Dive Brief:
- Department store chain Nordstrom said Thursday that it appointed Dollar General CFO Kelly Dilts to serve as its finance chief, effective Aug. 29.
- The news comes a day after Dollar General announced that Dilts was planning to resign effective Aug. 28 to “pursue another opportunity.”
- “She brings three decades of financial leadership experience and a proven track record of driving strong results at large-scale omnichannel retailers,” Erik Nordstrom, co-CEO of Nordstrom, said in a press release. “We’re confident she’ll help us strengthen our business, execute on our priorities, and continue delivering for our customers.”
Dive Insight:
Nordstrom, which is now a private company following its $6.25 billion acquisition by the Nordstrom family and El Puerto de Liverpool, has a new finance leader.
“I’m honored to join Nordstrom at such a pivotal moment in the company’s evolution,” Dilts said in Nordstrom’s release. “Nordstrom is a company with a strong legacy, a clear sense of purpose, and a deep commitment to its customers, employees, and brand partners.”
The company’s previous finance chief, Cathy Smith, stepped down earlier this year for a CFO post at Starbucks, where she was offered a cash signing bonus of $5 million as part of a compensation package.
Dilts is departing Dollar General after about two years in the CFO seat. Prior to her current role, she served as the company’s senior vice president of finance for about four years.
“The Company has commenced a search for her successor,” the discount retailer said in a Wednesday securities filing.
Before joining Dollar General, Dilts served as CFO of women’s apparel retailer Francesca’s and senior vice president of finance and investor relations for Tailored Brands, formerly known as Men’s Wearhouse.
Her latest move from a budget retailer to one that is known for luxury and upscale customer service comes after Dollar General posted better-than-expected quarterly earnings results and lifted its full-year outlook in June. The company’s net sales increased 5.3% to $10.4 billion during its fiscal 2025 first quarter ended May 2.
“We believe our positive first quarter results are a testament to the importance of our value and convenience proposition for our customers, particularly in a time of continued uncertainty and a financially constrained core consumer,” Dilts said during a June earnings call.
Still, she said the tariff landscape “remains dynamic and uncertain, and there is a higher degree of variability in potential outcomes around tariff-related impacts, including on consumer spending, cost of goods and the supply chain.”