Dollar Tree CEO Gary Philbin on how long coronavirus demand can last

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Dollar Tree CEO Gary Philbin told CNBC on Thursday that the company noticed a bump in sales related to coronavirus stimulus checks this spring. 

“Without a doubt we see it. The further we get away from that, it will be interesting to see how customers respond,” Philbin said on “Squawk on the Street.”

The discount retailer usually observes a sales spike related to tax refunds, Philbin said. But the increase following the disbursement of stimulus checks — part of the government’s $2 trillion coronavirus relief package in March — has been tax refunds “on steroids,” he said. 

“And it’s gone

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Notre Dame traces more than 50 coronavirus cases to off-campus party, official says

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Students on campus at the University of Notre Dame

Alfredo Sosa | The Christian Science Monitor | Getty Images

An off-campus party has led to a spike in coronavirus cases at the University of Notre Dame, which is now reporting more than 50 total cases since classes resumed just two weeks ago, according to a university official. 

Notre Dame reported 58 Covid-19 cases as of Sunday, a sudden uptick in infections about a week since students returned to campus for the fall semester, according to its coronavirus dashboard last updated on Monday. Half of the 30 tests processed on Sunday

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AMC has ‘substantial doubt’ it can survive coronavirus shutdown

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The world’s largest movie theater chain said Wednesday it has “substantial doubt” it can remain in business after shuttering all of its locations during the coronavirus pandemic.

In April, AMC Theaters said a new debt offering would allow the company to withstand these closures until a partial reopening ahead of Thanksgiving. However, in a filing with the Securities and Exchange Commission the company disclosed concerns about liquidity, its ability to generate revenue and the timeline of reopening its theaters.

In that filing, AMC released preliminary earnings results. The theater chain expects to have lost $2.1 billion to $2.4 billion in

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Alibaba’s sales surge as people shop online during lockdown

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(Reuters) – Alibaba Group Holding Ltd (BABA.N) on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns.

FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin, China May 16, 2019. REUTERS/Jason Lee/File Photo

As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core commerce business rising nearly 19% to 93.87 billion yuan ($13.16 billion) in the quarter.

Revenue at its cloud computing business rose about 58%.

Alibaba CFO

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