Dollar Tree Announces Price Hike at All Stores

If you shop at Dollar Tree be prepared to pay more at checkout as the company is officially raising prices again in 2024.

March hasn't been the best of months for the company that owns and operates Family Dollar and Dollar Tree stores across the country. Earlier this month we told you that they were preparing to permanently shut down 1,000 stores across the country and now they have announced that they are raising prices at all of its stores.

Dollar Tree Raising Prices Again

After a recent earnings call, Dollar Tree has announced that they are preparing to add hundreds of new items to store shelves across the country soon, but those additions will cost customers more at checkout. Dollar Tree stores follow a basic pricing structure with the cheapest items starting at $1.25 and the most expensive items costing shoppers no more than $5. The $5 price cap was announced back in June 2023 and now, less than a year later Dollar Tree is raising the cap to $7 according to WTEN.

Company CEO Rick Dreiling made the announcement by saying,

"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."

 

Why Are Prices Going Up at Dollar Tree?

Dreiling told WTEN that the company needed to raise prices so they would be able to new products to store shelves saying,

"Over time, you will also see us fully integrate multi-price merchandise more into our stores, so 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."

 

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Dollar Tree didn't provide an exact date for the price increases but we can only assume it should be noticeable at stores soon. Dollar Tree has approximately 200 locations spread across New York State including Hudson Valley stores in Poughkeepsie, Fishkill, Wappingers Falls, Newburgh, Kingston, and New Windsor, New York.