Dollar Tree Raises Price Cap to $7 Amid Store Closures and Net Loss

The discount retailer aims to attract higher-income shoppers with a broader product range, as it announces significant store closures and a net loss of $1.71 billion.

Dollar Tree announces a price cap increase to $7 across 3,000 stores, expanding its multi-price assortment by over 300 items.
The price increase follows previous hikes, with a $5 cap set in June 2023 and the base price raised to $1.25 in 2021.
The move targets a broader range of products, including food, pet, and personal care items, and aims to attract higher-income shoppers.
Family Dollar, owned by Dollar Tree, will close approximately 600 locations this year, with additional closures planned in the coming years.
Dollar Tree reports a net loss of $1.71 billion for the quarter ended Feb. 3, 2024, amidst plans to close nearly 1,000 stores collectively.