News Briefs

Bob’s Discount Furniture is going public.

The value home furnishings retailer, backed ‍by ​private ​equity firm ⁠Bain Capital, is targeting a valuation of up to $2.48 billion in its U.S. initial public offering. The company said it plans to offer 19.45 million shares in an expected range of $17 to $19 per share. Bob’s will list its common stock on the New York Stock Exchange under the ticker symbol “BOBS.” 

Founded in 1991, Bob’s is based in Manchester, Conn. The company operates 209 stores across 24 U.S. states, primarily in the Northeast, Mid-Atlantic, Midwest and West Coast regions. Bain Capital acquired the majority stake in Bob’s in 2014, with management continuing to own a significant stake in the company.

Bob’s expects net revenues between $646 million and $648 million for the three-month fiscal period ended Dec. 28, 2025, and approximately $2.4 billion for the full fiscal year 2025. 

J.P. Morgan Securities LLC and Morgan Stanley are acting as joint-lead book-running managers and RBC Capital Markets, LLC and UBS Securities LLC are also acting as book-running managers for the proposed offering. 

 BofA Securities, Evercore Group L.L.C. and Goldman Sachs & Co. LLC are acting as bookrunners for the proposed offering, and Baird, KeyBanc Capital Markets, Raymond James & Associates, Inc., AmeriVet Securities, Inc., Loop Capital Markets LLC, R. Seelaus & Co., LLC and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the proposed offering.

More than 60 companies based in Minnesota have signed an open letter calling for state, local and federal officials to work together “to find real solutions.” 

The letter was posted on the Minnesota Chamber of Commerce website. The signers included two prominent retailers: Corie Barry, the CEO of Best Buy Co., and Michael Fiddelke, the incoming CEO of Target Corp. 

The letter came one day after the fatal shopping of Alex Jeffrey Pretti, a 37-year-old intensive care unit nurse in Minneapolis, by federal agents. It was the second fatal shooting of a Minnesota resident in three weeks by federal agents.

“With yesterday’s tragic news, we are calling for an immediate deescalation of tensions and for state, local and federal officials to work together to find real solutions,” the letter reads. "We have been working for generations to build a strong and vibrant state here in Minnesota and will do so in the months and years ahead with equal and even greater commitment.”

Tensions have been on the rise in the Twin Cities between protestors and the U.S. Immigration and Customs Enforcement and Customs and Border Protection. Prior to the the letter, most of the biggest Minnesota-based companies had not issued any public statements about the enforcement surge and resulting protests.

“In this difficult moment for our community, we call for peace and focused cooperation among local, state and federal leaders to achieve a swift and durable solution that enables families, businesses, our employees, and communities across Minnesota to resume our work to build a bright and prosperous future,” the letter continues.

In a lawsuit filed earlier this month, the state of Minnesota and the Twin Cities asked a federal judge to stop the immigration operations, cited devastating economic impact. The lawsuit alleged that some businesses have reported sales drops up to 80%.

To read the full letter, click here. 

Other notable retailers participating in the vendor’s real-time alcohol cashback program include Key Food Stores Co-Operative Inc., Circle K and Save Mart, as well as 7-Eleven.

[READ MORE: 7-Eleven provides real-time mobile alcohol cashback offers]

Ulta Beauty is expanding its fledgling Middle East footprint.

The specialty beauty retailer is set to make its debut in the United Arab Emirates with the opening of a store in Mall of the Emirates on Jan. 29, in partnership with Alshaya Group, a leading international retail franchise operator that is handling operations for Ulta’s expansion in the Middle East. Additional locations are planned for the Dubai Mall, opening in March, and Red Sea Mall in Jeddah, Saudi Arabia opening in May.

In November, Ulta opened its first store in the Middle East, at The Avenues shopping center in Kuwait. 

“The UAE launch marks an exciting milestone for Ulta Beauty and Alshaya Group as we continue our expansion in the Middle East and bring our distinctive beauty experience to the region," said Kecia Steelman, president and CEO at Ulta Beauty, We are proud of the teams who brought this vision to life and look forward to welcoming guests in Dubai to discover a destination where beauty, self-expression, and possibility come together.”

[READ MORE: Ulta Beauty to debut new wellness-focused shop-in-shop concept]

Since opening its first store in 1990, Ulta Beauty has grown to approximately 1,500 stores across the U.S.

Ulta Beauty is diving deeper into the wellness category with a new in-store concept to showcase its offerings.

The beauty giant will debut its first-ever Wellness by Ulta Beauty shop-in-shop on Jan. 26. The new concept will launch in three locations — Columbus, Ohio; Short Pump, Va.; and Peabody, Mass. — on Jan. 26. An additional location will open in April, in Naperville, Ill.

The boutiques will occupy a 300- to 600-sq.-ft. dedicated footprint within each store, with an assortment that includes vitamins and supplements, feminine products, sleep-focused items and more. The shops will feature "refreshed branding, intuitive navigation, interactive education and dedicated wellness advisors — reinforcing Ulta Beauty’s role as a trusted guide at the intersection of beauty and wellness, “ the company said.

The selection will include a curated mix of wellness brands, including newcomers such as The Nue Co., Stripes (founded by Naomi Watts) and Playground (co-founded by Christina Aguilera), launching simultaneously within the select wellness boutique locations and on Ulta.com.

The retailer first launched The Wellness Shop at Ulta Beauty in 2021. The new in-store boutiques mark the first time Ulta’s wellness offerings will have a dedicated space in its stores.

“Wellness by Ulta Beauty is evolving from a category into an experience,” said Laura Beres, VP of wellness at Ulta Beauty. “Our first-ever wellness boutiques will deliver discovery, education and trusted guidance together in a way that helps guests easily find what works best for them.”

[READ MORE: Ulta Beauty Q3 earnings smash estimates; comp sales jump 6.3%]

At the end of its most recent quarter, Ulta Beauty operated more than 1,500 stores across the U.S., excluding the 80-plus stores in the U.K. and Ireland operated by Space NK. Ulta expanded its global footprint last year, with new stores opening in the Middle East and Mexico.

A newly-built shopping center in the Phoenix metro area has been completed and fully leased.

Vestar, a commercial real estate owner, operator and manager, has announced the completion of Vineyard Towne Center, an open-air retail destination in Queen Creek, Ariz. The $100 million, 260,000-square-foot development broke ground in 2021 and has reached full occupancy.

Anchor tenant Target opened a 145,000-sq.-ft. store in October, offering its full range of fulfillment options. The fully-leased tenant roster also includes Sprouts Farmers Market, Mattress Firm, European Wax Center, Five Guys, Zaxby's, Wingstop and more. Pet Supplies Plus is slated to open in the fall.

"Completing Vineyard Towne Center marks another exciting milestone in our long-term commitment to the Queen Creek community," said Jeffrey Axtell, executive VP of development at Vestar. "This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety, and an elevated sense of place. We're proud to deliver a project that will serve Queen Creek for years to come."

The completion of Vineyard Towne Center follows the recent delivery of Queen Creek Crossing, another major Vestar development located five miles down the road. Anchored by Costco, Ashley Furniture and Hobby Lobby, Queen Creek Crossing spans more than 400,000 sq. ft. and is also 100% leased.

[READ MORE: H Mart plans largest California store yet]

Based in Phoenix, Vestar’s portfolio exceeds 30 million sq. ft. across the western United States. The company has an additional 3 million sq. ft. under active development.