Dollar Tree raising prices to $1.25 storewide

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Dollar Tree store logos indicating that everything in the store is for $1 are promoted on its storefront window in Jackson, Miss. Dollar Tree, the national chain of stores that promises everything from a buck, will begin introducing items on its shelves that will exceed $1. The company said, Wednesday, Sept. 29, that it’s responding to customer requests and said pushing the $1 barrier will allow for a better mix of products. (AP Photo/Rogelio V. Solis)

CLEVELAND (WJW) — For decades, Dollar Tree customers shopped at the store for its simple promise: everything is $1.

But, as announced last month, prices are moving on up. Today, the store confirmed in its quarterly announcement that price is going to be $1.25 nationwide.

“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide,” Michael Witynski, President and Chief Executive Officer, said in a statement.

The prices are reportedly moving up to keep up with transportation and shipping costs and maintain their expected levels of profit margins.

The company is also rolling out $3 and $5 priced-items at select stores nationwide. The store kept prices at $1 for 35 years.

No word yet if the name of the store is going to change, too.

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