A friendly heads-up to all you Texas bargain shoppers out there, one of our favorite "dollar" stores is set to raise its prices again.

In 2021 Dollar Tree raised its base price from $1 to $1.25. At the same time, the company moved the cap on prices up to $5. Well, by the end of this year, it has been announced that the bargain retailer will be raising prices again.

Per PEOPLE, the company has confirmed that its new price cap is going up by two dollars, making the new cap  $7. And there will be more changes in addition to the price hike

"This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7," company CEO Rick Dreiling reported during the March 13 call. Over time, you will also see us fully integrate multi-price merchandise more into our stores so our shoppers will find $5 bags of dog food next to our traditional $1.25 pet treats and toys, and our $3 bags of candy will be found in the candy aisle."

During the call, it was also announced that approximately 400 Family Dollar and Dollar Tree locations will also be closed in the coming years. The reason for this, they say, is in part due to lease expirations.

But at the same time, the retailer is growing. "The company expects to close approximately 600 Family Dollar locations. Dollar Tree purchased Family Dollar for $8.5 billion in July 2014, per CNN."

Additionally, per the press release, the “$3 and $5 center-store merchandise [will be] available at approximately 5,000 Dollar Tree stores. And the “$3, $4, and $5 frozen and refrigerated items available at more than 6,500 Dollar Tree stores.”

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