Marcus Lemonis Bed Bath & Beyond Named CEO
Marcus Lemonis Bed Bath & Beyond named CEO; a Jan. 5 letter details cost cuts, M&A plans and an omnichannel push that will shape investor positioning.

KEY TAKEAWAYS
- Lemonis was named CEO effective Jan. 1, 2026 while retaining executive chairman and principal executive officer roles.
- Jan. 5 shareholder letter outlined cost cuts, accretive acquisitions and an omnichannel expansion for the next 12 months.
- Q3 2025 showed net-loss reduced over 90% and adjusted EBITDA improved about 80%, with roughly $200 million cash.
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Marcus Lemonis was named chief executive officer of Bed Bath & Beyond Inc. (BBBY) effective January 1, 2026, the company said in an 8-K filed January 5. In a shareholder letter the same day, Lemonis outlined plans for cost cuts, accretive acquisitions, and an expansion of the retailer’s omnichannel model shaping its near-term outlook.
Leadership Changes and Filings
Bed Bath & Beyond appointed Lemonis as CEO while he retains his roles as executive chairman and principal executive officer, according to the 8-K. The company said it plans to enter an employment agreement with Lemonis; material terms will be disclosed in a future filing. The filing also showed that Chief Operating Officer Alexander Thomas’s employment ended January 1, 2026, though he will remain as a transition advisor. Lemonis stepped down as CEO of Camping World on the same date, with Matt Wagner succeeding him.
Strategy and Outlook
In the shareholder letter distributed at 8:30 a.m. ET on January 5, Lemonis emphasized cost reductions and a 12-month plan to pursue accretive acquisitions targeting category gaps and synergies. He highlighted priorities including expanding digital channels, financial and insurance services, home-platform initiatives, prefab homebuilding, and developing an AI-powered home operating system. The letter framed these efforts as part of an omnichannel expansion to reshape the retailer’s business.
Financial Position and Acquisition Plans
Bed Bath & Beyond reported a net-loss reduction of more than 90% year over year in the third quarter of 2025, alongside an 80% improvement in adjusted EBITDA, a proxy for operating profit. The company held roughly $200 million in cash. Management said it eliminated over $50 million in annualized fixed operating expenses and expects an additional $25 million in fixed cost cuts over the next 12 months through merger synergies. The company projects gross margins in the mid-20s percentage range, about 24% to 26%, with sequential improvements in adjusted EBITDA losses and operating cash flow over the past 20 months.
The pending acquisition of Kirkland’s is expected to add about $350 million in net revenue. Including this deal, management projects a 2026 base revenue near $1.5 billion, up from below $1.4 billion in 2024.





