Bed Bath & Beyond Executive Chairman Marcus Lemonis Says Retailer Will Not Open Stores In California – Here’s Why

Bed Bath & Beyond Executive Chairman, Marcus Lemonis, stated on Wednesday that the company will not open or operate retail stores in California. 

“This decision isn’t about politics — it’s about reality,” said Lemonis, adding that California has created one of the most overregulated, expensive, and risky environments for businesses in America.

“It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers,” Lemonis said, adding that the result was higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangle growth.

“Even when the state announces a budget surplus, it’s built on the backs of ordinary citizens who are paying too much and businesses who are squeezed until they break,” he added.

On Monday, Beyond announced that it will change its corporate name to Bed Bath & Beyond Inc. and its common stock will begin trading under the ticker symbol ‘BBBY’ on the New York Stock Exchange effective Aug. 29, 2025.

Retail sentiment on Beyond improved to ‘bullish’ from ‘neutral’ territory, with message volumes at ‘extremely low’ levels, according to data from Stocktwits. Shares of the company were down nearly 3% in early trading.

Lemonis said that Bed Bath & Beyond will not participate in a system that undermines its customers and shareholders. “Instead, we are investing in a California strategy that works: 24–48-hour delivery, and in many cases, same-day service. Californians will continue to get the products they love through BedBathandBeyond.com—but without the inflated costs created by an unsustainable model,” he said.

“We’re taking a stand because it’s time for common sense. Businesses deserve the chance to succeed. Employees deserve jobs that last. And customers deserve fair prices. California’s system delivers the opposite,” Lemonis said.

Beyond stock has gained nearly 84% so far this year, but declined about 19% in the last 12 months.  

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Also See: TJX Stock Gains On Q2 Beat, Retail Bulls Charge On Raised Annual Forecasts

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