Bed Bath & Beyond's chairman rejects California in comeback statement

Lemonis, Executive Chairman of Bed Bath & Beyond, declared the company will cease operating retail stores in California due to its hostile business environment. He cited “higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangle growth.”

This system, Lemonis argues, burdens businesses and citizens alike, undermining customer value and shareholder interests. Instead, Bed Bath & Beyond will shift to e-commerce, offering California customers 24-48 hour or same-day delivery through BedBathandBeyond.com.

This strategic pivot bypasses California’s unsustainable model, which Lemonis claims squeezes businesses until they break.