Dollar Tree to increase max price in stores to $7, reports higher income shoppers

[mahatmakanejeeves]

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Dollar Tree to increase max price in stores to $7, reports higher income shoppers

James Powel and Anthony Robledo USA TODAY
Published 8:35 p.m. ET March 25, 2024 | Updated 8:35 p.m. ET March 25, 2024

Discount retail giant Dollar Tree said that it would raise the price cap in its stores to $7 in its fourth quarter earnings call earlier this month.

"This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7," Dollar Tree CEO Rick Dreiling said in the call on March 13. .

A $5 cap was set in June, according to Yahoo Finance. In 2021 the company raised the base price of items to $1.25. ... The higher cost items will include food, pet and personal care items, though not all items will be at the $7 price cap.

{snip}

Dollar Tree sees traffic from higher income consumers

Dollar Tree executives said on the call that the demographics of their customers trended towards higher income brackets. ... "The fastest-growing demographic is north of $125,000 a year in income," said. "It's not like the Northeast is strong and the West is weak. That boat is lifting pretty even all the way up."

{snip}

[SWBTATTReg]

1. I don't shop here. Especially since they only have 1, maybe 2 people working in the store, so overworked, underpaid,

and thus, I don't support them/this store chain.

[Prof. Toru Tanaka]

2. We have one in our town.

I shopped there once and it was exactly as you described. It was also cluttered and dirty. I left without making a purchase and have never returned.

[SWBTATTReg]

3. Good for you (and me too). I won't support this chain, as I've read stories about this chain and the worker they

employ. There are plenty of other places to work, especially here in STLMO, where we drive around, and see 'hiring at $16 an hour (and up)! Yeah, sure I got some doo dads and knickknacks there, but it's not worth it to me, I'd rather support the workers by not supporting the scumbag corporation. Yeah, sure they may be the only place in small towns that employ a few people, but at what cost?

Surprising enough (or maybe not), they are actually hiring in STLMO, I saw this ad just a few moments ago. The job market in STLMO is pretty rich, pretty robust, so perhaps this is why they (DG) aren't finding the people they want to hire...by the way, Home Depot, as my other half said, said that Home Depot is starting folks at least $17 an hour...

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[Wonder Why]

4. "Home Depot is starting folks at least 417 an hour" Rubles or Pesos?

Sorry.

But you are right. Bet the $21 is for a manager position where you have to come in if one of the employees doesn't.

If that were the CEO's pay, better believe that the salaries would be increased!

[SWBTATTReg]

5. Thanks for catching. The 400 plus would be nice! Ha ha heh.