The chairman of the resurrected home goods chain Bed Bath & Beyond announced on Aug. 20 that the company would not open or operate retail stores in California, calling it overregulated, expensive, and risky.
Lemonis—the executive chairman of Beyond, Inc., which owns Bed Bath & Beyond—claimed that the state’s regulations result in higher taxes, fees, and wages that many businesses can’t sustain. The regulations strangle growth, he said.
California Gov. Gavin Newsom’s office did not express concern about the retailer’s announcement in a response following the company’s announcement.
“After their bankruptcy and closure of every store, like most Americans, we thought Bed, Bath & Beyond no longer existed,” Newsom’s spokesperson, Tara Gallegos, told The Epoch Times in an email. “We wish them well in their efforts to become relevant again as they try to open a 2nd [sic] store.”
Bed Bath & Beyond, founded in 1971, expanded to become a U.S. retail icon of home goods, experiencing significant growth.
Bed Bath & Beyond closed all 41 of its California stores, along with all other U.S. locations, in July 2023.
“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Amy Sullivan, CEO of The Brand House Collective, said in a statement on July 28. “This isn’t just a store, it’s a fresh start for a brand that means something special to so many families.”
The store also brought back its popular Beth Bath & Beyond coupons as it celebrated the grand opening.
Bed Bath & Beyond is investing in an alternative California strategy, according to Lemonis.
The company will offer 24 hour to 48 hour delivery to customers, and in many cases will deliver on the same day of purchase.
Californians can continue to get products directly through the company’s website “on our terms, and with their best interest at heart,” but without the extra costs imposed by California’s taxes and regulations, according to Lemonis.
“We’re taking a stand because it’s time for common sense,” he said. “Businesses deserve the chance to succeed. Employees deserve jobs that last. And customers deserve fair prices. California’s system delivers the opposite.”
