MSNBC anchor Stephanie Ruhle takes over Dollar wood to task over its shocking announcement that the company was raising its famous cheap prices.
Dollar Tree confirmed this week that it is charging $ 1.25 for the majority of its products at all of its locations nationwide by the end of April.
“For 35 years, the Dollar Tree has managed, through inflationary periods, to maintain the all-for-one-dollar philosophy that separated the Dollar Tree and made it one of the most successful retail concepts in three decades,” the company said in a news release Tuesday. . “But as described in its September announcement, the company believes this is the right time to move away from the $ 1.00 price point limit to continue offering extreme value to customers. This decision is permanent and is not a reaction on short circuits. -sustaining or transient market conditions. “
In a statement, Dollar Tree CEO Michael Witynski said the change would give the company “greater flexibility to manage the overall business, especially in a volatile, inflationary environment.”
However, Ruhle does not buy the hint that current inflation conditions play a role in price increases.
“Let’s be clear, Dollar Tree does not need to raise prices,” Ruhle tweeted Wednesday. “Their biz is KILLIN it – $ 1.230 billion in profits, CEO pays $ 10MM.”
“DollarTree raises prices because they CAN- not bc they should. It’s a choice of how to share the benefits of their scale to customers? To employees? To shareholders? To management?” she added.
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Ruhle also wrote: “Just for example, input costs increase … that does NOT mean a company has to raise prices for customers. It is not automatic.”
In response to a Twitter user who suggested he does not blame companies like Dollar Tree for transferring costs, as they are “not a charity,” Ruhle replied, “Stock prices are record high. Demand is super strong Biz grows It’s not a charity – not near a charity. It’s a biz and companies decide what their priorities are.”
The MSNBC anchor has long downplayed the impact of inflation. Earlier this month, she claimed that the “dirty little secret” was that “while no one likes to pay more, we have on average the money to do so,” adding: “Household savings hit record highs over the pandemic, we did” I do not really have anywhere to go out and use. “
In May, Ruhle scolded companies for raising wages after a disappointing job report that poorly reflected the Biden administration.
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Ruhle recently claimed that Democrats have a ‘great economic story to tell’ despite rising inflation.
“Five million jobs created, 200 million people vaccinated. These vaccine numbers are directly linked to the economy. You could not open the economy without getting America healthy again. We see economic improvement. What the Biden administration is not doing is selling it, and that can they, “Ruhle told NBC colleague Chuck Todd.
The Dollar Tree says the $ 1.25 move will allow it to “significantly expand its offerings, introduce new products and sizes and provide families with more of their daily necessities.” In addition, the company emphasizes that it will be able to reintroduce items that were previously discontinued due to the limitations of the $ 1 price point.
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The discount retailer plans to roll out the new price points in more than 2,000 additional older stores in December as part of an initiative to mitigate rising shipping, distribution and operating costs.
FOX Business’ Lucas Manfredi contributed to this report.
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