🔒Bob’s Discount Furniture set to begin trading after $331M IPO 

Manchester-based Bob’s Discount Furniture is scheduled to begin trading on the New York Stock Exchange on Thursday after raising $330.7 million in its initial public offering, marking a major milestone for the retailer that has grown from a single Newington store into a 206-location national chain. The furniture company priced its IPO at $17 per share, at the low end of its projected $17 to $19 range, selling roughly 19.45 million shares. Bob’s will trade under the ticker symbol “BOBS.” The company said proceeds from the offering will be used to pay down existing long-term debt, resulting in a “clean balance sheet” with no long-term debt as a public company, Chief Financial Officer Carl Lukach said in an interview with the Hartford Business Journal Thursday. Bob’s plans to use proceeds primarily to repay debt on a $350 million term loan that funded a cash dividend to shareholders, including majority owner Bain Capital, in October 2025. Last month, Bob’s said its initial public offering could raise up to about $370 million. Underwriters have a 30-day option to purchase up to 2.92 million additional shares at the IPO price, which could bring total proceeds to roughly $380 million before fees and expenses, if fully exercised. Investment funds affiliated with Bain Capital are expected to retain roughly three-quarters of the company’s stock after the offering, allowing Bob’s to qualify as a “controlled company” under NYSE rules. Bob’s first announced plans to go public in early January. The retailer operates 206 showrooms across 26 states in five regions — the West, Midwest, Mid-Atlantic, New England and New York — and employs 5,800 people. Nearly 1,000 of those employees are based in Connecticut, with the entire C-suite in Manchester, Lukach said. The company plans to grow to more than 500 stores by 2035, representing a 10% compound annual growth rate. Lukach said Bob’s has identified future sites and will fund expansion through operating cash flow rather than IPO proceeds. “We have a long track record of opening new units every year in all economic cycles,” Lukach said. “In good times and more challenging times, we’ve always reinvested in the business, opened new units and took market share along the way.” Bob’s reported $1.72 billion in net revenue for the nine months that ended Sept. 28, 2025, up 20.4% from $1.43 billion a year earlier. Net income rose 63.6% to $81 million compared with $49 million in the prior-year period. Most of Bob’s stores were profitable last year and newer locations have generated strong returns, the company said. Bob’s recently opened stores in Boston and Long Island City, New York, and plans to enter South Carolina and the Nashville market in 2026.

“Connecticut is such a great market for us. It’s our home base. It’s where everything started. We have deep relationships with local partners, local vendors. We do not have any plans to relocate, and we’re thrilled with what Connecticut's been as a market to us.” — Carl Lukach, CFO of Bob's Discount Furniture

The company sells furniture and mattresses through a combination of brick-and-mortar locations and online channels, with a strategy centered on value pricing and integrated digital and in-store shopping. Connecticut remains central to the company’s identity and operations. Founder Bob Kaufman opened the first Bob’s store in Newington in 1991, and the company has been in the state for almost 35 years. The retailer operates seven stores across Connecticut and recently relocated its original Newington location across the street, resulting in a 12% sales increase. Lukach said the company sees “opportunity for continued infill” in Connecticut and other core markets. “Connecticut is such a great market for us. It’s our home base. It’s where everything started,” Lukach said. “We have deep relationships with local partners, local vendors. We do not have any plans to relocate, and we’re thrilled with what Connecticut's been as a market to us.” Lukach, who lives in West Hartford, emphasized the importance of the company’s workforce, noting that average manager tenure is about seven years. “That’s so unique in retail,” he said. “It really speaks to the Bob’s Way and this business resonating across all economic climates.” Bain Capital acquired Bob’s more than a decade ago and has overseen its national expansion. The company is led by President and CEO Bill Barton. J.P. Morgan, Morgan Stanley and Goldman Sachs served as lead underwriters for the offering.