The End Of A Dollar-Priced Era As The Last Holdout Raises Prices

May 31, 2019

© Joe Raedle/Getty

It's the end of an era for America's last dollar store says they are raising prices beyond the dollar mark that is the hallmark of their name. Dollar Tree announced it would be raising prices in response to rising trade tensions between the United States and China, despite a better-than-expected quarterly report to Wall Street investors.  Competitor Dollar General made a similar announcement this week echoing that looming tariffs would affect the cost of prices in store resulting in higher prices overall for customers as the majority of their inventory has origins in China. Dollar Tree says they've been attempting to keep prices of their goods at or below a dollar but forecast for the remaining year simply can no longer support the model and thus, ending the era of dollar-priced merchandise, making them virtually extinct. The above one dollar mark ash already been implemented at Family Dollar and Dollar General.  The move follows other retailers, such as Walmart, Best Buy, Macy's and Ralph Lauren who warn prices will be raised on their goods. Washington dramatically escalated its trade war with Beijing this month by hiking levies on $200 billion of Chinese goods from 10% to 25% with new tariffs being considered on the remaining $300 billion worth U.S. imports from China. Both Dollar Store and Dollar General said they would be working with vendors to mitigate the impact the best they can.

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SOURCE: Daily Mail

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