TRENDING

Gulfshore Business Daily: November 30

Share on facebook
Share on twitter
Share on linkedin
Scotlynn USA Division volunteers at Special Equestrians. Details below.

 

CHICO’S FAS INC. REPORTS NET LOSS OF $55.9 MILLION FOR THIRD QUARTER

Chico’s FAS Inc. reports a net loss of $55.9 million, or $0.48 loss per diluted share for the 13 weeks ended Oct. 31, 2020. The Fort Myers-based retail company’s third-quarter net loss includes the after-tax impact of impairment charges of $6.3 million, or $0.06 per share. For last year’s third quarter, the net loss was $8.1 million, or $0.07 loss per diluted share. Sales grew 14.8% and gross margin expanded 740 basis points from the second quarter of 2020. Soma’s 67% digital sales increase led the company’s year-over-year double-digit digital sales growth for the quarter. Significantly enhanced financial liquidity and flexibility with an amended and extended $300 million credit facility, the company ended the quarter with $145.2 million in cash and cash equivalents. Chico’s FAS, which includes a brand portfolio consisting of retailers Chico’s, Soma and White House Black Market, achieved $65 million in rent abatement and reduction commitments as part of a comprehensive lease portfolio review, according to third-quarter financial results the company released Nov. 24. 
 
 

STATE HOLDS $124 MILLION IN UNCLAIMED PROPERTY FOR SOUTHWEST FLORIDA

The state announced last week that Southwest Florida has more than $124 million in unclaimed property, a financial asset that is unknown or lost, or has been left inactive, unclaimed or abandoned by its owner. The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds. Unclaimed property totals more than $65 million in Lee County, more than $36 million in Collier County and more than $17 million in Charlotte County. To see if you have any unclaimed property or to submit your claim online, go to FLTreasureHunt.gov.
 

COLLIER COUNTY AMONG MOST PAYCHECK FRIENDLY PLACES IN FLORIDA

Collier County ranked No. 10 in SmartAsset’s list of “Most Paycheck Friendly Places” in Florida. The financial technology company analyzed data from the U.S. Census Bureau’s American Community Survey to determine which counties in Florida that have experienced the greatest amount of income growth throughout a five-year period. These results are part of SmartAsset’s overarching study on the most paycheck friendly places in the U.S. For more information on the study, including the methodology and interactive map, click here.
 

SMITH HOUSE RESTAURANT LAUNCHES ON MARCO ISLAND

Smith House launched for breakfast and lunch this month in the Olde Marco Village on the northern tip of Marco Island. The new restaurant is the latest from the Tony Smith family, which operated the concessions and cafe for decades at Collier County’s Tigertail Beach Park on Marco. The extensive menu greatly expands upon the comfort food items offered at the Smiths’ former beach cafe. Smith House brought in Executive Chef Patrick McGrath, a graduate of the Culinary Institute of America, to kick it up a notch. Dinner service will be added within the next couple of weeks. Smith House is at home in the charming space of the former Petit Soleil café at the quaint Shops of Olde Marco. Smith House, 210 Royal Palm Drive, is open 8 a.m. to 2 p.m. daily for breakfast and lunch for now. Read the full story at GulfshoreBusiness.com.
 

FORT MYERS COUNCILMEN HAVE IDEAS FOR SAVING CITY OF PALMS PARK

Fort Myers officials have differing ideas in mind for what’s next for an old ballpark, but the city has already asked the county to demolish the former spring training home of the Boston Red Sox. Before the wrecking ball swings at the City of Palms Park near downtown, a couple of councilmen want to at least float some new ideas. One believes the city should capitalize on the field already in place because amateur baseball is big business. In 2019, Lee County brought in $118 million from amateur sports, said Councilman Fred Burson. Another councilman, Liston Bochette, thinks the way to go is to create a multi-use complex combining education and sports for uses such as gymnastics, a conference center and a venue for everything from dog shows to tractor pulls. The city is working with planners to crunch the numbers for future uses of the venue, WINK News reports.
 
 

Video courtesy of WINK News

TREES GENUINELY GOOD FOR GROWING THE GREEN

The green on trees is not only good for our environment, it’s good for our wallets. “Trees are the soul of the world. They produce so much oxygen and they actually take up the extra carbon that’s in the air, they sequester it,” says Debbie Hughes, horticulture director for the Edison and Ford Winter Estates. Not only that, but UF/IFAS researchers estimate that trees save Florida cities $4 billion a year collectively. “Money doesn’t grow on trees, even though they have value,” says David Outerbridge, county extension director with UF/IFAS Extension in Lee County. “They act as filters for the air, their shading reduces heating and cooling costs, their roots, of course, help reduce stormwater runoff.” Researchers say preservation and management of urban forests are vital, not just for the environment, but for people, too, WINK News reports.
 

MEETINGS & EVENTS

 

Fort Myers CRA meeting set for Dec. 2

The Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners will hold its regular meeting from 9 a.m. to noon on Dec. 2. In accordance with social distancing orders limiting gatherings, anyone who wishes to join the meeting via Zoom may do so by calling 877-853-5257, toll-free. The webinar ID is 933 7901 0626. For assistance, contact the CRA office at 239-321-7100 or cra@cityftmyers.com. For more information, click here
 

CHARITABLE NOTES

 

Lisa Singleton with son Matthew during treatment.

The Richard M. Schulze Family Foundation issues $200,000 community challenge grant for Golisano Children’s Hospital specialty clinic in Naples

The Richard M. Schulze Family Foundation has issued a $200,000 challenge grant to build a pediatric hematology and oncology infusion clinic in Naples. The Clark Family Foundation has stepped up to meet the match by donating $100,000. An additional $100,000 is still needed to meet the match, for a total of $400,000 raised for the project. Last year, the Golisano Children’s Health Center of Naples saw 317 pediatric cancer patients in its existing oncology clinic. With the current schedule of seeing patients only on Tuesday mornings, the clinic is only able to see 9 to 10 patients each week. The newly renovated space will allow up to 30 children a week to receive chemotherapy treatments in Naples and meet with their Golisano Children’s Hospital pediatric oncologist without needing to drive to Fort Myers or farther. Golisano Children’s Hospital in Fort Myers is one of only nine hematology/oncology programs in the state for infants and children diagnosed with cancer or blood disorders and the only center between Tampa and Miami. To donate, visit BarbarasFriends.org.
 

David Lawrence Centers receives grant from Bank of America 

David Lawrence Centers for Behavioral Health (DLC) received a $5,000 grant from Bank of America to be applied to the capital expenses needed to purchase and renovate DLC’s first certified recovery residence: Hope Home. The six-bed recovery residence for men is located in Naples less than one mile away from the DLC main campus on Golden Gate Parkway that opened in June 2020. The cost to purchase the home and complete the renovations for the 5-acre, five-bedroom residence totaled more than $630,000. To date, 63 donors contributed $400,000 including in-kind furniture contributions from St. Matthew’s House and the former homeowner. The Bank of America funds will be applied to the remaining $200,000 needed to cover the remaining costs. To donate to Hope Home, visit DavidLawrenceCenter.org, call 239-354-1455, or e-mail donorcare@dlcmhc.com. For more information about DLC’s Hope Home admission criteria, e-mail HopeHome@dlcmhc.com, call 239-455-8500 or visit DLCHopeHome.org.
 

Scotlynn USA Division volunteers participate in United Way Days of Caring

Employees of Scotlynn USA Division in Fort Myers recently participated in two United Way Days of Caring, giving their time and some sweat equity to beautify the grounds at both Special Equestrians and the United Way main campus. “Special Equestrians holds a special place in our hearts. It is such an amazing organization, and we have always jumped at any opportunity to assist them over the past several years. After completing some landscaping work around the property, they gave us a tour and showed the impact they have on the lives of so many people in our community. It was a very rewarding experience to have a small part in helping a group that makes such a large impact,” says Jeff Taylor, logistics account manager at Scotlynn USA Division. United Way’s Days of Caring is a year-round program that connects groups with nonprofit agencies in need of assistance. If your company is interested in setting up a Day of Caring, contact Kim Berghs at 239-433-7547 or Kim@UnitedWayLee.org.
 
Don’t be the last to know what’s happening in Southwest Florida. Sign up for our free daily newsletter, Gulfshore Business Daily, to stay connected.

GET SOUTHWEST FLORIDA'S BEST VIEW OF BUSINESS STRAIGHT TO YOUR INBOX.

You May Also Like

Post-high school education on the rise

Little by little, Southwest Florida’s workforce is getting more skilled. The FutureMakers Coalition is an initiative by local leaders to raise the overall education level...

The Economy, the Pandemic and FGCU

The last 18 months have been an economic roller coaster for Southwest Florida. One would be hard-pressed to find any economist or soothsayer who predicted...