National chain Dollar Tree, which has MoCo locations in Derwood, Gaithersburg, Germantown, Montgomery Village, Rockville, and Silver Spring, has raised the price of all items in their stores from $1 to $1.25.
According to Market Watch, Dollar Tree says the higher prices are not a result of inflation, but rather to allow the company to offer a wider range of merchandise.
Dollar Tree began rolling out the price increase at its 2,000 locations in December. We’re told the price increases at the MoCo locations began this week and the company says they will have all stores switched over to the $1.25 price by the end of the first quarter.
“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,” said Dollar Tree president and CEO Michael Witynski.