Retail discount store Dollar Tree (DLTR) - Get Dollar Tree, Inc. Report announced that based on positive customer reaction to to its new Dollar Tree Plus store testing, the company plans to begin adding new price point items across those stores and also in selected legacy stores.
The company in on schedule in adding 5000 Dollar Tree Plus stores by 2024, where it will offer products priced at $1, $3, and $5.
Michael Witynski, President and CEO of Dollar Tree stated, “We are a ‘test-and-learn’ organization which is what we are doing with this new initiative. We listen to our customers and believe it will make shopping with us an even better experience.”
UBS recently analysts noted that, “The fixed price point has become restrictive over the years as inflation has eroded the purchasing power of $1.”
Dollar Tree also announced an additional $1.05 billion in its share buyback program, bringing the total amount authorized to $2.5 billion.