Discount variety stores chain Dollar Tree (DLTR), after rampant inflation drove the price of a dozen eggs to $4.21, a threefold rise from two years ago, Dollar Tree stopped selling eggs. Eggs will not be sold again, according to the discount retailer, until at least autumn. However, the halt could last even longer. After hitting a record of $4.82 per dozen in January, the average egg price dropped slightly to $4.21 per dozen in February 2023. The cost in February 2021 was just $1.59 for a dozen. Reuters first reported the news.
According to the Bureau of Labor Statistics, consumers paid an average of $4.21 per box of Grade A eggs in February, down from $4.82 in January. In comparison, in February 2022, a carton of Grade A eggs will cost about $2. Dollar Tree informed CNN that it cannot afford to sell eggs at these prices, despite advertising a primary price point of $1.25 for most of its products as well as some $3 and $5 items.
Economic statistics stated that the global avian flu outbreak in January caused egg prices to rise to all-time highs of almost $5 per dozen. Egg prices decreased 6.7% in February, according to government data on consumer prices published on Tuesday. Prior to the spring festivals of Easter and Passover, eggs are a popular item.
Due to economic instability, shoppers are increasingly turning to Dollar Tree shops for deals, so the company from Chesapeake, Virginia, has been investing in its refrigerated and frozen food and beverage selections. The merchant chain has experienced inflation, though. Despite being pulled from shelves, the eggs will probably go back when “costs are more in line with historical levels.”
A spokesperson said that Dollar Tree still offers butter in a select few areas. Economic statistics show that the price of butter increased by over 20% in February compared to the same month last year. Consumer protection groups have accused Dollar Tree and its major rival Dollar General Corp of selling junk food and driving out-of-business grocery shops that offered fresher produce.
Additionally, 8,200 Family Dollar shops with merchandise prices up to $10 are run by Dollar Tree. The spokesperson said that those shops still have eggs.
Celebrity News Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins and Herbs. Become a WebFans Creator and Influencer.
Groupon Shares Attractive After 15 percent Drop Post Q4
