

Bob's Discount Furniture store in King of Prussia, Pennsylvania

In June 2020, Skirvin retired and English took the position back over as interim CEO. In October the position was permanently filled by William Barton of California Closets. [24]


Advertising

Bob's Discount Furniture is a prolific advertiser on both television and radio.[25] As of 1997, the company broadcast roughly 500 commercials a week in Connecticut on network and cable television stations.[1] By 2006, the commercials had become common during broadcasts of Boston Red Sox and New York Mets games.[26] 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 such as Cathy Poulin, the company's Director of Public Relations.[27][5][16][28][29] In 2005, “Little Bob,” a miniature version of Bob Kaufman, frequently appears in the company’s commercials.[30] The advertisements are frequently described as prolific,[31] wacky and goofy often containing catch phrases describing their “untouchable value.”[30]

Through corporate sponsorship programs, Bob’s Discount Furniture has worked with several professional sports teams, including the New England Patriots,[32] Pittsburgh Steelers,[33] New York Giants,[34] Los Angeles Chargers,[35] and Los Angeles Galaxy.[36]

Stores and products

Bob’s Discount Furniture has stores located in Maine, New Hampshire, Massachusetts, Connecticut, Rhode Island, New York, New Jersey, Maryland, Virginia, Pennsylvania, Delaware, Illinois, Indiana, Missouri, Michigan and Wisconsin.[37] The Midwest expansion came in the wake of H.H. Gregg's sudden liquidation, allowing Bob's to purchase the leases for those former buildings.[38] The company expanded to the West Coast in February 2018, picking up leases of former Sport Chalet and Sports Authority stores that closed in 2016.[39]

Around July 2020, Bob's expanded to the Phoenix metropolitan area in Arizona.[40]

Bob’s Discount Furniture locations include an in-store cafe with complimentary refreshments.[41][42][43] Some stores also have a back room with products that are considered imperfect; this area is called “The Outlet.”

Community involvement

Bob's Discount Furniture donates over $2.75 million per year to charitable causes through two initiatives, the Bob’s Discount Furniture Charitable Foundation and Bob’s Outreach program.[44] Through these efforts, the company has supported March of Dimes,[45] Autism Speaks,[46] Special Olympics,[47] Save the Children,[48] and Camp Rising Sun.[49][50][51]

The company has been recognized by the American Red Cross for its blood drives and financial contributions to the organization.[52][53] Bob's Discount Furniture has sponsored blood drives in partnership with professional American football teams including the New England Patriots[54] and the New York Giants.[55]

Through the company’s Random Acts of Kindness program, funds are donated to local schools and programs for children following the opening of a new store.[56][57][36][58]

Bob’s Discount Furniture operated a charity fundraising event for over 30 years. The event raised funds for a number of non-profit charities, including Nutmeg Big Brothers Big Sisters, Family & Children’s Aid, Connecticut Children’s Medical Center, and Camp Rising Sun.[59][60]

The company collects and matches in-store donations from its customers through their Café Collections for a Cause program. The program has supported non-profit charities including Autism Speaks,[61] Alex's Lemonade Stand Foundation,[62][63] and Special Olympics.[64]

In response to the damage caused by Hurricane Sandy in October 2012, Bob's Discount Furniture and its employees provided relief assistance. The company provided food, clothing and relief supplies as well as the trucks to deliver the items.[65]

References

  1. ^ a b c d e f g h i j k Ryan, Bill. Now About Bob and Those TV Spots... The New York Times. Section 14CN, Page 1. November 30, 1997.
  2. ^ "Bob's Discount Furniture Store Locations". Retrieved September 5, 2018.
  3. ^ a b Bob’s Discount Furniture Promotes Michael Skirvin to President & CEO. March 10, 2016. Last accessed April 28,2016.
  4. ^ Bob’s Discount Furniture coming to Southern California with 6 stores planned for 2018. December 06, 2017. Last accessed January 18,2018.
  5. ^ a b c Company profile[permanent dead link] from Hoover's, Inc.. Last accessed September 15, 2007.
  6. ^ "Bob's Discount Furniture Names Steve Nesle as CMO, Adam Kasper as Marketing VP, Stacey Karagiannis as eCommerce VP". Bulldog Reporter. Retrieved 30 December 2017.
  7. ^ "Michael Hoffman, Carol Glaser in expanded roles at Bob's". Furniture Today. Archived from the original on 2016-10-31. Retrieved 28 December 2017.
  8. ^ http://media.progressivebusinessmedia.com/file/4/4269-top-100-furniture-today.pdf?submissionGuid=9f107de2-45f4-46e5-9072-8f41591b4754
  9. ^ 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. ^ a b Saunders Karp & Megrue Completes Recapitalization of Bob's Discount Furniture (press release). January 31, 2005. Last accessed September 14, 2007.
  11. ^ a b Engel, Cliff. Firm buys 70% stake in Bob's. Furniture Today. February 7, 2005. Last accessed September 14, 2007.
  12. ^ a b French, Howard. Bob's moving into Rhode Island Archived September 25, 2006, at the Wayback Machine. Journal Inquirer. July 19, 2006. Last accessed September 14, 2007.
  13. ^ http://forbes.com/companies/bobs-discount-furniture/?list=best-midsize-employers/#f1c8b994eb00
  14. ^ "Who are the Top 100 Furniture Stores? | Furniture Today". www.furnituretoday.com. Retrieved 2018-04-18.
  15. ^ a b c d "About". 2008-07-31. Archived from the original on 31 July 2008. Last accessed September 14, 2007.
  16. ^ a b c d 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.
  17. ^ a b Cronin, Anthony. Former TJX CEO joining Bob's Discount Furniture. The Day (New London, CT). Business and Financial News. November 8, 2006.
  18. ^ Engel, Clint. Bob's Discount names TJX veteran English to CEO post Archived June 10, 2008, at the Wayback Machine. Furniture Today. November 13, 2006. Last accessed September 14, 2007.
  19. ^ "Stan Adelstein retires as Bob's Discount Furniture chairman - Furniture Today". www.furnituretoday.com. Retrieved 3 January 2018.
  20. ^ "Booming Bob's | Homegrown TV Ads And Product Value Doubles Furniture Seller's Growth". Hartford Business Journal. Retrieved 2018-01-19.
  21. ^ "Bob's Discount Furniture to Be Acquired by Bain Capital". Retrieved 3 January 2018.
  22. ^ Abrams, Rachel. "Bain to Buy Control of Bob's Discount Furniture". DealBook. Retrieved 2018-01-19.
  23. ^ "Bob's Discount Furniture names CEO |Chain Store Age". Chain Store Age. 2016-03-10. Retrieved 2018-01-19.
  24. ^ https://www.furnituretoday.com/welcome-ad/?retUrl=/furniture-retailing/bobs-discount-furniture-taps-former-california-closets-exec-as-new-president-ceo/
  25. ^ "Bob's Discount Furniture Kicks Off "Celebrate the Arts Contest"". Furniture World Magazine. Retrieved 2020-04-30.
  26. ^ Aucoin, Don. Bigmouth Strikes Again. The Boston Globe. Living, p. C3. July 8, 2006.
  27. ^ "Bob's Discount Furniture arrives at Broadcasting Square | Reading Eagle - MONEY". Reading Eagle. Retrieved 2018-01-19.
  28. ^ 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.
  29. ^ Gomez, Michael. It's Bob's World, We Just Sit in It. Business New Haven. March 20, 2000. Last accessed September 14, 2007.
  30. ^ a b "Bob's Discount Furniture invades Chicago market with multiple stores and goofy ads". www.bizjournals.com. Retrieved 2018-01-19.
  31. ^ "A 'No Phony Gimmicks' Guy". 75th Anniversary. Retrieved 2018-01-19.
  32. ^ "Patriots and Bob's donate 200 beds to kids in need". www.patriots.com. Retrieved 2019-05-16.
  33. ^ "Bringing support - and furniture - to those who need it". www.steelers.com. Retrieved 2019-05-16.
  34. ^ "Meet Giants alumni at Bob's Discount Furniture". www.giants.com. Retrieved 2019-05-16.
  35. ^ "Bob's Discount Furniture enters Los Angeles market with 6 stores in 2018". Furniture Today. 2017-10-18. Retrieved 2019-05-16.
  36. ^ a b "Bob's Discount Furniture | LA Galaxy". Retrieved 2019-05-16.
  37. ^ "Store Locations | Bob's Discount Furniture". www.mybobs.com. Retrieved 2018-01-19.
  38. ^ Ford-Stewart, Jane (7 February 2017). "Big discount furniture chain opening soon in Greenfield". Milwaukee Journal Sentinel. Retrieved 27 March 2019.
  39. ^ "Bob's Furniture Coming on Down to the West Coast". Manchester, CT Patch. 2018-02-09. Retrieved 2018-04-18.
  40. ^ https://www.bizjournals.com/phoenix/news/2020/07/30/bob-s-discount-furniture-open-first-phoenix-stores.html
  41. ^ "Bob's Discount Furniture Opens in Burbank". Oak Lawn, IL Patch. 2016-02-10. Retrieved 2018-01-19.
  42. ^ Burke, Michael. "Bob's Discount Furniture opens at Regency Mall". Journal Times. Retrieved 2018-01-19.
  43. ^ "Bob's Discount Furniture arrives at Broadcasting Square | Reading Eagle - MONEY". Reading Eagle. Retrieved 2018-01-19.
  44. ^ "About Us | Bob's Cares". www.bobscares.org. Archived from the original on 2018-01-20. Retrieved 2019-05-16.
  45. ^ "Ready. Set. March for Babies! | March of Dimes". www.marchofdimes.org. Retrieved 2019-05-16.
  46. ^ "Bob's Discount Furniture". Autism Speaks. Retrieved 2019-05-16.
  47. ^ "Bob's Discount Furniture presents $75k Check to Special Olympics | Furniture Today". www.furnituretoday.com. Retrieved 2018-01-19.
  48. ^ "Bob's Discount Furniture gives $45,000 to Save the Children | Furniture Today". www.furnituretoday.com. Retrieved 2018-01-19.
  49. ^ "About Us | Bob's Cares". www.bobscares.org. Archived from the original on 2018-01-20. Retrieved 2018-01-19.
  50. ^ "Charitable Giving Series: Bob's Creative Giving | Furniture World Magazine". Furniture World Magazine. Retrieved 2018-01-19.
  51. ^ "KIDS: Resources for Parents". www.ct.gov. Retrieved 2019-05-16.
  52. ^ Red Cross salutes Bob's Discount Archived June 10, 2008, at the Wayback Machine. Furniture Today. June 29, 2005. Last accessed September 14, 2007.
  53. ^ Mybobssquad.com Archived September 11, 2007, at the Wayback Machine
  54. ^ "Bob's Discount, Red Cross, New England Patriots Team Up for Blood Drive". Home Furnishings News. 2013-12-04. Retrieved 2020-04-30.
  55. ^ "Giants hosting annual blood drive Saturday". Archived from the original on 2018-01-04. Retrieved 3 January 2018.
  56. ^ Bong, Bob. "Bob's Discount Furniture set to open 5 stores". Daily Southtown. Retrieved 2019-05-16.
  57. ^ Asaba, Jeni. "Bob's Furniture donates laptops to M.S. 206". Bronx Times. Retrieved 2019-05-16.
  58. ^ "Charitable Giving Series: Bob's Creative Giving". Furniture World Magazine. Retrieved 2019-05-16.
  59. ^ "Bob's Discount Furniture announces 30th Annual Golf Outing | Furniture Today". www.furnituretoday.com. Retrieved 2018-01-19.
  60. ^ Hall, Claire (2016-08-03). "A 'No Phony Gimmicks' Guy". 75th Anniversary. Retrieved 2019-05-16.
  61. ^ "Bob's Discount Furniture donates $100,000 to Autism Speaks". Hartford Business Journal. 2015-07-10. Retrieved 2019-05-16.
  62. ^ "Bob's Furniture/Alex's Lemonade Stand Campaign Nets $85,000". Manchester, CT Patch. 2018-11-30. Retrieved 2019-05-16.
  63. ^ Walker, Quoron. "Alex's Lemonade Stand Debuts At Bob's Discount Furniture". courant.com. Retrieved 2019-05-16.
  64. ^ Ameden, Danielle. "Special Olympics athletes compete in MetroWest Schools Games". Natick Bulletin and Tab. Retrieved 2016-04-28.
  65. ^ Council, Young Entrepreneur. "Why Your Brand Promise Is Nothing Without Delivery". Forbes. Retrieved 2019-05-16.

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

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