Discount chain Dollar Tree reeled in its outlook for fiscal 2021, citing escalating freight costs as the reason. The Chesapeake, Virginia-based retailer said it has started to book its own ocean vessels amid a tight capacity environment and will look for merchandise suppliers outside of Asia to mitigate transportation expenses going forward.
“We’re optimizing which China and U.S. ports we use to take advantage of the shipping availability,” Michael Witynski, president and CEO, told analysts on a...