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A Dollar Tree store in Bowie, Maryland. Photo: Jim Watson/AFP via Getty Images

Dollar Tree will raise prices from $1 to $1.25 on most of its products by the end of April, the company announced Tuesday.

Why it matters: Dollar Tree, which has sold products at $1 for 35 years, was among the last of the major U.S. dollar store chains to retain its $1 price. The change is a reflection of the pressure on low-cost retailers amid rising inflation, CNN notes.

  • For decades, Dollar Tree looked to cheaply sourced goods — and rock-bottom costs to get them to stores — to deliver the $1 price tag some communities have come to rely on, Axios' Courtenay Brown writes.

Details: Keeping prices at $1 forced Dollar Tree to stop selling some customer favorites, the company said.

  • The $1.25 price point will enable Dollar Tree to "return to its historical gross margin range by mitigating historically-high merchandise cost increases, including freight and distribution costs, as well as higher operating costs, such as wage increases."
  • The company said that 91% of shoppers surveyed during the initial testing phase indicated they would shop at Dollar Tree with the same or increased frequency.
  • The decision is permanent and not a "reaction to short-term or transitory market conditions."

What they're saying: "Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers’ experience and unlock value for our stakeholders," President and CEO Michael Witynski said in a statement.

Go deeper

First time in 5 years: More stores open than close

A Dick s Sporting Goods concept store at West Town Mall in Knoxville, Tenn. Photo: Brianna Paciorka/Knoxville News Sentinel via Reuters

Retailers will open more stores this year than they close — for the first time since 2017, The Wall Street Journal reports from an analysis of 900+ chains by research company IHL Group.

Why it matters: "Stores have become integral in fulfilling e-commerce orders. They serve as distribution hubs and convenient places for shoppers to pick up and return online purchases," The Journal writes.

Bryan Walsh, author of Future
Updated 10 mins ago - Health

Omicron travel bans are sign of what's to come

Illustration: Aïda Amer/Axios

The travel bans and border closures prompted by the Omicron variant likely won't fully prevent its spread, but that won't stop countries from leaning on the measures.

Why it matters: The rapid speed at which countries turned to travel bans with the emergence of Omicron indicates border controls will increasingly become a weapon against infectious disease — whether or not public health experts agree they are effective.

30 mins ago - Politics & Policy

GOP fights itself on shutdown politics

Reporters question Senate Minority Whip John Thune before the Republican Party's weekly lunch on Tuesday. Photo: Kent Nishimura/Los Angeles Times via Getty Images

GOP leaders on Capitol Hill are scrambling to reach a deal with a bloc of 15 Senate Republicans threatening a government shutdown to force a fight over the Biden administration's vaccine mandates.

Why it matters: The push to defund the mandates — by holding the short-term government funding bill hostageis largely symbolic, and highly controversial within the Republican Party. A shutdown as early as midnight Friday could trigger everything from national park closures to delays in receiving Social Security checks.