Dollar Tree Is Raising Its Prices And Closing Its Stores!

They might as well call itself Discount Tree.

The millionaire CEO of Dollar Tree claims that high end Americans are shopping more at these discount stores. Now he has announced by Fall 2024, Dollar Tree locations will start selling products for more than the current price of $1.25. 

They made the decision to raise the prices to $1.25 in mid-2020.

Stores already have products being sold for $2 to nearly $10. It is a sign of corporate greed and the results of a Congress not willing to put companies in check when it comes to service of customers.

The U.S. rather gives billions to Israel but not stop inflation, shrinkflation and raising the adjustable rates to make living and purchasing affordable.

President Joe Biden and former president Donald J. Trump are stuck in their ways when it comes to policies. 

Rick Dreiling is like the Kellogg's CEO Gary Pilnick when it comes to being tone deaf.

In an earnings call held this month, Dollar Tree, Inc. announced it’ll be adding hundreds of new items to its store shelves – but at a higher cost. 

“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,” said Dreiling. “But even as our multi-price assortment expands over time, the vast majority of the items sold in Dollar Tree stores will remain at our entry-level fixed price point.”

The recent price limit increase comes not long after Dollar Tree, Inc., who also owns Family Dollar, announced the closure of more than 1,000 Family Dollar stores nationwide.

Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year and 370 Family Dollar and 30 Dollar Tree stores over the next several years.

Many of these workers are overworked, not able to have lunch breaks, unruly customers, shoplifting and being not able to go to the restroom if staffing is just less than 3 workers.

The average wages of a Dollar Tree worker is $37,000 a year.

Dollar Tree acquired Family Dollar for more than $8 billion in 2015 after a bidding war with rival Dollar General, but it has had difficulty absorbing the chain.

“This dramatic cull is the coup de grâce in the rather botched acquisition of the Family Dollar chain, which has caused Dollar Tree nothing but hassle since it was completed back in 2015,” wrote Neil Saunders, managing director of GlobalData.

“Basically, almost ten years on, Dollar Tree is still sifting through the mess it inherited and has not been able to completely turn around,” Saunders said.