Dollar General CFO to retire

Dollar General Corp.’s President and CFO John Garratt is retiring after nearly a decade with the discount retailer, the company announced Monday.

Garratt’s retirement is effective June 2.

The company said it will “evaluate options for its next CFO” in line with its succession plans and that it is not currently conducting an external search.

“John’s retirement comes after an outstanding career as an accomplished and trusted finance executive and most recently as our president and CFO,” Dollar General CEO Jeff Owen said in a statement. “His exceptional business and financial acumen, coupled with his strategic vision have positioned the company for profitable growth.”

Garratt came to Dollar General in 2014 as SVP of finance and strategy. He previously spent more than a decade in finance rolls with restaurant company Yum! Brands.

He has served as Dollar General’s president and CFO since September. During his tenure, he oversaw finance, accounting, investor relations, treasury and procurement functions, the retailer said.

“While I look forward to spending more time with family, this was a difficult personal decision as this is truly a special company,” Garratt said in a statement. “I am excited to watch all that the team accomplishes in the future and believe that Dollar General is well-positioned for continued growth in the years ahead.”

Dollar General this week announced the opening of its 19,000th store, in Joplin, Missouri. The Goodlettsville, Tennessee-based retailer has opened approximately 1,000 stores a year since 2012 and said it intends to keep that pace throughout 2023.

Dollar General started as a wholesaling coming in 1939 and opened its first retail location in Kentucky in 1955.