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		</div><p>US discount retailer Dollar Tree is raising the price of the majority of its products by 25 cents due to the rising cost of goods and freight.</p>
<p>The company said the reason for raising its prices to 1.25 dollars (93p) was not due to “short-term or transitory market conditions” and said the price increases were permanent.</p>
<p>The higher prices will also allow the company to cope with high merchandise cost increases as well as higher operating costs, such as wages, it said.</p>
<p>“(Dollar Tree) believes this is the appropriate time to shift away from the constraints of the 1 dollar (75p) price point in order to continue offering extreme value to customers,” the company said in a statement.</p>
<p>Dollar Tree was one of the last true dollar stores after most of its competition had moved away from that price point.</p>
<p>The company, which is based in Chesapeake, Virginia, said in September it was testing the higher prices at select stores.</p>
<p>On Tuesday, it said it will introduce the new price point in more than 2,000 additional Dollar Tree stores in December and complete the rollout to all its stores by early next year.</p>
<p>The company has about 8,000 Dollar Tree stores.</p>
<p>CEO Michael Witynski said he expects the Dollar Tree customers to remain loyal.</p>
<p>Its shoppers “believe that at 1.25 dollars, it’s still going to be an undeniable value because of what they’re seeing out in the marketplace,” Mr Witynski said on a call with industry analysts.</p>
<p>“And they know that Dollar Tree hasn’t raised its price in 35 years, so they’re giving us credit.”</p>
<p>The company’s stock rose 9.2% on Tuesday following the announcement, which was paired with the company’s quarterly earnings.</p>
<p>Analysts at Citigroup called the earnings “disappointing” but said investors are looking past earnings to the company finally raising prices.</p>
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