Chico's Q3 Profit Drops, Leadership Changes

Multiple companies undergo leadership changes, VA purchase loans increase in Lee County, HealthPark is recognized for heart care and more.



The search is open for a new Chico's brand president.

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Need to catch up on Southwest Florida business news? No problem. Here are the top stories of the week pulled from our daily newsletter, Gulfshore Business Daily.

Friday, Nov. 30

WATERWAY BOAT LIFT COVERS EXPANDS WITH NEW OWNER

Dan Lynch has assumed ownership of Waterway Boat Lift Covers. The company is expanding its service areas outside of just Southwest Florida to reach the entire state of Florida, Texas and some international locations, such as Antigua. Lynch, who previously served as the main distributor to the east coast, northern Florida and panhandle, will be working alongside Eric Craig who will now serve as the CEO of international operations. Under Lynch’s leadership, Waterway will be focusing on a customer-driven experience and completely revamp its customer relations processes and hurricane and crisis systems. Originally from Massachusetts, Lynch has been living and working in Southwest for the past 25 years. He started with Waterway four years ago and previously served as an installer, lead trainer and distributor working throughout Florida.

Thursday, Nov. 29

CHICO’S Q3 PROFIT DROPS, LEADERSHIP CHANGES

Chico's FAS posted a net income of $6.5 million for the 13 weeks ended Nov. 3, down from a net income of $16.7 million for the 13 weeks ended Oct. 28, 2017. For the 39 weeks ended Nov. 3, the company reported net income of $52.3 million, compared with a net income of $73 million, for the 39 weeks ended October 28, 2017. Brand performance in the third quarter was mixed, management said, with results including the impact of recent hurricanes. Shares of Chico's FAS are down 20.5 percent in premarket trading to $5.82 (a nine-year low), a report states. Chico's FAS, Inc. has also announced the departure of Diane Ellis, president of the Chico's brand, effective Friday. The company has initiated a search to identify a new Chico's brand president. In the interim, the Chico's brand will be led by Shelley Broader, the company's CEO and president.

Wednesday, Nov. 28

GOODWILL PRESIDENT, CEO TO STEP DOWN

Rick Evanchyk, president and CEO of Goodwill Industries of Southwest Florida Inc., will leave his post at the end of 2018 after four years as president and CEO and 15 years total with the organization. John Nadeau, currently the organization’s vice president of operations, will officially take over as president and CEO in mid-January 2019. Nadeau has worked at the organization for the last three years. Prior to his move to Southwest Florida, Nadeau spent eight years at Goodwill of the Olympics and Rainier Region in Tacoma, Washington—the majority of that time as director of stores. Under Evanchyk’s leadership, the Southwest Florida Goodwill agency has improved in organizational growth, persons served, community collaboration, and accomplishments including the development and expansion of its Pathways programs and its HUD Housing initiative for people with disabilities. Under his direction, the Goodwill housing program now has 16 focused apartments in operation with more than 200 residents. This is up from six apartments when he joined the organization.

Tuesday, Nov. 27

VA PURCHASE LOANS INCREASE IN LEE COUNTY

For the seventh-straight year, VA purchase loans increased year-over-year, with volume for fiscal year 2018 up 59 percent compared to five years ago, according to the annual VA loan statistics map released by Veterans United Home Loans, the nation’s largest VA lender. VA purchase loans in the Cape Coral-Fort Myers metro increased 145 percent in fiscal year 2018 over fiscal year 2013. Florida surged 106 percent in fiscal year 2018, compared to 2013. Nationally, the VA backed more than 610,000 loans in FY18 worth more than $161 billion, according to a press release. No other Southwest Florida data was included in the report. For more information, visit VeteransUnited.com

Monday, Nov. 26

HEALTHPARK RECOGNIZED FOR HEART CARE

 Lee Health’s HealthPark Medical Center is among the 50 Top Cardiovascular Hospitals for 2019, joining hospitals including the Mayo Clinic, Henry Ford Hospital and Duke University Hospital. IBM Watson Health’s 50 top-performing hospitals represent the best for heart care in the U.S., a press release states. HealthPark Medical Center is one of only two hospitals in Florida to earn the designation. The rankings are broken down by category, including Teaching Hospitals with Cardiovascular Residency Programs, Teaching Hospitals without Cardiovascular Residency Programs, and Community Hospitals. Lee Memorial Hospital and HealthPark Medical Center are included on the Teaching Hospitals without Cardiovascular Residency Program. The annual study identifies top U.S. hospitals for inpatient cardiovascular services based on a balanced national scorecard of hospital performance metrics. The IBM Watson Health 50 Top Cardiovascular Hospitals study is part of the Watson Top 100 Hospitals program.

In other news...

Stacey Adams helps women financially plan for the future. Read more here.

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