Dollar Tree's bosses has boasted to the company's investors that raising the price cap up to $7 will boost profits. Customers had reacted angrily to news of the higher prices - with one saying: 'So now it is Seven Dollar Tree, and they can up their prices.' But CEO Rick Dreiling said: 'We are already seeing a meaningful sales lift at the 1,600 Dollar Tree stores that have been converted to our newest multi-price format.' And chief financial officer Jeff Davis said that rolling out the $7 limit to more of the budget chain's 16,000 stores will 'drive higher gross profit per transaction'. The company says that the higher price cap allows it to sell a much wider range of items - including food, snacks, beverages, pet care and personal care - that attract wealthier customers.