That's right Dollar Tree going up on prices....Dollar Tree have been testing [Dollar Tree Plus] stores, which offer an assortment of products at $1, $3 and $5.
"Dollar Tree president and CEO Michael Witynski says that its 340 existing Dollar Tree Plus stores and 105 combo stores have seen a "positive customer reaction" so far."
CEO Michael Witynski release statement:
"For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar - and we remain committed to that core proposition - but many are telling us that they also want a broader product assortment when they come to shop. "We believe testing additional price points above $1 for Dollar Tree product will enable us over time to expand our assortments, introduce new products and meet more of our customers’ everyday needs." Witynski said in a statement Tuesday. "Our brand promise is that customers get great value for what they spend at Dollar Tree. We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1, $1.25, $1.50."
The company is on track to have 500 Dollar Tree Plus stores by the end of fiscal year 2021, with an additional 1,500 Dollar Tree Plus locations planned for 2022 and at least 5,000 expected by the end of fiscal 2024.