Business

Amid rising tariffs, Dollar Tree starts selling items for more than $1

[LENNY IGNELZI/ASSOCIATED PRESS]
By Gary Dinges gdinges@gatehousemedia.com
Posted: May. 31, 2019 11:42 am Updated: Jun. 3, 2019 10:56 am

Dollar Tree is revising its playbook.

The retailer known for selling everything for just $1 is now offering merchandise for more than a buck at about 100 of its stores, according to Business Insider.

The new Dollar Tree Plus! model is being rolled out at the same time rising tariffs are making goods imported from China more expensive. Almost half of the merchandise found in a typical Dollar Tree is sourced from China.

"With its 'Everything's a Dollar' model, Dollar Tree has remained one of the most unique, differentiated and defensible brand concepts in all of value retail," Dollar Tree CEO Gary Philbin said in a news release this week. "However, we have always been a 'test-and-learn' organization that is committed to evaluating all opportunities to deliver great value for our customers while driving long-term value creation."

Based in Virginia, Dollar Tree operates more than 15,000 stores across the U.S.

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