Dollar Tree announced yesterday that due to INCREASED costs (inflation for dumb people) they can NO LONGER sell items for $1. Most, if not all merchandise will have the prices raised to $1.25-$1.50 effective immediately. You make laugh at this but this HURTS the poorest among us the most and is the worst kind of tax in the country. That is a 25-50% INCREASE in the cost for the mathematicians out there.
www.wsj.com
Although Dollar Tree didn't cite specific economic factors for the change, it's not a stretch to assume inflation and increasing supply chain and labor costs influenced the decision. Last month, the retail chain said that rising shipping costs would take a bite of $1.50 to $1.60 out of its per-share profits this year. That’s a huge hit for any business, perhaps more so for one founded decades ago steadfastly calling itself "Only $1.00 Inc."
Dollar Tree to Sell More Items Above $1 as Costs Rise
The retailer plans to sell products at $1.25 and $1.50 or other prices slightly above $1 in some of its stores, as supply-chain snarls, a tight labor market and inflation push costs higher.
www.wsj.com
Although Dollar Tree didn't cite specific economic factors for the change, it's not a stretch to assume inflation and increasing supply chain and labor costs influenced the decision. Last month, the retail chain said that rising shipping costs would take a bite of $1.50 to $1.60 out of its per-share profits this year. That’s a huge hit for any business, perhaps more so for one founded decades ago steadfastly calling itself "Only $1.00 Inc."
