Someday you'll be able to tell the kids you remember when everything at Dollar Tree cost a dollar.
Those were the days.
The company is raising prices to $1.25, saying in test markets 91% of their customers we okay with the price increase, prompting Edgar Dworksy of Consumer World to suggest stocking up. "Well, for one, I'm not okay. I'm already stocking up on my anti-itch spray and my flower tortillas."
The company blames the hike on supply chain issues and rising transportation costs, and says the move is needed for their long-term interests. 200 stores will adapt the new pricing structure this month, and the rest by the end of 1st quarter 2022.
Where does the madness end?
"I know. It's really just shocking," says Dworsky in mock jest. "Obviously I understand they are facing inflationary pressures, but I think for the consumers who are used to just paying a dollar I think it's a shock."
Most shocking, perhaps, is that the CEO makes about $10 million a year, and with items prices at a buck, about 35% is profit.
photo: Getty Images