Dollar Tree plans to increase its price cap from $1 to $7, affecting pet, food, and personal care items.

Dollar Tree, a major US discount retailer, plans to increase its price cap in stores from $1 to $7, according to its fourth-quarter earnings call. The decision will impact categories such as pet-related items, food products, and personal care items. Dollar Tree has already introduced $3, $4, and $5 frozen and refrigerated items in over 6,500 stores and aims to introduce multi-priced items in an additional 2,000 stores by the end of 2023.