Shopper calls on Dollar Tree & Five Below to 'change names' over rising costs (2024)

A SHOPPER has lamented the price rises seen at supposedly more budget-friendlier stores.

Americans across the country have felt their wallets squeezed post-pandemic as retailers jacked up prices as they scrambled to deal with rising costs.



Major chains such as Walmart have launched labels designed to cater to shoppers on a budget, but chiefs at discount stores have announced price hikes.

Dollar Tree bosses recently announced a hike that will see hundreds of items priced between $1.50 and $7.

Price hikes have sparked frustration – with some shoppers even questioning the purpose of some retailers.

“At a certain point, shouldn’t Dollar Tree, Five Below, and the like be forced to change their names?” one customer fumed on X, formerly Twitter.

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“I certainly couldn’t open a store called Rufio’s Everything Free Emporium and have price tags with the MSRP on all the products without getting in trouble.”

Dollar Tree was founded in 1986 but dozens of shoppers are now calling for the chain's name to change.

“May as well change their name,” a disgruntled customer said.

“Because the dollar store no longer exists. Kinda like five below, they should be five above now [sic].”

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Shoppers have claimed there are no items advertised for a dollar anymore.

One customer joked that the chain should be known as Seven Dollar Tree.

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Shoppers have accepted that the hike is just a sign of the times.

Despite the price rise, Rick Dreiling, Dollar Tree’s CEO, said the vast majority of items would stay at $1.25.

The exec also announced that $5 items would be found next to products on sale for $1.25.

Last year, Dollar Tree bosses announced the price of goods would be capped at $5.

How to cut the cost of your grocery shop

BELOW are some tips on how to reduce the amount you spend on groceries.

  • Write yourself a list -Only buy items that you need. If it isn't on your list, don't put it in the trolley
  • Create a budget- Work out a weekly budget for your food shopping
  • Never shop hungry- You are far more likely to buy more food if your tummy is rumbling
  • Don't buy pre-chopped veggies or fruit- The extra they'll charge for chopping can be eye watering
  • Use social media- Follow your favourite retailers to find out about the latest deals
  • Be disloyal- You may want to go to different stores to find the best bargains
  • Check the small print- It’s always worth checking the price per kg/lb/litre when comparing offers so you’re making a like for like decision as a bigger box won’t necessarily mean you get more
  • Use your loyalty cards-Don’t be afraid to sign up to them all. They all work slightly differently - work out what bonus suits you better and remember to trade in your points for additional rewards

Dollar Tree is set to take over the leases of more than 170 99CentsOnly stores.

Fellow discount chain 99CentsOnly filed for bankruptcy in April.

Meanwhile, bosses at Five Below admitted the chain suffered a poor performance in the first quarter of the year.

The retailer experienced a 2.3% net sales dip compared to the first quarter of 2023, per a company press release.

But they stressed that price rises would be the last resort.

Joel D. Anderson, the CEO and president of the chain, stressed the brand is constantly looking for ways how to give shoppers value for money.

“Five Below remains an extreme value, high growth retailer,” he said.

Chiefs expected the company to record net sales between $3.79 billion and $3.87 billion for the year.

Bosses have plans to open more than 200 stores this year.


Chiefs at Target and Walmart have announced price cuts and launched new labels.

In April, Walmart announced its new bettergoods food label and shoppers can score bargains on an array of products.

Most items under the bettergoods banner are on sale for just $5.

And the product prices range from less than $2 to $15.

Shoppers can pick up pasta for less than $2 and plant-based cheeses for under $4.

In May, Target bosses announced they were cutting prices on thousands of goods.

“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,"Rick Gomez, the chain’s executive vice president, said in a statement.

The discounts were announced before the Memorial Day weekend, providing a welcome boost for budget-conscious shoppers.

Aldi chiefs also announced price cuts in the run-up to the summer season.

Bosses have said they were always looking for ways that can help shoppers keep hard-earned cash in their pockets.

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Barbecue staples are among the products cut ahead of families and friends gathering for cookouts.

"We don't want food prices to hold people back from getting together with friends and family or spending time outdoors this season,” Dave Rinaldo, the president of Aldi US, told ABC News.

Shopper calls on Dollar Tree & Five Below to 'change names' over rising costs (2024)


Why did Dollar Tree change their name? ›

In 1993, the name Only $1.00 was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future, and part equity interest was sold to SKM partners, a private equity firm.

Is Dollar Tree raising prices again in 2024? ›

Dollar Tree is yet again not sticking to the dollar theme in its name. The company announced last month that it would be increasing the prices on items again. The official prices announced were a minimum of $1.50.

Is Dollar Tree changing prices again? ›

Dollar Tree's CEO did say in March the increase will start in 2024 across all stores. "This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7," Dollar Tree CEO Rick Dreiling said in the call on March 13.

Is Dollar Tree in financial trouble? ›

Dollar Tree on Wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings report. The discount store chain lost $1.7 billion in the fourth quarter, down sharply from earnings of $452.2 million a year ago.

What's going on with the Dollar Tree? ›

As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024. Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store's current lease term.

Is Dollar Tree turning into Dollar Plus? ›

Dollar Tree has already announced that it is on track in 2021 to have 500 Dollar Tree Plus stores by fiscal year-end – offering an assortment of value priced $1, $3, and $5 products. Another 1,500 stores are planned for fiscal 2022, and at least 5,000 Dollar Tree Plus stores are expected by the end of fiscal 2024.

Is Dollar Tree raising their prices to a dollar fifty? ›

In a recent earnings call, Dollar Tree executive chairman and CEO Rick Dreiling alerted media that prices will now rise to around $1.50 on average and cap at around $7 for higher-priced items (with $5 being the former cap).

Who owns Dollar Tree? ›

Dollar Tree is owned by Dollar Tree, Inc. Rick Dreiling has served as the CEO of the company since January 2023 and has held the role of Executive Chairman on the Board of Directors since March 2022.

Why is everything 1.25 at Dollar Tree now? ›

According to Yahoo Finance, a $5 price cap was announced in June 2023. The base price had also been raised to $1.25 in 2021. According to Dreiling, the move was made in order to add new products to their shelves.

Are Dollar General Dollar Tree and Family Dollar owned by the same company? ›

Dollar Tree acquired Family Dollar in 2015 for over $8 billion after a bidding war with Dollar General, but Wednesday's earnings report signals difficulty in maintaining the value of both brands. A customer exits a Dollar Tree store holding a shopping bag, May 11, 2022, in Jackson, Miss.

What is Dollar Tree's slogan? ›

In the midst of massive growth, Dollar Tree remains committed to our original mission: giving our customers extreme value at low prices.

Is Dollar Tree raising their prices in 2024? ›

Dollar Tree's CEO did say in March the increase will start in 2024 across all stores.

Is the Dollar Tree overvalued? ›

Compared to the current market price of 106.03 USD, Dollar Tree Inc is Undervalued by 29%.

When did Dollar Tree raise prices? ›

Dollar Tree raised the base price of items to $1.25 in 2021. "This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7," Dollar Tree Chairman and CEO Rick Dreiling said during the company's fourth-quarter earnings call earlier this month.

Who did Dollar Tree merge with? ›

Enter Dollar Tree Inc. According to a Dollar Tree, Inc. press release that announced Dollar Tree completing the acquisition of Family Dollar July 6, 2015, the merger would create combined organization with sales exceeding $19 billion annually with more than 13,600 stores across 48 states and five Canadian provinces.

What was Dollar Tree's original name? ›

You might think that an image of a tree would be fitting for a store called Dollar Tree, but we have to remember that Dollar Tree was originally known as “Only $1” and the first logo concept showed a neon banner and the store name.

What is Dollar General changing their name? ›

In an effort to cater to customers who want a more upscale shopping experience, Dollar General is opening retail locations that operate under a different brand. These stores are called pOpshelf, and they're meant to appeal to wealthier and more suburban customers.

When did Dollar Tree stop being a dollar? ›

Avid Dollar Tree shoppers can remember the good ole days when everything inside the store sold for just a single dollar. Sadly, that hasn't been the case since 2019 when the company introduced items priced at $1.25. In 2021, $1.25 was made the base price for the store.

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