CHESAPEAKE, Va. — Their name is “Dollar Tree,” but their products will soon be $1.25.
Dollar Tree announced Tuesday it plans to raise prices from $1 to $1.25 on the majority of its products by early 2022, CNN reported.
In a statement, the company made clear that the decision was not a reaction to “short-term or transitory market conditions.” Rather, Dollar Tree said the change will allow the chain to expand the items carried in stores, the Miami Herald reported.
This isn’t the first time the company has raised its prices. In September, Dollar Tree announced it would add items for more than $1 in some of their stores, and said it was encouraged by positive customer feedback.
The new price point is scheduled to be in place in more than 2,000 Dollar Tree stores in December, and will be rolled out to all stores by the end of the first fiscal quarter of 2022.
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