Bob’s Discount Furniture Q1 sales up 8.5%; opening 20 stores in 2026
Bob’s Discount Furniture managed to overcome “industry headwinds” during the first quarter with revenue growth as it remains committed to national expansion.
The furniture retailer opened five new stores during the quarter, for a total of 214 stores in 26 states, and is on track to open approximately 20 locations for the full year. On the earnings call, Bob’s president and CEO Bill Barton said the company’s continues “to see a clear and actionable path to more than 500 stores by 2035.”
“Looking ahead, we remain focused on executing to our long-term growth algorithm, growing our store base across new and existing markets, driving comparable sales, and leveraging our scale and density to improve efficiency and expand margins,” he told analysts.
[READ MORE: Bob's Discount Furniture targets 500-plus stores by 2035]
Bob’s reported net income of $2.5 million, with earnings per share of $0.02, for the quarter ended March 29, compared to $13.1 million, with earnings per share of $0.12, in the year-ago period. Adjusted net income per share was $0.09 compared to $0.13 in the prior year.
The decrease in income came amid new store expenses and increased marketing spend. In addition, Bob’s paid a one-time $2 million termination fee associated with the advisory agreement with its controlling stockholder.
Net revenue increased 8.5% to $578.1 million amid new stores and comparable sales growth. Comparable sales increased 1.2%, driven by increases in conversion and average order value in both retail and e-commerce channels. The increase was partially offset by lower in-store traffic, particularly during periods during the quarter that were impacted by the effects of exceptional winter weather, the company noted.
“Despite adverse weather and broader industry headwinds, Bob’s continued to gain market share, underscoring the strength of our differentiated business model and strategic advantages,” Barton said in the earnings release. “Our results reflect the power of our merchandising strategy, omni-channel capabilities, and disciplined approach to new market expansion.”
Bob’s reaffirmed its full fiscal 2026 guidance of net revenue between $2.6 billion and $2.63 billion, and comparable sales growth of between 1.5% and 2.5%.
The company opened five new stores and ended the quarter with 214 stores in 26 states.
