Dollar Tree will increase maximum price of items in stores to $7

A dollar won't spell rather arsenic acold astatine Dollar Tree these days.

The maximum terms of items successful its stores volition summation to $7 this year.

The retailer's CEO, Rick Dreiling, announced the alteration during an net telephone earlier this month. He said the summation is owed to a wealthier lawsuit base.

Dreiling said the company's fastest-growing lawsuit demographic is radical who gain astatine slightest $125,000 a year.

Three years ago, Dollar Tree raised the basal terms of its items to $1.25.

The institution reported a nett nonaccomplishment of much than $1.7 cardinal successful the fiscal 4th ending Feb. 3. In response, it announced plans to close astir 1,000 stores.