This is right out of the Book of Revelation.
Dollar Tree is about to start selling items for more than a dollar.
Why on earth is a company originally founded under the name "Only $1.00 Inc." selling stuff that ain't only $1?!
"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. "We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.50, $1.60."
He said it's to offer a "broader product assortment," which, I'm not saying, isn't true. In fairness to them, shares of Dollar Tree rose 13% on Wednesday. The company has also been testing a "Dollar Tree Plus" section to sell items for as much as $5 in some stores in the U.S.
Now let's just address the elephant in the room: BIDENFLATION.
It was only a matter of time until Dollar Tree had to accept its fate.
Back in July, annual inflation was at 4.2%, a three-decade high. Ironically, that was around the same time the Biden administration bragged about Fourth of July meals apparently being $0.16 cheaper.
It seems inflation forced Dollar Tree's hand into implementing the "Dollar Tree Plus" model sooner rather than later.
You think it'll stop at a buck sixty? The way the Bidenflation train is going, it'll be $2.00, then $10.00, then the only place you can probably afford to shop as we continue to tank our economy!
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