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  "documentTitle": "Dollar Tree, Inc. (DLTR)",
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  "authorName": "Jeffrey C. Smith",
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  "presentationDate": "2019-01-07 00:00:00",
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  "notes": "The slide uses a comparison table to highlight Dollar Tree's outlier status regarding pricing strategy, then provides a narrative argument for moving away from the $1.00 price point.",
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      "text": "Importantly, from a customer check-out perspective, the $1.00 price point is a fallacy.",
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      "text": "Over time, given rising input costs and inflation, the value that Dollar Tree is able to offer to its customers while being bound by the $1.00 price ceiling has gradually declined.",
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      "text": "Looking forward, continuing global trade tensions and potential increases to tariffs will present additional headwinds for Dollar Tree. As such, we believe customers would strongly support an improved product assortment today that provides greater value and choice.",
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      "text": "To date, Dollar Tree has been able to generate positive same-store sales growth and adequate profits while maintaining the $1.00 price ceiling. However, the Company should not wait to make changes that could substantially improve the operations.",
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      "text": "Dollar Tree has attempted to add multiple price points to its stores only once in its past, during the 2007 – 2008 timeframe. The test was cancelled in 2008 with little explanation to investors.",
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      "text": "Importantly, from a customer check-out perspective, the $1.00 price point is a fallacy. Because of sales tax, customers cannot simply buy a single item with a single one-dollar bill. Furthermore, the operational simplicity of having a single price point is also a fallacy.",
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      "kind": "quote",
      "text": "Oops! We know it's not $1, but this deal was too good to pass up so we're passing the savings along to you. — Dollar Tree (2007-2008 test message)",
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