Dollar Tree Will No Longer Have Things at Just a Dollar
For decades now Dollar Tree has had everything in the store at only a dollar, but with COVID-19 affecting shipping and production of merchandise, the Dollar Tree will no longer have ALL of its products at one dollar anymore.
According to NewsWest 9, the store where "Everything's $1" is finding itself having to raise prices on some items due to the price of things going up in the past year.
Last month, Dollar Tree said that with shipping costs on the rise, their profits would be taking a hit if they kept some items at one dollar.
“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," said CEO Michael Witynski in a prepared statement.
A dollar can't buy you what it did in 2020 and by raising some prices on some items, this will give Dollar Tree the choice of getting more variety on store shelves.
With annual inflation at its highest in three decades, businesses of every kind are feeling the pinch especially a business that has sold everything for a dollar for many years.
Dollar Tree had already begun to test higher-priced items in some select stores with their "Dollar Tree Plus" sections where products go for $1.25 or $1.50 and some items as much as $5.00.
CEO Witynski says that Dollar Tree would remain true to the promise of value even with products breaking the one-dollar mark.
“We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50,” said Witynski.
Here are 50 of your favorite retail chains that no longer exist.