Bed Bath & Beyond just dropped a bombshell: no stores in California, period. Under the leadership of Executive Chairman Marcus Lemonis, the retailer has taken a hard stance against what it sees as an anti-business environment in the Golden State. This decision isn’t just a headline—it’s a wake-up call for anyone watching the intersection of policy and profit.
According to Fox Business, the company announced on Wednesday that it will avoid opening or operating physical stores in California, citing high taxes, steep fees, elevated wages, and suffocating regulations, while pivoting to online sales for state residents with rapid delivery and planning nationwide brick-and-mortar growth elsewhere.
Let’s rewind to understand how we got here. Bed Bath & Beyond collapsed in 2023, crushed by debt and failed strategies like poor inventory control and a sluggish shift to online trends. By the time it filed for Chapter 11 bankruptcy, all of its physical stores had been shuttered.
Hope emerged when Overstock.com snapped up the brand name and intellectual property for $21.5 million in June 2023. By August, the BedBathandBeyond.com website was back in action. A corporate rebrand to Beyond, Inc. followed in November 2023.
The revival gained steam in February 2024 when Kirkland’s Inc. invested $25 million to become the exclusive operator of smaller-format “neighborhood” stores nationwide. Beyond, Inc. also oversees Overstock, Zulily, and BuyBuy Baby. This was a calculated rebuild.
Earlier this week, the corporate name reverted to Bed Bath & Beyond, Inc. Common stock will trade under the ticker BBBY on the NYSE starting August 29, 2025. The first new store, branded as Bed Bath & Beyond Home, opened in Nashville this month.
Now, back to California. Lemonis didn’t mince words, calling the state’s environment “overregulated” and “expensive.” He argues these policies squeeze businesses until they crack. “Isn’t about politics – it’s about reality,” Lemonis declared. He believes California’s budget surpluses burden everyday citizens and companies alike. This isn’t just a complaint; it’s a refusal to play by rules he sees as unfair.
“[California’s policies] make it harder to employ people,” Lemonis told Brian Brenberg on “The Big Money Show.” He added that keeping doors open becomes a losing battle. Delivering value to customers? Nearly impossible, he claims.
Instead of fighting an uphill battle, Bed Bath & Beyond is going digital for California customers. Through BedBathandBeyond.com, they promise delivery in 24 to 48 hours, often on the same day. It’s a clever workaround to serve the market without physical overhead.
Meanwhile, the company isn’t slowing down elsewhere. With plans for 300 new shops nationwide over the next two years, plus goals to rebuild Overstock.com into a billion-dollar brand, the focus is on growth. Blockchain assets like tZERO and GrainChain are also in the mix for added value.
Lemonis insists this isn’t personal—it’s business. “We don’t want the government telling us how to run our business,” he told Brenberg. For shareholders and customers, profitability is the bottom line, and California’s climate doesn’t add up.
For investors, this is a story of adaptation. Bed Bath & Beyond’s pivot to online sales in California could signal a broader trend—retailers dodging high-cost regions while still capturing market share. Keep an eye on BBBY stock come August 29.
Broader goals, like expanding physical stores elsewhere and boosting Overstock.com, show a multi-pronged strategy. Risk-averse investors might appreciate the blockchain play with tZERO, though it’s a speculative angle. Frugality in operations, as Lemonis champions, aligns with wealth-building principles.
What’s the takeaway? Government overreach can reshape entire industries—California’s policies are a case study in unintended consequences. Tune into Lemonis’ show “The Fixer” on FOX Business Network Tuesdays at 8 p.m. ET for more unfiltered takes, and consider how regulatory environments impact your own investment choices.