Dollar Tree announced on Tuesday that it is permanently raising its prices $1.25 for most products because of cost increases in merchandise and operating.
'[Dollar Tree] believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers,' the discount retail chain company said in its statement.
Dollar Tree owns 8,000 retail stores across the country. It has been testing the price increase in select stores since September. CEO Michael Witynski said customers have accepted the higher price point.
'They know that Dollar Tree hasn't raised its price in 35 years, so they're giving us credit,' Witynski said. Dollar Tree was one of the last remaining one-dollar stores before this price change.

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24 Nov
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