Dollar Tree isn’t just a store selling dollars.
The retailer intends to increase its inventory. Its prices are above $1.
“For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar – and we remain committed to that core proposition – but many are telling us that they also want a broader product assortment when they come to shop,” CEO Michael Witynski said, according to The Associated Press.
Witynski indicated that Dollar Tree would offer a wider range of products, but customers should still expect to find bargains.
“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.
Dollar Tree, like many other retailers, has had to adapt to the increasing cost of inflation.
According to the Associated Press, July’s annual inflation was 4.2%. This is the highest level in 30 years.