Bob’s Discount Furniture began trading on the NYSE on Feb. 5 with an IPO of 19.45 million shares priced at $17 per share. The retailer’s initial market capitalization of approximately $2.22 billion is based on 130.4 million shares outstanding after the IPO, according to the Wall Street Journal.
The share price “barely budged,” however, according to Feb. 5 reporting by CNBC, although it did land within the expected range of $17 to $19 per share.
In an interview with CNBC, Bob’s CEO Bill Barton said the retailer has seen significant customer gains among higher-income households in recent years. About 27% of its customers have an annual household income of more than $150,000, and that part of the customer base is growing the fastest, up by about 3% as a share of Bob’s shoppers in the past two years. Additionally, about half of Bob’s customers have an annual household income of more than $100,000.
While Bob’s currently operates just over 200 stores, the discount furniture retailer is forecasting significant growth — including the opening of an additional 300 locations — by 2035. Many of these stores will be filling gaps in existing markets, but Bob’s also is planning to expand to regions including Texas, the Rocky Mountains and the Pacific Northwest, according to the WSJ. In May 2025 Bob’s announced plans to open 20 new stores that year, including the retailer’s first foray into the Southeast U.S. and its first store in Vermont.
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