Bed Bath & Beyond’s Lemonis blasts California’s business climate; vows no stores for the state
MURRAY, Utah — Marcus Lemonis has made it clear that California won’t be part of the Bed, Bath & Beyond retail expansion, calling it “one of the most overregulated, expensive and risky environments for businesses in America.”
In a statement issued by Lemonis, executive chairman of Bed Bath and Beyond, he said the company will not open or operate stores in California. “This decision isn’t about politics; it’s about reality,” he said, adding California’s system has made it hard to employ people, keep businesses open and deliver value to consumers.
“Higher taxes, higher fees, higher wages that many businesses simply cannot sustain and endless regulations that strangle growth” were the result of the state’s policies, he said. “Even when the state announces a budget surplus, it’s built on the backs of ordinary citizens who are paying too much and businesses that are squeezed until they break.”
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Instead of opening stores, Lemonis said the company’s California strategy is “24- to 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’ve taken a stand because it’s time for common sense,” he said, noting a responsibility to customers and shareholders. “Businesses deserve the chance to succeed. Employees deserve jobs that last. And customers deserve fair prices.”
He said Californians will be served directly by bedbathandbeyond.com “on our terms and with their best interests at heart.”
The company has opened its first Bed Bath & Beyond Home store in Nashville as part of a retail expansion strategy in partnership with Kirkland’s and Brand House Collective.
