Dollar Tree Raises Prices to $7 as Inflationary Pressure Hits Lower-Income Families

Discount retailer Dollar Tree announced it will raise its price cap to $7 on items at thousands of its stores across the nation as soaring prices continue to take their toll on the most economically vulnerable Americans. Dollar Tree CEO Rick Dreiling told investors during a conference call on March 13: “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 $7.00.” The higher cost items will include food, pet, and personal care items, according to Mr. Dreiling. “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,” Mr. Dreiling said....