Latest news with #Dilts
Yahoo
19-07-2025
- Business
- Yahoo
Nordstrom hires Dollar General's turnaround CFO behind stock surge
Good morning. Kelly Dilts turned heads by steering Dollar General through massive operational shifts and soaring stock gains—now she's set to bring her playbook from deep discounts to the deep pockets of the luxury world of Nordstrom. Dilts resigned from her role of EVP and CFO at Dollar General (No. 112 on the Fortune 500) on July 11, and her final day is Aug. 28, according to an SEC filing. The company has begun a search for her successor. Dollar General declined to provide additional comments. On Aug. 29, Dilts will join Nordstrom, Inc. (No. 291) as CFO, the retailer announced on Thursday. Dilts became CFO at Dollar General in May 2023. She joined the company in July 2019 as SVP of finance, where she oversaw financial planning, procurement, margin planning, decision science and analytics, and investor relations. Previously, she served as EVP and CFO at Francesca's Holding Corp. and held senior finance roles at other major retailers. With nearly three decades of financial leadership experience, Dilts was praised by Nordstrom co-CEO Erik Nordstrom in a statement, calling her a leader with 'a proven track record of driving strong results at large-scale omnichannel retailers.' He expressed confidence in her ability to help strengthen the business. As of late May 2025, Nordstrom is no longer a publicly traded company, having completed its transition to private ownership under the Nordstrom family and El Puerto de Liverpool. In Thursday's announcement, Dilts said, 'Nordstrom is a company with a strong legacy, a clear sense of purpose, and a deep commitment to its customers, employees, and brand partners. I look forward to working alongside the leadership team to build on that foundation.' Dilts succeeds Cathy Smith, who left Nordstrom in March to join Starbucks as CFO. Shrinking 'shrink' Dollar General has faced notable challenges, responding to shifting consumer needs, regulatory pressures, and competitive headwinds, along with CEO transitions. In a December 2023 earnings call, Dilts said that 'shrink'—an industry term referring primarily to theft—'has been pretty significant for us for a while, and it's definitely going to carry into 2024.' She has credited improvements in this area to the company's Back-to-Basics strategy. Notably, Dollar General used AI to analyze self-checkout purchases, identify stores with the highest levels of theft and mis-scanned items. That determined the company's decision, led by CEO Todd Vasos, to eliminate the option of self-checkout in the vast majority of its stores. In Q1 2025, Dollar General's gross profit as a percentage of sales rose to 31%, up by 78 basis points, a gain Dilts attributed to reduced shrink and higher inventory markups. 'Our shrink mitigation efforts have continued to drive positive results, including a year-over-year improvement of 61 basis points in the first quarter,' she said on the June 3 earnings call. A top-performing retail stock Amid tariffs and inflation, Dollar General and other discount retailers have attracted more middle- and higher-income shoppers. After strong Q1 results, Dollar General raised its full-year guidance. DG stands out as the leading consumer/retail stock and one of the biggest movers since the market's February high. DG's share price increased from about $74 in mid-February to more than $113 by mid-July, a gain of over 50%. It is especially noteworthy as the leading gainer among major retailers and a driving force behind the S&P 500's latest rally. For the rest of the year, Morningstar equity analyst Dan Su expects Dollar General to remain attentive to tariffs, given that about 20% of sales are from imports. Su told me that the company has done a 'solid job' in attracting new shoppers, and he anticipates continued investments in merchandising, store renovations, and labor to sustain same-store sales growth. As Dilts moves on to Nordstrom, she will have the opportunity to once again execute a transformative strategy at another major retailer. Have a good weekend. Sheryl This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
17-07-2025
- Business
- Fashion Network
Nordstrom names Kelly Dilts new CFO
Nordstrom Inc. announced on Thursday the appointment of Kelly Dilts to the role of chief financial officer, effective August 29. Dilts succeeds Cathy Smith, who joined Starbucks as its new finance chief. In her new role, Dilts will oversee all core financial functions, as well as real estate, store development, and strategic sourcing at the Seattle-based luxury department store chain. "I'm honored to join Nordstrom at such a pivotal moment in the company's evolution," said Dilts. "Nordstrom is a company with a strong legacy, a clear sense of purpose, and a deep commitment to its customers, employees, and brand partners. I look forward to working alongside the leadership team to build on that foundation—focusing on financial discipline, operational excellence, and sustainable long-term growth." The financial expert joins Nordstrom from Dollar General, where she has served as executive vice president and chief financial officer since 2023. Prior to that, she served as executive vice president and chief financial officer for Francesca's Holding Corporation from 2016 to 2019 and senior vice president of finance and investor relations for Tailored Brands. "After a thorough search, we're excited to welcome Kelly to the Nordstrom team," said Erik Nordstrom, co-CEO of Nordstrom, Inc. "She brings three decades of financial leadership experience and a proven track record of driving strong results at large-scale omnichannel retailers. We're confident she'll help us strengthen our business, execute on our priorities, and continue delivering for our customers." In its most recent trading update in March, Nordstrom reported fourth-quarter comparable sales growth of 4.7%, compared with an estimate of 1.25%, according to data compiled by LSEG.
Fashion Network
17-07-2025
- Business
- Fashion Network
Nordstrom names Kelly Dilts new CFO
Inc. announced on Thursday the appointment of Kelly Dilts to the role of chief financial officer, effective August 29. Dilts succeeds Cathy Smith, who joined Starbucks as its new finance chief. In her new role, Dilts will oversee all core financial functions, as well as real estate, store development, and strategic sourcing at the Seattle-based luxury department store chain. "I'm honored to join Nordstrom at such a pivotal moment in the company's evolution," said Dilts. "Nordstrom is a company with a strong legacy, a clear sense of purpose, and a deep commitment to its customers, employees, and brand partners. I look forward to working alongside the leadership team to build on that foundation—focusing on financial discipline, operational excellence, and sustainable long-term growth." The financial expert joins Nordstrom from Dollar General, where she has served as executive vice president and chief financial officer since 2023. Prior to that, she served as executive vice president and chief financial officer for Francesca's Holding Corporation from 2016 to 2019 and senior vice president of finance and investor relations for Tailored Brands. "After a thorough search, we're excited to welcome Kelly to the Nordstrom team," said Erik Nordstrom, co-CEO of Nordstrom, Inc. "She brings three decades of financial leadership experience and a proven track record of driving strong results at large-scale omnichannel retailers. We're confident she'll help us strengthen our business, execute on our priorities, and continue delivering for our customers." In its most recent trading update in March, Nordstrom reported fourth-quarter comparable sales growth of 4.7%, compared with an estimate of 1.25%, according to data compiled by LSEG.
