Bob's Discount Furniture Explained
Bob's Discount Furniture is an American furniture store chain headquartered in Manchester, Connecticut. The company opened its first store in 1991 in Newington, Connecticut and is ranked 12th in sales among United States furniture stores according to Furniture Today's list of Top 100 Furniture Stores.[4] [5], the company has 150 stores in 24 US states, primarily in the Northeast, Mid-Atlantic, Midwest, and West Coast regions.
History
After the future company's co-founder, Bob Kaufman, was injured in a 1976 motorcycle accident, he discovered the benefits of a waterbed for recuperation. This led him to become involved in waterbed sales and, during the 1980s, he rented space in 24 New England stores to sell them. When waterbed sales dwindled by 1990, Kaufman partnered with Gene Rosenberg who owned Wholesale Furniture, one of the stores where Kaufman had rented space.[6] [7]
Together Kaufman and Rosenberg co-founded Bob's Discount Furniture with Rosenberg owning two-thirds of the company and Kaufman one-third. Rosenberg acquired a building in Newington, Connecticut, previously owned by a furniture company which had gone bankrupt, and re-opened it in 1991 as the first Bob's Discount Furniture store.[8]
Through the 1990s, the company added additional locations, often acquiring buildings that had been vacated by tenants bankrupted during the early 1990s US recession. By 1997, it had a dozen stores in Connecticut and two in western Massachusetts. Its ability to grow during its early years in spite of unfavorable economic conditions has been partially attributed to the extensive use of commercials.
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.[9] [10] [11] 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.[12] [13] [14] Adelstein retired in April 2013, and English took over as chairman.[15] In late 2006, the company expanded into Rhode Island, New Jersey, and New York followed by an expansion further south into Maryland and Virginia.[16]
In Q1 of 2014, Bob's Discount Furniture was acquired by Bain Capital, though its current management team continued to own a significant stake in the company.[17] [18] In 2016, Michael Skirvin was promoted from president and COO to president and CEO, replacing English who remained with the company as executive chairman.[19] In June 2020, Skirvin retired and English became interim CEO. In October 2020 the position was permanently filled by William Barton, formerly of California Closets.[20]
Advertising
Bob's Discount Furniture is a prolific advertiser on both television and radio.[21] In 1997, the company was broadcasting roughly 500 commercials a week in Connecticut on network and cable television stations. By 2006, the commercials had become common during broadcasts of Boston Red Sox and New York Mets games.[22] The commercials usually feature company president Bob Kaufman, typically wearing jeans and a golf shirt or turtleneck, and have also included employees such as Cathy Poulin, the company's Director of Public Relations.[23] [24] [25] Starting in 2004, by "Little Bob", a miniature version of Bob Kaufman, frequently appeared in the company's commercials.[26] The advertisements have been frequently described as wacky and goofy often containing catch phrases describing their "untouchable value".[27]
Through corporate sponsorship programs, Bob's Discount Furniture has worked with several professional sports teams, including the New England Patriots,[28] Pittsburgh Steelers,[29] New York Giants,[30] Los Angeles Chargers,[31] and Los Angeles Galaxy.[32]
Stores
, Bob's Discount Furniture has 150 locations in 24 US states.[33] The majority of these are in the Northeast, Mid-Atlantic, Midwest, and West Coast regions.[34] [35]
After its original markets in the Northeast and Mid-Atlantic, its Midwest expansion came in the wake of H.H. Gregg's sudden liquidation, allowing Bob's to purchase the leases for the bankrupt retailer's former locations.[36] 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.[37] Around July 2020, Bob's expanded to the Phoenix metropolitan area in Arizona.[38]
Bob's Discount Furniture locations include an in-store cafe with complimentary refreshments.[39] [40] 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.[41] Through these efforts, the company has supported March of Dimes,[42] Autism Speaks,[43] Special Olympics,[44] Save the Children,[45] and Camp Rising Sun.[46] [47] It has also been recognized by the American Red Cross for its financial contributions and sponsored blood drives,[48] [49] some in partnership with professional American football teams including the New England Patriots[50] and New York Giants.[51]
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.[52] [53] It also operated a charity fundraising event for over 30 years to raise 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.[54] The company collects and matches in-store donations from its customers through its Café Collections for a Cause program which supports non-profit charities including Autism Speaks,[55] Alex's Lemonade Stand Foundation,[56] [57] and the Special Olympics.[58]
External links
41.8083°N -72.5236°W
Notes and References
- Web site: July 21, 2016 . Bob's Discount Furniture Names Steve Nesle as CMO, Adam Kasper as Marketing VP, Stacey Karagiannis as eCommerce VP . December 30, 2017 . Bulldog Reporter.
- Engel . Clint . August 28, 2013 . Michael Hoffman, Carol Glaser in expanded roles at Bob's . live . https://web.archive.org/web/20161031101218/http://www.furnituretoday.com/article/392364-michael-hoffman-carol-glaser-in-expanded-roles-at-bobs . October 31, 2016 . December 28, 2017 . Furniture Today.
- Web site: 2019 . Bob's Discount Furniture . April 7, 2022 . Forbes.
- Engel . Clint . May 23, 2017 . Who are the Top 100 Furniture Stores? . April 18, 2018 . Furniture Today.
- Engel . Clint . May 2017 . Top furniture stores post another strong year . PDF . May 22-28, 2017 . 46-83 . April 7, 2022 . Furniture Today.
- News: Ryan . Bill . November 30, 1997 . Now About Bob and Those TV Spots... . Section 14CN, page 1 . . April 7, 2022.
- Web site: July 31, 2008 . About . dead . https://web.archive.org/web/20080731210731/http://www.mybobs.com/about/default.asp . July 31, 2008 . September 14, 2007 . Bob's Discount Furniture.
- News: Marks . Paul . February 1, 2005 . New Investors Have 'Come on Down' To Bob's . E1 . . live . September 15, 2007 . https://web.archive.org/web/20150929192116/http://pqasb.pqarchiver.com/courant/doc/256800670.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Feb%201,%202005&author=PAUL%20MARKS&pub=Hartford%20Courant&edition=&startpage=E.1&desc=NEW%20INVESTORS%20HAVE%20%60COME%20ON%20DOWN%27%20TO%20BOB%27S . September 29, 2015.
- Saunders Karp & Megrue Completes Recapitalization of Bob's Discount Furniture . January 31, 2005 . September 14, 2007 . dead . https://web.archive.org/web/20130821235239/http://www.apax.com/news/apax-news/2005/january/saunders-karp-amp-megrue-completes-recapitalisation-of-bob's-discount-furniture.aspx . August 21, 2013 . Apax Partners.
- Engel . Cliff . February 7, 2005 . Firm buys 70% stake in Bob's . dead . https://archive.today/20081215154733/http://www.furnituretoday.com/article/CA503425.html . December 15, 2008 . September 14, 2007 . Furniture Today.
- News: French . Howard . July 19, 2006 . Bob's moving into Rhode Island . . dead . September 14, 2007 . https://web.archive.org/web/20060925021400/http://www.journalinquirer.com/site/news.cfm?newsid=16941005&BRD=985&PAG=461&dept_id=161556&rfi=6 . September 25, 2006.
- Web site: Company profile . September 15, 2007 . Hoover's, Inc..
- News: Cronin . Anthony . November 8, 2006 . Former TJX CEO joining Bob's Discount Furniture . The Day . Business and Financial News . New London, Connecticut.
- Engel . Clint . November 13, 2006 . Bob's Discount names TJX veteran English to CEO post . dead . https://web.archive.org/web/20080610150858/http://www.furnituretoday.com/article/CA6391681.html . June 10, 2008 . September 14, 2007 . Furniture Today.
- Engel . Clint . April 2, 2013 . Stan Adelstein retires as Bob's Discount Furniture chairman . January 3, 2018 . Furniture Today.
- News: Bordonaro . Greg . February 1, 2010 . Booming Bob's Homegrown TV Ads And Product Value Doubles Furniture Seller's Growth . en-US . Hartford Business Journal . January 19, 2018.
- Bob's Discount Furniture to Be Acquired by Bain Capital . December 30, 2013 . Business Wire . January 3, 2018.
- News: Abrams . Rachel . December 30, 2013 . Bain to Buy Control of Bob's Discount Furniture . en . New York Times . DealBook . January 19, 2018.
- News: Troy . Mike . March 10, 2016 . Bob's Discount Furniture names CEO . en-US . Chain Store Age . dead . January 19, 2018 . https://web.archive.org/web/20180828034042/https://www.chainstoreage.com/news/bobs-discount-furniture-names-ceo/ . August 28, 2018.
- Elliott . Adelaide . October 13, 2020 . Bob’s Discount Furniture taps former California Closets exec as new president, CEO . April 7, 2022 . Furniture Today.
- Bob's Discount Furniture Kicks Off "Celebrate the Arts Contest" . September 11, 2007 . Furniture World . April 30, 2020 . Bob's Discount Furniture.
- News: Aucoin . Don . July 8, 2006 . Bigmouth Strikes Again . C3 . . Living.
- News: Jones . Evan . September 4, 2015 . Bob's Discount Furniture arrives at Broadcasting Square . en . Reading Eagle . January 19, 2018.
- News: Fillo . Maryellen . September 23, 2006 . Is Bob's Sidekick Gone? I Doubt It! . D2 . . Life . dead . September 14, 2007 . https://web.archive.org/web/20170801072918/https://pqasb.pqarchiver.com/courant/doc/257074208.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Sep%2023,%202006&author=MARYELLEN%20FILLO&pub=Hartford%20Courant&edition=&startpage=D.2&desc=IS%20BOB%27S%20SIDEKICK%20GONE?%20I%20DOUBT%20IT! . August 1, 2017.
- News: Gomez . Michael . March 20, 2000 . It's Bob's World, We Just Sit in It . Business New Haven . dead . September 14, 2007 . https://web.archive.org/web/20150412041316/http://www.conntact.com/archive_index/archive_pages/1839_Business_New_Haven.html . April 12, 2015.
- News: Lazare . Lewis . January 19, 2016 . Bob's Discount Furniture invades Chicago market with multiple stores and goofy ads . Chicago Business Journal . Business Journals . January 19, 2018.
- News: Hall . Claire . August 3, 2016 . A 'No Phony Gimmicks' Guy . en-US . 75th Anniversary . University of Connecticut School of Business . January 19, 2018.
- Web site: Fiske . Angelique . August 14, 2018 . Patriots and Bob's donate 200 beds to kids in need . May 16, 2019 . New England Patriots . en-US.
- Bringing support – and furniture – to those who need it . en-US . May 16, 2019 . Pittsburgh Steelers.
- Web site: April 23, 2014 . Meet Giants alumni at Bob's Discount Furniture . May 16, 2019 . New York Giants . en-US.
- October 18, 2017 . Bob's Discount Furniture enters Los Angeles market with 6 stores in 2018 . en-US . May 16, 2019 . Furniture Today.
- Web site: Bob's Discount Furniture . dead . https://web.archive.org/web/20190516200135/https://www.lagalaxy.com/club/partners/bobs-discount-furniture . May 16, 2019 . May 16, 2019 . LA Galaxy.
- News: Kelly . Brianna . March 17, 2022 . Bob's Discount Furniture opening third Minnesota store in Roseville . Minneapolis/St. Paul Business Journal . Business Journals . April 7, 2022.
- Bob’s Discount Furniture Promotes Michael Skirvin to President & CEO . March 10, 2016 . Business Wire . April 28, 2016.
- News: Gowen . Samantha . October 20, 2017 . Bob’s Discount Furniture coming to Southern California with 6 stores planned for 2018 . Orange County Register . January 18, 2018.
- News: Ford-Stewart . Jane . February 7, 2017 . Big discount furniture chain opening soon in Greenfield . . March 27, 2019.
- News: Dehnel . Chris . February 9, 2018 . Bob's Furniture Coming on Down to the West Coast . en-US . Patch . Manchester, CT . April 18, 2018.
- Web site: Brown . Brandon . July 30, 2020 . Bob’s Discount Furniture to open four Phoenix-area stores . April 7, 2022 . Phoenix Business Journal . Business Journals.
- News: Swanson . Lorraine . February 10, 2016 . Bob's Discount Furniture Opens in Burbank . en-US . Patch . Oak Lawn, IL . January 19, 2018.
- News: Burke . Michael . February 15, 2017 . Bob's Discount Furniture opens at Regency Mall . en . Journal Times . January 19, 2018.
- Web site: About Us . dead . https://web.archive.org/web/20180120070629/http://www.bobscares.org/index.php?id=2828&title=about-us . January 20, 2018 . May 16, 2019 . Bob's Cares.
- Ready. Set. March for Babies! . April 7, 2015 . May 16, 2019 . March of Dimes.
- Web site: Bob's Discount Furniture . May 16, 2019 . Autism Speaks . en.
- Bob's Discount Furniture presents $75k Check to Special Olympics . June 26, 2017 . Furniture Today . January 19, 2018.
- January 27, 2015 . Bob's Discount Furniture gives $45,000 to Save the Children . January 19, 2018 . Furniture Today.
- Bienenstock . Russell . September 25, 2012 . Charitable Giving Series: Bob's Creative Giving . September/October . 142 . 5 . January 19, 2018 . Furniture World.
- Web site: KIDS: Resources for Parents . 2019-05-16 . State of Connecticut . ConneCT Kids.
- June 29, 2005 . Red Cross salutes Bob's Discount . dead . https://web.archive.org/web/20080610150853/http://www.furnituretoday.com/article/CA622266.html . June 10, 2008 . September 14, 2007 . Furniture Today.
- Web site: Bob Squad History . dead . https://web.archive.org/web/20070911212304/http://www.mybobssquad.com/history/default.asp . September 11, 2007 . April 7, 2022 . The Bob Squad.
- News: December 4, 2013 . Bob's Discount, Red Cross, New England Patriots Team Up for Blood Drive . en-US . Home Furnishings News . April 30, 2020.
- Web site: July 16, 2014 . Giants hosting annual blood drive Saturday . dead . https://web.archive.org/web/20180104015434/http://www.giants.com/news-and-blogs/article-1/Giants-hosting-annual-blood-drive-Saturday/81c5dea1-e36e-4c80-b4a1-41f71db64ae5 . January 4, 2018 . January 3, 2018 . New York Giants.
- News: Bong . Bob . February 2, 2016 . Bob's Discount Furniture set to open 5 stores . en-US . Chicago Tribune . Daily Southtown . 2019-05-16.
- Web site: Asaba . Jeni . June 28, 2008 . Bob's Furniture donates laptops to M.S. 206 . dead . https://web.archive.org/web/20190516200124/https://www.bxtimes.com/stories/2008/26/doc48664b95e8cdd396794004.html . May 16, 2019 . May 16, 2019 . Bronx Times . en.
- Bob's Discount Furniture announces 30th Annual Golf Outing . June 5, 2017 . Furniture Today . January 19, 2018.
- News: August 10, 2015 . Bob's Discount Furniture donates $100,000 to Autism Speaks . Hartford Business Journal . May 16, 2019.
- News: Dehnel . Chris . November 30, 2018 . Bob's Furniture/Alex's Lemonade Stand Campaign Nets $85,000 . en . Patch . Manchester, CT . May 16, 2019.
- News: Walker . Quoron . July 18, 2018 . Alex's Lemonade Stand Debuts At Bob's Discount Furniture . Hartford Courant . May 16, 2019.
- News: Ameden . Danielle . April 15, 2016 . Special Olympics athletes compete in MetroWest Schools Games . Natick Bulletin and Tab . Wicked Local . April 28, 2016.