INFLATION: Dollar Tree Stores To Start Charging More Than A Dollar For Some Items

How bad is the economy under Joe Biden?

Inflation is so severe that Dollar Tree stores, famous for their one dollar items, are now going to start charging more than a dollar for some products.

Who does this hurt the most? Working class people and the poor.

The Associated Press reports:

Dollar Tree breaks the $1 barrier as costs take a bite

Dollar Tree embedded in its very name what it stands for: Behind these doors, everything can be had for just $1.

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The mantra to which the Chesapeake, Virginia, company has held true for decades will now be only mostly true.

After expanding nationwide from only a handful of stores in Georgia, Tennessee and Virginia, Dollar Tree is breaking the mold and will sell items in some locations that exceed the tantalizing $1 grab-n-go price.

The cost of clothes, cars, food and just about everything else has soared this year as the global economy emerges from a pandemic uppercut and Dollar Tree has not been untouched.

Last month the retail chain said that rising shipping costs would take a bite of $1.50 to $1.60 out of its per-share profits this year. That’s a huge hit for any business, perhaps more so for one founded decades ago steadfastly calling itself “Only $1.00 Inc.”

“For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar – and we remain committed to that core proposition – but many are telling us that they also want a broader product assortment when they come to shop,” said CEO Michael Witynski in a prepared statement.

Biden has only been president for nine months.

How much worse will things look a year from now?

(Image:Source)

 

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