Honestly the more I read about predatory pricing, the more it seems like a complete fiction. One of those things that seems to make sense in theory, and maybe makes for a good political screed every now and then.

If low prices drove the competitors out, then high prices will surely see them flood back in.

Any firm that gains monopoly power and hikes the prices without inviting fresh competition probably worked out some sweetheart deal with the government--and even then, they're better off keeping margins fairly low, since a govt-approved monopoly is easier to justify when the firm is not obscenely profitable.

Ultimately I don't think a business born out of deep discounts is suited well to massive price hikes. It destroys the identity they've built with consumers and if they weren't in the game to be deep discounters over the long haul, then I'd say they'll die. They would be better off maintaining the discounts while improving their cost structure.