Due to supply chain bottlenecks and higher costs, Dollar Tree is officially done limiting itself to $1 prices. Founded in 1986 in Virginia, it had been true to its name for thirty-five years. It was among the last dollar store purists— Five Below, Dollar General, and even Family Dollar (which Dollar Tree bought in 2015) regularly sell items for more than a dollar. However, amidst this year's inflation, which is the highest in 30 years, the chain is changing its ways.
Its main store abided by the dollar limit, but in "Dollar Tree Plus" sections, items could sell for as much as $5 (gasp!). CEO Michael Witynski assured the public that Dollar Tree wasn't forgetting its roots.
"We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50," Witynski said.Associated Press