Dollar Tree will be raising prices again. The popular chain raised their price in 2022 from $1. to $1.25. In 2023, the company also added a section where certain items were maxed out at $5.
The company will now raise their base price to $1.50 for basic items and the formerly $5. point items, which include items such as food, personal care items and pet items, will be raised to a maximum of $7.
“Over time, you will also see us fully integrate multi-price merchandise more into our stores so our shoppers will find $5 bags of dog food next to our traditional $1.25 pet treats and toys, and our $3 bags of candy will be found in the candy aisle,” CEO Rick Dreiling said on March 13.
The increase in prices comes after Dollar Tree reported a net loss of $1.7 billion dollars last quarter.
In 2015, Dollar Tree bought Family Dollar for over $8 billion. Dollar Tree plans to close roughly 600 Family Dollar stores within the coming months, as well as an additional 370 Family Dollar and 30 Dollar Tree stores over the next few years.
By - FZ
