Dollar Tree raising prices due to inflation and shipping costs

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CHICAGO, ILLINOIS – MARCH 04: A sign marks the location of a Dollar Tree store on March 04, 2021 in Chicago, Illinois. Dollar Tree said that it will open 600 new stores this year, 400 under the Dollar Tree Name and 200 under the Family Dollar name, which the company also owns. (Photo by Scott Olson/Getty Images)

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October 31 2021 11:59 pm

Dollar Tree, which is known for having $1.00 deals, will be raising the prices in some of its stores according to a statement by CEO Michael Witynski to Business Insider

“Our brand promise is that customers get great value for what they spend at Dollar Tree. We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50,” CEO Michael Witynski said.

According to Business Insider, the statement didn’t say what product prices would change or at what stores.

The CEO also said they plan on bringing its higher-priced items from Dollar Tree Plus to 500 locations by the end of the year.

“For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar — and we remain committed to that core proposition — but many are telling us that they also want a broader product assortment when they come to shop,” Witynski said.

He continued: “We believe testing additional price points above $1 for Dollar Tree product will enable us over time to expand our assortments, introduce new products and meet more of our customers’ everyday needs.” 

It first tested Dollar Tree Plus in stores in 2019.

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