The Bob's Discount Furniture logo is seen above the entrance to its store 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.
That price was within Bob's expected range of $17 to $19 per share.
The Manchester, Connecticut-based company, founded in 1991, has grown to 206 showrooms in 26 states, as of Sept. 28, according to its S-1 filing. It plans to double that number of stores to more than 500 locations by 2035, according to the document.
Bob's is known for selling sofas, rugs, dining tables, and other furniture at lower prices. 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 that its prices are on average about 10% lower than the lowest advertised prices of its value-focused furniture competitors or about 20% to 25% below their list prices.
To keep prices low, the company said it relies on a “selected marketing strategy, long-standing sourcing relationships and an efficient supply chain,” according to the document. It carries about a third fewer items than its value-oriented competitors, but orders in larger quantities, according to the document.
It has also tried to differentiate itself from other furniture retailers with faster deliveries. Instead of customers waiting weeks or months, most purchases can be delivered in as little as three days, the company said in the filing.
The stock will be listed on the New York Stock Exchange under the symbol BOBS.
