MSNBC's Stephanie Ruhle rips Dollar Tree for blaming price hikes on inflation: They don't 'NEED' to do this

MSNBC anchor Stephanie Ruhle is taking Dollar Tree to task over its shocking announcement that its merchandise will no longer cost customers a dollar.

"For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades," the company said in a press release on Tuesday. "However, as detailed in its September announcement, the Company believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers. This decision is permanent and is not a reaction to short-term or transitory market conditions."

In a statement, Dollar Tree executive Michael Witynski said the change would give the company "greater flexibility to manage the overall business, especially in a volatile, inflationary environment."