Drew Estate has informed its retailers of a price increase for a “sizable number of items” in its portfolio effective February 1st, 2023. The company says the weighted average of the price increase is just under 4.5%.
In a communication to its retailers, the company said: “The primary purpose of these price actions is meant to mitigate a portion of the higher costs noted above. In addition, we took this opportunity to continue our pursuit of price integrity so that pricing across the Drew Estate portfolio is seamless and sensible, from a consumer perspective across types, sizes, and configurations. Looking ahead, and with a high degree of optimism that our business will continue to thrive in the face of continued economic uncertainty, we look forward to the journey ahead, together with our trusted partners.”
Current pricing remains in effect until January 31st, 2023.