Last June, the company steadily increased its maximum price limit by adding $5 items.
Last year, Dollar Tree announced it would raise prices above a dollar and add $3 and $5 price points in over 1,800 stores.This year, customers could expect to pay even more, as the discount retail giant announced it will elevate its price cap and raise the highest price for specific items from $5 to $7."This expanded assortment will offer Dollar Tree shoppers a wider range of choices across a variety of categories," said CEO Rick Dreiling in a recent earnings call.
The increased prices were revealed shortly after Dollar Tree's announcement earlier this week regarding its intention to shut down nearly 1,000 stores of its subsidiary, Family Dollar. This decision comes in the wake of the subsidiary being fined over $40 million due to a rat infestation at one of its warehouses, leading to the temporary closure of hundreds of stores.
Dollar Tree Price Increase Discount Retail Expanded Assortment Multi-Price Merchandise Value Story
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