Dollar Tree is raising the cap on prices in its stores, CEO says
AUGUSTA, Ga. - Dollar Tree will raise the price cap in its store to $7, CEO Rick Dreiling says – and the higher-cost items will include food, pet, and personal care items.
“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” Dreiling said.
Dreiling also shared the majority of the items sold will remain at the fixed price point; however, over time the company will integrate multi-price items.
MORE FROM NEWS 12:
Costco is cracking down on non- eating inside food court
People without an active Costco hip card won’t be allowed to buy items from the food court, a rule that was always in place but never enforced.
Chick-fil-A announces change to the chicken it serves
Fast-food chain announced that it is shifting from No Antibiotics Ever (NAE) to No Antibiotics Important to Human Medicine (NAIHM) regarding its chicken this spring.
Krispy Kreme doughnuts will soon be sold at McDonald’s nationwide
The pair announced that fans will begin spotting Krispy Kreme doughnuts in their local McDonald’s restaurants later this year.
Forgotten subscriptions can eat away at your budget
Most Americans have at least once paid subscription service that they no longer use, costing them an average of over $25 each month, according to a Self survey.
“Our shoppers will find $5 bags of dog food next to our traditional $1.25 pet treats and toys, and our $3 bags of candy will be found in the candy aisle,” he said.
The company also owns the Family Dollar chain, and including one in Clearwater that’s having a liquidation sale right now.
According to the store’s executive, Collar Tree’s demographic is shifting toward people with higher incomes.
“The fastest-growing demographic is north of $125,000 a year in income,” Dreiling said. “I think that attraction is the multi-price point and the fact that we’ve been able to increase the variety of products in the store.”
In 2021, the company raised the base price of its items to $1.25. Months after, the store set the price cap to $5.
Copyright 2024 WRDW/WAGT. All rights reserved.
