Dollar Tree no more; $1 dollar store chain to raise prices 25 percent

The “dollar store” concept is apparently not immune to the recent spike in consumer goods prices across many sectors of the economy.

On Tuesday, the Dollar Tree store chain said that after selling stuff for $1 for over 35 years, they will raise prices in the first quarter of 2022.

The chain, one of last remaining true dollar stores in the US, said prices on most of its items will now cost $1.25, according to an CNN report.

In their quarterly earnings report released Tuesday, the company said selling items for $1 forced Dollar Tree to stop selling some "customer favorites," adding that raising prices will give the chain more flexibility to expand its product selection, CNN reported.

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