Dollar Tree image - FDA violations _ 2019

Dollar Tree Inc. announced that they would permanently be raising their prices from $1.00 to $1.25. The Dollar Tree, which has remained as one of the few remaining true “dollar stores” announced the new price point Tuesday.

For the past 35 years the Dollar Tree has been able to maintain a price point of $1.00 during inflationary periods and stated that this decision is not due to current inflation adding “it is not a reaction to short-term or transitory market conditions.”

The decision quickly became the number one trending topic on Twitter to a slew of criticism, political bickering, but overwhelmingly hilarity. 

CEO Michael Witynski said in a statement “this is the appropriate time to shift away from the constraints of the one-dollar price point.

The company said the $1.00 price point “hampered them” and stopped allowing them to sell customer favorites that they now will be able to bring back.

The higher prices will hit 2,000 Dollar tree stores in December, while the remainder of the rollout will take place during the first quarter of 2022.

“Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers’ experience and unlock value for our stakeholders,” Witynski said.

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