Bob's Discount Furniture

Bob's Discount Furniture
Industry Furniture retail
Founded 1991
Founder Bob Kaufman and Gene Rosenberg[1]
Headquarters Manchester, Connecticut, U.S.
Number of locations
 69 stores (April, 2016)[2]
Area served

[2]

Key people
 Edmond J. (Ted) English (Executive Chairman)
Michael Skirvin (President & COO)
[2][3]
Products Furniture, Bedding, Mattresses
Revenue Increase US$ 1.1 billion (2016)[4]
Owner Bain Capital[5][6][7][8]
Number of employees
 2,500 (2011)[9]
Website www.mybobs.com

Bob's Discount Furniture is a privately owned regional chain of furniture stores in the Northeast, Mid-Atlantic & Midwest United States.[10] Bob's Discount Furniture started in Connecticut and its corporate headquarters are in Manchester, CT. The company has stores located in Maine, New Hampshire, Massachusetts, Connecticut, Rhode Island, New York, New Jersey, Maryland, Virginia, Pennsylvania Delaware and Illinois. Bob's Discount Furniture is continuing to expand in 2016. Five stores in the Chicagoland area opened on February 11 in Aurora, Burbank, Orland Park, Skokie & Villa Park.[11] On May 26, four new locations will open – in Latham, NY, Merillville, IN, Calumet City, IL & Schaumburg, IL.[10]

The company was founded in 1991 with its first store in Newington, Connecticut.[1] Bob's Discount Furniture is based in Manchester, Connecticut and is ranked 14th among U.S. furniture stores.[12] In addition to being known for its distinctive advertisements, the company is also known for offering amenities at many of its stores, which may include an in-store cafe with complimentary refreshments. Many of the stores have a back room where people can get items that are considered imperfect; this area is called The "Outlet".[2][13][14][15]

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][16] 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][16] By 1990, waterbed sales had dwindled, and Kaufman partnered with Gene Rosenberg (owner of Wholesale Furniture, where Kaufman had rented space for waterbed sales). At this point, Rosenberg acquired a building in Newington, Connecticut previously owned by a furniture company that had become bankrupt.[1][16] In 1991, the Newington, Connecticut location became the first Bob's Discount Furniture store.[1][9] 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][9] 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.[6][7][8][9] In November 2006, Edmond (Ted) English, former president and CEO of TJX Companies, became the CEO of Bob's Discount Furniture, replacing Stan Adelstein, who became chairman.[3][15][17] Adelstein retired in April 2013, with English taking over as chairman.[18] By this point, Bob's Discount Furniture had recently expanded into Rhode Island, New Jersey, and New York. Ted has led Bob's into its expansion further south into Maryland and Virginia.[15] 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.[19]

Bob's Discount Furniture store in Pennsylvania

Advertising

Bob's Discount Furniture is widely recognized for its idiosyncratic advertising. Bob Kaufman has been characterized as "something of a celebrity in the Northeast, thanks to his quirky television commercials".[3] As of 1997, the company broadcast roughly 500 commercials a week in Connecticut on network and cable television stations.[1] More recently, the commercials have become common during broadcasts of Boston Red Sox and New York Mets games.[20] 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. Cathy Poulin, the company's Director of Public Relations, is the female face of the company. Cathy has been publicly criticized, however, for her contrasting style of dress. Cathy appears in commercials and at events both with and without Bob.[3][9][21][22] "Spanish Bob" William Newton appears in Bob's Discount Furniture commercials on Spanish stations, such as Telemundo.[23] "Clay Bob" makes frequent appearances in the company's commercials, often providing seasonal advertisements. The commercials have been characterized as "amateurish",[22] "unconventional",[14] and "wacky",[14] and viewer reaction to the commercials is mixed, with some disliking the advertisements.[1] The advertisements often feature catchphrases, including "Gotcha!", "Untouchable!", "Lickety-split delivery!", "It's a no-brainer!", and most famous (in Bob's early years), "Come on down!".[1][22]

Community involvement

Bob's Discount Furniture has received attention for its community involvement. The company has been recognized by the American Red Cross for its blood drives and financial contributions to the organization.[24][25] It has also been involved in food drives and charity walks, and conducts a "Celebrate the Arts Contest" to provide grants to regional schools.[26][27][28] Bob's commercial sidekick, Cathy Poulin, Director of Outreach and Public Relations, drives a "Random Acts of Kindness" van to places in need in the communities served by the stores.[7]

In December 2008, Bob's Discount Furniture donated a household full of furniture to the family in Voluntown, Connecticut receiving an ABC Extreme Home Makeover. In March 2011, the intensive care unit waiting rooms at the Rhode Island Hospital received $25,000 worth of furniture donated by the company. In April 2012, it donated $45,000 in gift cards to the Make-A-Wish Foundation to aid in fundraising efforts.

In response to the devastation to New York and New Jersey caused by Hurricane Sandy in October 2012, Bob's Discount Furniture and its employees have provided relief assistance in the following ways:

Café Collections for a Cause

At each Bob’s Discount Furniture Café, a statue of Bob collects thousands of dollars from its customers for a different non-profit charity each quarter. In 2015 - 2016, Bob’s collected and presented 100% of these donations to four charities:

Starting with the 2014 Café Collections for Autism Speaks, Bob’s began matching all customer donations dollar-for-dollar,[33] presenting all of these proceeds to the respective charities along with customer donations. All second quarter donations in 2016 will be given to Autism Speaks.[34]

High School Heroes & Blood Drives

Since 1996, Bob Kaufman has been supporting the American Red Cross in New England by hosting blood drives in store locations.[35] Over the years, Bob’s has also sponsored blood drives in partnership with sports teams like the New England Patriots [36] and the New York Giants.[37] This commitment has led to the creation of the Bob’s Discount Furniture High School Heroes program, which awards a total of $250,000 in college scholarships to students who organize, promote, and host at least two high school blood drives in a year. The program, which gives high schools in Connecticut, Massachusetts, New York, and New Jersey the ability to compete with other schools, awards scholarships from $250 up to $1,000 to individual students, based on a school’s participation rate and total units of blood collected.[38] In total, Bob’s Discount Furniture’s support of New England blood drives has resulted in almost 40,000 units of blood.[35]

Bob’s Golf Outing

In 1991, Bob’s Discount Furniture became an event partner of an annual charity Golf Outing with Planned Furniture Promotions. Money raised from event goes directly to 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, a camp for over 120 children battling cancer.[39] The 27th annual outing raised $452,000 in July 2015.[39] Bob’s Discount Furniture gives $2 million a year to various charitable causes

Celebrate the Arts

Bob’s Discount Furniture launched its Celebrate the Arts contest in 2006 after seeing numerous school districts deal with budget cuts that affected cultural arts programs. Bob’s Outreach program created the annual contest to help schools deal with these issues, awarding more than $300,000 since the inception of the contest. In 2014, Bob’s Discount Furniture awarded a $25,000 check to Gov. John Fairfield School of Saco, Maine.[40] In 2015, Bob’s Discount Furniture awarded a $25,000 check to Holy Trinity Diocesan High School in Hicksville, New York.[41]

Vendors

Bob's Discount Furniture offers a warranty plan for all furniture products, marketed as Goof Proof Protection. This warranty is fulfilled by a third-party, Guardian Protection Products.

References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 Ryan, Bill. Now About Bob and Those TV Spots... The New York Times. Section 14CN, Page 1. November 30, 1997.
  2. 1 2 3 4 Bob’s Discount Furniture Promotes Michael Skirvin to President & CEO. March 10, 2016. Last accessed April 28,2016.
  3. 1 2 3 4 Company profile from Hoover's, Inc.. Last accessed September 15, 2007.
  4. ↑ Top 100 U.S. Furniture Stores. Furniture Today. May 28, 2007. Volume 31, Issue 37, p. 26.
  5. ↑ 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.
  6. 1 2 Saunders Karp & Megrue Completes Recapitalization of Bob's Discount Furniture (press release). January 31, 2005. Last accessed September 14, 2007.
  7. 1 2 3 Engel, Cliff. Firm buys 70% stake in Bob's. Furniture Today. February 7, 2005. Last accessed September 14, 2007.
  8. 1 2 French, Howard. Bob's moving into Rhode Island. Journal Inquirer. July 19, 2006. Last accessed September 14, 2007.
  9. 1 2 3 4 5 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.
  10. 1 2 "Store Locations | Bob's Discount Furniture". www.mybobs.com. Retrieved 2016-04-28.
  11. ↑ "Bob's Discount Furniture Invades Chicago Market". Biz Journals. January 19, 2016. Retrieved April 28, 2016.
  12. ↑
  13. ↑ "Everyday Values in the Outlet | Bob's Discount Furniture". Bob's Discount Furniture. Retrieved 2016-04-28.
  14. 1 2 3 Netter, Sarah. More than prices are down-to-earth at Bob's. Journal Inquirer. May 30, 2002.
  15. 1 2 3 Cronin, Anthony. Former TJX CEO joining Bob's Discount Furniture. The Day (New London, CT). Business and Financial News. November 8, 2006.
  16. 1 2 3 http://www.mybobs.com/about/default.asp Last accessed September 14, 2007.
  17. ↑ Engel, Clint. Bob's Discount names TJX veteran English to CEO post. Furniture Today. November 13, 2006. Last accessed September 14, 2007.
  18. ↑
  19. ↑
  20. ↑ Aucoin, Don. Bigmouth Strikes Again. The Boston Globe. Living, p. C3. July 8, 2006.
  21. ↑ 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.
  22. 1 2 3 Gomez, Michael. It's Bob's World, We Just Sit in It. Business New Haven. March 20, 2000. Last accessed September 14, 2007.
  23. ↑ Fillo, Maryellen. Java. The Hartford Courant. Life section, p. D2. August 9, 2007.
  24. ↑ Red Cross salutes Bob's Discount. Furniture Today. June 29, 2005. Last accessed September 14, 2007.
  25. ↑ Mybobssquad.com
  26. ↑ Bob's Furniture to collect food for local food banks (article preview). Nashua Telegraph. August 30, 2004. Last accessed September 14, 2007.
  27. ↑ Collins, Megan. Furniture store's grant will help Pleasant Valley Elementary's arts program. Journal Inquirer. September 9, 2006. Last accessed September 15, 2007.
  28. ↑ Bob's Discount Furniture
  29. ↑ "Bob’s Discount Furniture Donates $100,000 to Autism Speaks". Autism Speaks. 2012-07-25. Retrieved 2016-04-28.
  30. ↑ "Bob’s gives $60,000 to Save the Children". Hartford Business Journal. Retrieved 2016-04-28.
  31. ↑ Courant, Hartford. "Community News For The Manchester Edition". Courant Community. Retrieved 2016-04-28.
  32. ↑ Ameden, Danielle. "Special Olympics athletes compete in MetroWest Schools Games". Natick Bulletin and Tab. Retrieved 2016-04-28.
  33. ↑ https://www.autismspeaks.org/news/news-item/bob039s-discount-furniture-raises-50000-autism-speaks
  34. ↑ "Bob's Outreach | Bob's Discount Furniture". www.mybobs.com. Retrieved 2016-04-28.
  35. 1 2 http://www.bobshighschoolheroes.com/history.asp
  36. ↑ http://www.hfnmag.com/furniture/bobs-discount-red-cross-new-england-patriots-team-up-for-blood-drive/
  37. ↑ http://www.giants.com/news-and-blogs/article-1/Giants-hosting-annual-blood-drive-Saturday/81c5dea1-e36e-4c80-b4a1-41f71db64ae5
  38. ↑ http://www.bobshighschoolheroes.com/docs/newsroom/BDF%20HSH%20Launch%20NY%20NJ%20News%20Release%20FINAL%2008232013.pdf
  39. 1 2
    Bob's Discount Furniture Golf Outing News Release
  40. ↑ "Bob's Discount Furniture Awards $25,000 to Gov. John Fairfield Elementary School of Saco, Maine in Ninth Annual 'Celebrate the Arts' Contest". November 19, 2014.
  41. ↑ "Holy Trinity wins Bob's Stores $25K "Celebrate the Arts" Contest".

External links

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

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