Dollar Tree on Tuesday, in tandem with its third-quarter earnings results, announced a big change in the works for the discount retailer. By April, almost everything on its shelves will cost more than $1. In fact, they will cost $1.25, to be exact. Moreover, the company says this change is permanent and that it's not in reaction to short-term conditions.
Sure, okay. Completely blowing up the value proposition implied in the store's name is not at all related to US inflation being at a three-decade high, got it. Buried in the company's announcement of the price increase, which it tries to spin as something customers will apparently celebrate, is the culprit. Rather, multiple culprits. "The new price point will enable Dollar Tree to return to its historical gross margin range by mitigating historically-high merchandise cost increases, including freight and distribution costs, as well as higher operating costs, such as wage increases."
The post Dollar Tree is permanently raising prices on almost everything to over $1 appeared first on BGR.
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Dollar Tree is permanently raising prices on almost everything to over $1 originally appeared on BGR.com on Wed, 24 Nov 2021 at 00:35:00 EDT. Please see our terms for use of feeds.
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