Most Dollar Tree Merch Not a Dollar Anymore

SAN ANGELO, TX - You’ve probably already noticed that not everything at “dollar stores” is a dollar anymore. 

Well, Dollar Tree is now offering prices as high as $7 on some of its products. According to the business, there are two reasons: inflation and the influx of higher-income customers who can better afford it. 

The retailer's CEO, Rick Dreiling, announced the change during an earnings call earlier this month. He said the company's fastest-growing customer demographic is people who earn at least $125,000 a year.

The increased price cap will allow for a broader range of choices such as food and snacks, beverages, pet care personal care and more, according to the discount retail giant. 

Information states that three years ago, Dollar Tree raised the base price of its items to $1.25.

The increased price cap comes after the retailer announced plans to shutter about 1,000 stores, including roughly 600 Family Dollar in the first half of the year. The company reported a net loss of more than $1.7 billion in the fiscal quarter ending Feb. 3.

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.