InfIation has hit the United States hard, with a shocking 4.2 percent rate in July, the highest in decades. This economic pressure has forced businesses, including ‘Dollar Tree’, known for selling items at $1, to make significant adjustments.
‘Dollar Tree’ faced a decIine in stock prices, dropping nearly seventeen percent in one trading session, as it grappled with rising shipping costs and the need to combat inflation.
‘Dollar Tree’s’ decision to sell items for more than a dollar came after investors saw a hit of $1.50 to $1.60 per share of profits, a substantial blow for a retailer focused on the one-dollar price point.
The company cited the economic challenges posed by infIation and the pand emic as reasons for the pricing adjustments.
CEO Michael Witynski acknowledged the shift in a prepared statement, stating, For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar – and we remain committed to that core proposition – but many are telling us that they aIso want a broader product assortment when they come to shop.
Despite the drop in stock prices, Dollar Tree emphasized its commitment to providing value to customers. Witynski stated, We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50. The announcement sparked mixed reactions among customers, with concerns about the impact of the price change on the store’s appeal. WhiIe the stock prices have shown signs of recovery, the decision to sell items for more than a dollar raises questions about whether customers will continue to shop at ‘Dollar Tree’.
A heartfelt father-son duet by Phil and Nic Collins
As the Not Dead Yet Tour approached, legendary drummer Phil Collins began to experience nerve problems in his hand that made drumming increasingly difficult. To address this problem, he enlisted his son Nic Collins to take over drumming duties for the tour from 2016 to 2019. During a tour stop in Houston, the father-son duo shared a memorable moment when Nic walked up to the piano after Phil introduced him to the audience.
Phil revealed to the audience that Nic had discovered a song from his debut solo album, You Know What I Mean, that Phil himself liked. In a playful exchange, Phil joked about the number of songs Nic liked, and Nic clarified: “Two songs… mainly just one”. They then delivered a soulful performance of the song, with Phil on vocals and Nic on piano.
The performance was warmly received by Phil Collins’ fans, who were happy to see him perform live despite his health issues. The video of the performance has been viewed over 2.7 million times and many viewers were touched by the father-son collaboration. Comments praised the emotional connection and Nic’s obvious musical talent. One viewer remarked: “Wonderful to see father and son together like this”, and others confirmed: “Nic Collins has inherited Phil’s musical talent”.
The tour also allowed Nic to showcase his diverse musical skills, especially on the drums. At the same show in Houston, Nic demonstrated his drumming skills in a duet with percussionist Richie Garcia, impressing even his father. When Nic joined Richie and Phil for a cajon performance, the group developed into a dynamic drum trio.
After the tour ended in 2019, Nic continued to support his father as a drummer on the Genesis tour from 2020 to 2022. He also joined Mike and the Mechanics, the band led by his father’s Genesis bandmate Mike Rutherford, and showcased his drumming skills with them. In 2022, Nic released his solo project “Better Strangers”, which offers a deeper look into his drumming skills. With a promising future ahead of him, Nic Collins is ready to further his musical career while continuing his father’s legacy.
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