Gavin Newsom Responds to Bed Bath & Beyond's California Store Closure, References Bankruptcy as BYON Stock Stays Around $9

Written by Emily J. Thompson, Senior Investment Analyst

Source: Benzinga

Updated: Aug 21 2025

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Source: Benzinga

Governor Newsom's Response: California Governor Gavin Newsom criticized Bed Bath & Beyond's decision to avoid opening stores in the state, referencing the company's previous bankruptcy and store closures.
Executive Chairman's Statement: Marcus Lemonis, Executive Chairman of Beyond Inc., cited high taxes and regulations as reasons for not operating in California, emphasizing a focus on shareholder and customer interests instead.
Stock Performance Update: Beyond Inc.'s stock saw a decline of 4.40% to $8.90, despite a year-to-date increase of 58.36%, following better-than-expected second quarter results.
Corporate Name Change: Beyond Inc. plans to revert its name back to Bed Bath & Beyond and reclaim its original ticker symbol on the NYSE, while also converting Kirkland’s locations into new stores over the next two years.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.