By Daniella Parra
Bob’s Discount Furniture, Inc. (NYSE: BOBS) said net revenue in the first quarter increased 8.5% to $578.1 million from a year earlier.
Net income in the quarter was $41 million compared to $38.6 million a year earlier and diluted net income per share was $0.35 compared to $0.34, it stated. The company also opened three new stores and ended the quarter with 209 stores in 26 states. It also maintained its full year guidance.
“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,” said Bill Barton, Bob’s President and CEO. “Our results reflect the power of our merchandising strategy, omni-channel capabilities, and disciplined approach to new market expansion.”
READ MORE: Bob’s Discount Furniture Sees 4Q Revenue & Income Growth After Recent IPO
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