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Daily Mail
12 minutes ago
- Daily Mail
The secret Dollar Tree signal that shows your favorite products have had their price hiked
A shopper has revealed the secret way to tell if prices at Dollar Tree have been hiked — look for a small red sticker. Brittanie Pyper, who posts as SimplisticallyLiving on social media, recently noticed that items at her local Dollar Tree were creeping up in price. She then did some snooping around her local store and discovered how shoppers can spot if items have seen a price rise. She spotted red dots on artificial flowers that had jumped to $1.75 from their previous $1.50. The same sticker showed up on storage bins, cleaning supplies, and bathroom essentials, all now priced at $1.50 instead of $1.25. Pyper even found a store cart stacked with red-dot stickers and signs warning that $1.50 toys were about to rise another 25 cents. Her findings come as shoppers reacted with fury to Dollar Tree's broader plans to raise prices. CEO Rick Dreiling has confirmed that the discount chain will lift its price ceiling to $7 at more than 16,000 stores nationwide, a move he says has boosted sales and attracted more affluent customers. Several customers on social media have noticed prices have risen on various beauty products Dollar Tree has long struggled with rising costs, which have forced bosses to raise prices. The chain first raised its iconic $1 baseline to $1.25 in 2022, calling the move necessary to 'materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials.' In April this year, it emerged that some locations had begun selling products with starting prices at $1.50. Stores have also been adding $3 and $5 items as part of the Dollar Tree Plus concept. The price rises sparked outrage on social media, with threats of boycotts from longtime fans But the price hikes haven't slowed business. Dollar Tree reported an 11.3 per cent jump in first-quarter sales, crediting the changes with helping it compete more aggressively with Walmart by offering upgraded seasonal and everyday goods. Dollar Tree has also declared war on Walmart by offering high-quality summer essentials. Dollar Tree has faced backlash from customers over its decision to raise prices Meanwhile, Dollar Tree has been reshaping its store portfolio. Its $ 8.5 billion purchase of Family Dollar once looked like a win, but that chain has struggled with declining sales and customer dissatisfaction. Earlier this year, Dollar Tree announced plans to close 600 underperforming Family Dollar stores. Family Dollar's future is now uncertain now that Dollar Tree agreed to sell the chain to private equity firms for roughly $1 billion. The deal was finalized earlier this month, leaving customers to believe that mass closures are unavoidable.
Reuters
12 minutes ago
- Reuters
Morgan Stanley hires Shahsingh from UBS to head North American industrials banking
NEW YORK, July 21 (Reuters) - Morgan Stanley (MS.N), opens new tab hired Aftab Shahsingh from UBS (UBSG.S), opens new tab to lead industrials services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for more than 15 years and led more than 50 advisory and capital raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank.
Reuters
12 minutes ago
- Reuters
Oil slips as little impact seen from EU sanctions on Russia
HOUSTON, July 21 (Reuters) - Oil prices fell on Monday, as the latest European sanctions on Russian oil are expected to have minimal impact on supplies, while U.S. tariffs stoked demand concerns. Brent crude futures dropped 26 cents, or 0.4%, to $69.02 a barrel by 11:08 a.m. EDT (1508 GMT), while U.S. West Texas Intermediate crude slipped by 24 cents, or 0.4%, to $67.10. The European Union on Friday approved the 18th package of sanctions against Russia over the war in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products refined from Russian crude. "The market right now thinks that supply will still make it to market in one way, shape or another, there is not too much concern," said John Kilduff, a partner at Again Capital in New York. Kremlin spokesperson Dmitry Peskov said on Friday that Russia had built up a certain immunity to Western sanctions. The EU sanctions followed U.S. President Donald Trump's threats last week to impose sanctions on buyers of Russian exports unless Russia agrees to a peace deal within 50 days. ING analysts said the part of the package likely to have an effect is the EU import ban on refined products processed from Russian oil in third countries, though it said it could prove difficult to monitor and enforce. Iran, another sanctioned oil producer, is due to hold nuclear talks with Britain, France and Germany in Istanbul on Friday, an Iranian foreign ministry spokesperson said on Monday. That follows warnings by the three European countries that a failure to resume negotiations would lead to international sanctions being reimposed on Iran. In the United States, the number of operating oil rigs fell by two to 422 last week, the lowest total since September 2021, Baker Hughes said on Friday. "Oil-focused drilling is expected to remain at subdued levels through the balance of the year," StoneX analyst Alex Hodes said in a note on Monday. "We aren't anywhere close to prices that merit a significant pullback in investment though," Hodes added. Meanwhile, U.S. tariffs on EU imports are set to kick in on August 1, though U.S. Commerce Secretary Howard Lutnick said on Sunday that he was confident the United States could secure a trade deal with the bloc. "The U.S. tariffs are potentially negative for oil demand and economic activity. We haven't seen it yet, but it is in the cards," Again Capital's Kilduff said. While tariff concerns will continue to add pressure in the lead up to the August 1 deadline, some support may come from oil inventory data if it shows tight supply, said IG market analyst Tony Sycamore. "It feels very much like a $64-$70 range in play for the week ahead." Brent crude futures have traded between a low of $66.34 a barrel and a high of $71.53 after a ceasefire deal on June 24 halted the 12-day Israel-Iran war.
