Things at Dollar Tree are getting a bit pricier. Now, the most you might pay for something there will be $7.

The big boss of Dollar Tree, Rick Dreiling, shared this news a little while ago. He explained they’re doing this because now they have more customers who have a lot of money. In fact, the people shopping there the most are those making over $125,000 every year.

Dollar Tree also said it’s going to close down 1,000 of its shops in the next few years. This news came after they talked about how much money they made last year. Remember when everything used to cost $1.25? That was a change they made three years back.

But, they’ve hit a tough spot recently. At the end of February, they found out they lost more than $1.7 billion. So, they decided to close almost 1,000 stores to help fix things.