The retailer reported higher sales driven by e-commerce and store expansion but saw net income decline year-on-year.
Bob’s Discount Furniture reported an 8.5% increase in first-quarter net revenue to $578.09m, up from $532.7m in the same period last year. Comparable sales rose 1.2%, supported by higher conversion rates and average order values across retail and online channels, though severe winter weather reduced in-store traffic.
Gross profit climbed 8.4% to $256.5m, with gross margin steady at 44.4%. Net income fell to $2.5m from $13.1m, while adjusted EBITDA edged up to $37.6m from $37.3m. The company opened five new stores, expanding its footprint to 214 locations.
The retailer reaffirmed its full-year guidance, projecting net revenues of $2.60bn to $2.625bn and comparable sales growth of 1.5%.