Dollar Tree (Chesapeake, Va.) has announced it will sell items in some locations for more than the $1 price tag in its name promises, reports the Associated Press.
“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,” said CEO Michael Witynski in a statement.
Last month, the discount retailer announced that increasing shipping costs would decrease its per-share profits by $1.50 to $1.60. Annual U.S. inflation reached 4.2 percent in July, which is the highest it has been recorded in 30 years. Dollar Tree has started testing the higher prices in a section of the store it calls “Dollar Tree Plus.” Items in that section range from $1.25 to $5.