By the end of December, Dollar Tree will increase the maximum price of products in its stores across the country.
“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” stated CEO Rick Dreiling.
The raise in the price cap will result in a broader range of options such as food and snacks, drinks pet care, personal care, and more, reports indicate.
“Over time you will also see us fully integrate multi-priced 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. This is the next exciting chapter of the Dollar Tree value store. New items, more choices, and more savings,” Dreiling added.
It has been noted that the price cap had just been increased to $5 back in June.
The company had previously increased the price from $1 to $1.25 in 2021. During that time, they had stated that the price height was “permanent and is not a reaction to short-term or transitory market conditions.”
The heightened price cap follows the retailer announcing that they would close about 1,000 stores. This includes about 600 Family Dollar in the first six months.
In 2015, Dollar Tree purchased Family Dollar for over $8 billion after a bidding war took place with Dollar General. Since then, it has been struggling to manage the chain.
