Dollar Tree , To Start Selling Some Items, for More Than $1.
The pandemic has caused prices to soar in just about every industry, and Dollar Tree has felt the effects of it as well.
Last month, the company said
rising shipping costs would eat $1.50 to $1.60 of its per-share profits this year.
As a result, some locations
will begin selling items
for more than $1.
The retail chain had already begun testing increased prices at hundreds of its locations in an area of the store called "Dollar Tree Plus.".
Within "Dollar Tree Plus," some items can be found for as much as $5.
According to J.P. Morgan analysts, Dollar Tree executives previously said that stores offering a "Plus" section experienced a significant sales boost.
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, Michael Witynski, Dollar Tree CEO, via statement.
Witynski said that the company will still do everything it can to provide value for its customers.
We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50, Michael Witynski, Dollar Tree CEO, via statement