Dollar Tree CEO Michael Witynski—who raked in around $11 million in total compensation last year—announced Tuesday that his company is raising prices to $1.25 at stores across the United States, pointing to the current "inflationary environment." "Corporations are using the excuse of inflation to raise prices and make fatter profits." But observers weren't buying Witynski's explanation for the imminent price hike, which was publicized as Dollar Tree reported $216.8 million in net profits for the third quarter of 2021.