Posted on 03/27/2024 11:34:58 AM PDT by Red Badger
Discount chain Dollar Tree has announced it will raise its price cap to $7 for some store items.
During a recent fourth-quarter earnings call, CEO of Dollar Tree Rick Dreiling shared, “This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7.”
Due to the ongoing inflation under the Biden administration, Dollar Tree was previously forced to raise their prices from $1 to $1.25 in 2021.
The $7 price cap will be implemented in the fourth quarter, and at the beginning of June, a $5 price cap will be temporarily set.
Dollar Tree’s announcement comes just weeks after the discount chain announced it would close up to 1,000 stores of its sister chain, Family Dollar.
Per USA Today:
Discount retail giant Dollar Tree said that it would raise the price cap in its stores to $7 in its fourth quarter earnings call earlier this month.
“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” Dollar Tree CEO Rick Dreiling said in the call on March 13.
A $5 cap was set in June, according to Yahoo Finance. In 2021 the company raised the base price of items to $1.25.
The higher cost items will include food, pet and personal care items, though not all items will be at the $7 price cap.
As The Gateway Pundit previously reported, Dollar Tree, which owns Family Dollar, announced it would close 600 Family Dollar stores in the first half of 2024 and 370 stores within the next several years.
Dollar Tree also announced they will close 30 stores as their leases expire.
The news comes as the discount chain has faced difficulties maintaining profits due to inflation and facing significant fines for violating U.S. product safety standards after it was discovered Family Dollar warehouses were filled with live and dead rodents.
READ:
Family Dollar and Dollar Tree Plan to Shut Down 1,000 Stores:
https://www.thegatewaypundit.com/2024/03/family-dollar-dollar-tree-plan-shut-down-1000/
There’s not one single thing in any Dollar Tree worth 7 bucks.
They will bring in new products............
They should have the Dollar Tree index to measure inflation.
Seven Dollar Tree.
It does seem kind of shortsighted to name your store after a certain amount of money if you plan to stay in business for many years. Even without crazy inflation like we have now, at some point you won’t be able to buy much for a dollar anymore. It’s kind of like penny candy. It does not exist anymore.
Just call it The 2020 Dollar Tree.
“There’s not one single thing in any Dollar Tree worth 7 bucks.”
Of course not. Price cap on present items is less than $7.
They are raising the cap so they can bring in higher valued items not presently allowed.
I remember the 5 and dime. That definitely became a much costlier place then everything a nickel and dime. I used to go to dollar tree. No more. It’s all junk and much smaller packaging which if you bought what the same larger amount in a regular store, it’s actually more expensive.
During a layoff, some years ago, they were a real benefit, to me. Even after full employment, I continued to shop there.
Along with the increase to $1.25, they also scaled a lot of portions back by 1/3. This resulted in a price increase of about 100% on some items.
But hey, no more mean tweets . . . ( /s )
Beer is worth it
No, nothing worth that much at a Dollar Tree and they wont actually be bringing anything “new”.
Dollar Trees are being merged with the Family Dollar so it will be the same overpriced crap from FD showing up.
For all intents and purposes Dollar Tree is gone.
Family Dollar may stick around for a while if they can stay away from the fall apart junk Dollar General sells otherwise it should be taken as the announcement that they are going out of business.
I’ll have to drop by there next time I stay at a Motel 6.
So, $7 Tree. 🙄
Old enough to remember “Motel 6”? :)
I get greeting cards there. And the helium birthday balloons stay afloat for MONTHS! I bought a single Sharpie there recently.
Well congratulations! Did you pay 7 bucks for any of that crap?
No, you didn’t.
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