Friday, May 29, 2020

Dollar Tree CEO wonders how long a sales surge from customers spending coronavirus checks can last

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. . . . more