Bed Bath & Beyond makes Bay Area return after CEO slams California
SFGATE • • business
Key Points:
- Bed Bath & Beyond is reopening 12 stores in California, including six in the Bay Area, reversing its previous stance against operating in the state due to regulatory and cost concerns.
- The Container Store is undergoing a major overhaul in 98 U.S. locations to incorporate Bed Bath & Beyond products, liquidating 30% of its existing inventory to make space for the new merchandise starting in May.
- This move follows Beyond's recent $150 million acquisition of The Container Store and signals a strategic pivot after Bed Bath & Beyond's bankruptcy and closure of over 300 stores in 2023.
- California Governor Gavin Newsom welcomed the reopening, highlighting the state's economic growth, while Bed Bath & Beyond's Executive Chairman Marcus Lemonis had earlier criticized California's business environment as overly regulated and costly.
- The reopening marks a significant comeback for Bed Bath & Beyond in California, despite past tensions and skepticism from state officials following the company's bankruptcy and exit announcements.
