Dollar Tree announced they will be raising prices up to $7 for certain items.
Executive chairman and CEO Rick Dreiling, said, “The increase is part of Dollar Tree’s multi-price point strategy to offer shoppers a more relevant assortment.”
Dreiling said Dollar Tree plans to focus on customers who make $125,000 per year.
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“Dollar Tree’s new shoppers in 2023 came from households earning more than $125,000 per year,” said Dreiling.
Additionally, Dollar Tree announced they will be closing at least 1,000 Family Dollar stores.