Your buck won’t go as far as it used to at Dollar Tree.
The discount retailer announced Tuesday that it will jack up prices on almost all items in its more than 8000 U.S. stores to $1.25 by April.
“(Dollar Tree) believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers,” the company said in a statement.
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The move is permanent and not due to short term inflationary conditions or supply chain challenges.
“The $1.25 price point, which will apply to a majority of Dollar Tree’s assortment, will enhance the company’s ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials,” the company said.
Dollar Tree began rolling out the higher price points at about 200 stores in September.
“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide,” CEO Michael Witynski said.
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