Dollar Tree has pulled eggs from store shelves over prices skyrocketing, the company said.
Egg prices have increased by as much as 60% in the last year, prompting the popular discount store to pull eggs over not being able to make a profit, Reuters reported.
The majority of merchandise at Dollar Tree sits at $1.25, though the store also has other items for $3 and $5.
“Our primary price point at Dollar Tree is $1.25. The cost of eggs is currently very high,” company spokesperson Randy Guiler said, according to the Washington Examiner.
Despite the eggs getting pulled, they will likely return to shelves when “costs are more in line with historical levels.”
Dollar Tree operates about 8,000 locations across the US and Canada.
Consumer egg prices saw a slight dip last month, but still reported a 55% increase in the one-year span from the same month the prior year.
A dozen large Grade A eggs cost an average of $4.21 in February, down from January’s $4.82 average, according to data from the Federal Reserve Bank of St. Louis.
With Easter approaching, prices could increase again.
Dollar Tree prices the majority of its merchandise at about $1.25 — much lower than the rising price of eggs.REUTERS/Erin Scott/File Photo
“Wholesale prices continue to rise, which indicates retail egg prices have not peaked. The teetering flock numbers couldn’t come at a worse time for consumers,” David Anderson, Texas A&M University AgriLife Extension, Bryan-College Station, told the Poultry Times. “The January USDA egg report showed prices were steady to slightly lower than December, but yearly prices for eggs often peaks each spring due to Easter holiday egg hunts and baking.”
Dollar Tree did not immediately respond to Fox News Digital’s request for comment.
Source link: https://nypost.com/2023/03/19/egg-prices-so-high-dollar-tree-pulls-them-from-shelves-completely/