Bad News for Fans of This NJ Retailer

Forgive my naivety, but I thought that if you were shopping at a store that calls itself a "Dollar Store," they'd actually have merchandise that costs a dollar.

These days, when you shop at any of the so-called dollar stores, it's become more and more difficult to find items that cost a dollar.

Now comes word that shoppers can expect to see even higher prices at one of the dollar retailers with New Jersey locations.

Dollar Tree Plans to Raise Prices

Dollar Tree has announced plans to raise their price cap to seven dollars on a host of new items.

Dollar Tree stores currently offer a base price of $1.25 in its stores and a five-dollar cap.

So what's the deal?

The company has seen its customer base change a bit.

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Everyone Looking for a Deal

According to a report in  The Wall Street Journal, more affluent people have begun shopping in their stores.  In other words, people who have more money to spend.

The company plans to introduce several hundred items to appeal to those who have more money to spend.

I have to ask, aren't those same affluential people shopping in these stores because they're looking for the lower prices?

Dollar Tree to Close More Locations

Dollar Tree has over 16,000 stores throughout the country and nearly 200 locations in New Jersey.

They made news earlier when they announced the closing of a number of locations.  Additionally, the company plans to shutter hundreds more as their leases expire.

Dollar Tree Raising Some Prices to $7 as 6-Figure Earners Flock to the Discount Store (yahoo.com)