Bed Bath & Beyond announced Wednesday it will no longer conduct retail business in California due to the financial difficulties many companies face in the state.
Marcus Lemonis, Chief Executive Officer of Bed Bath & Beyond, wrote a statement on the reason for not opening or operating any new company stores within California.
“This decision isn’t about politics — it’s about reality,” Lemonis said. “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.”
The CEO further described certain economic conditions in California that make it difficult for businesses to sustain themselves.
“Higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangle growth,” he said, were stifling to his company. “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.”
Lemonis concluded his statement with an emphasis on common-sense business practices.
“We’re taking a stand because it’s time for common sense. Businesses deserve the chance to succeed. Employees deserve jobs that last,” Lemonis continued. “And customers deserve fair prices. California’s system delivers the opposite. That’s why Bed Bath & Beyond will serve California customers directly through BedBathandBeyond.com, on our terms, and with their best interests at heart.”
California Governor Gavin Newsom’s press office issued a post on X, mocking the company’s departure.
The governor himself, from his own account, posted similar comments.
“We wish them well in their efforts to become relevant again as they try to open a 2nd store,” Newsom wrote.
The move comes after In-N-Out CEO Lynsi Snyder announced in late July that she is leaving California and expanding the business to other states due to the difficulties of doing business in the “Golden State.”
