Beyond CEO says company will not open, operate retail stores in California

Beyond (BYON) has issued a statement from Marcus Lemonis, Executive Chairman of Bed Bath & Beyond: “We will not open or operate retail stores in California. This decision isn’t about politics – it’s about reality. 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 result? 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. At Bed Bath & Beyond, our responsibility is to our customers and our shareholders. We will not participate in a system that undermines both. 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. 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. That’s why Bed Bath & Beyond will serve California customers directly through BedBathandBeyond.com, on our terms, and with their best interests at heart.”