Dollar Tree announced that shortly they will expand their range and offer products for $1, $3, and even $5. This new format of store is called Dollar Tree Plus. The company has had significant success with this new format, as they have been testing it.

Dollar Tree released a statement from their president and CEO  Michael Witynski as their spokesperson. In the statement he speaks of the legacy that Dollar Tree has, as customers have enjoyed the "thrill-of-the-hunt"hrill-of-the-hunt" for the price of one dollar. He emphasizes that this legacy will remain at the core of the Dollar Tree experience. He continues, in saying that there have been "many are telling us that they also want a broader product assortment when they come to shop." the statement continues in mentioning that the prices will rise in a general matter over $1. To that the CEO states: "Our brand promise is that customers get great value [...] regardless of the price point, whether it is $1.00, $1.25, $1.50." 

I think Dollar Tree handled the situation very well. First to reassure their public the statement reinforces that the company will remain the same in the principles it stands for. They would like to retain their costumers and this promise to offer the same core experience that they are used to. Further, the statement goes into the expansion of their assortment. I think that is a wise decision. And they also reinforce their point by stating that they have tried that particular expansion to offer more prices ranging from $1 to $5. According to Michael Witynski in the statement, this expansion was very successful and they are doing it for the customers, to offer a better experience. Only at the end of the press release it states that prices will be raised to more than $1. But it is stated with the promise that Dollar Tree will be the same experience. The fact that the raise of prices is not mentioned before the very end tells me that they did not want to start with that for fear of a backlash, as they have not raised their prices in 40 years. To me, it feels like they want to hide it, so that the expansion of the assortment of products takes the spotlight and the raised prices are a little footnote in those news. Even stil, this statement is done well, and it seems sincere to me. I think saying it the way they did, for the betterment of the experience for their costumers, they did a fantastic job and will be better off because of it.