![]() ![]() ![]() “This is the appropriate time to shift away from the constraints of the $1.00 price point,” the company said in a news release.īut the decision to raise prices by 25% is a huge gamble for the company. The company said late last month it was throwing away those Everything’s $1 signs and walking away from its 35-year brand identity, announcing plans to raise prices to $1.25 on the vast majority of its merchandise at all stores by around May 2022. Just three months later, Dollar Tree changed course. “This dollar price point is going to be more important than ever,” Witynski said. But, as recently as August, Dollar Tree chief executive Michael Witynski said the company was committed to that price. “Ditch the dollar, I believed, and we’d surrender our niche,” Brock wrote.īrock said he didn’t know how long Dollar Tree could stick to selling everything for $1: Inflation made it more challenging every year. Without it, we’d be just another discount retailer,” Macon Brock, a Dollar Tree founder, said in his 2017 autobiography “One Buck at a Time.”ĭollar Tree was originally named Only $1.00 in 1986. “I viewed the dollar-only concept as sacred. (DLTR) purchased the trademark of the brand that had once sued it). (DLTR) plastered big green and yellow “Everything’s $1” circles throughout its nearly 8,000 US stores (Dollar Tree (DLTR) sold toys, home furnishings, kitchenware, holiday decorations, stationary, party supplies, arts and crafts, books, food and household essentials for $1. The executives came up with a different name: Dollar Tree. They were building upon the concept of a store they had stumbled across called Everything’s A Dollar, and thought they could do it better.īut Everything’s A Dollar wasn’t so thrilled to welcome the competition, so the company sued, forcing Only $1.00 to change its name. In 1986, three retail veterans opened a chain of stores in the southeast named Only $1.00. ![]()
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