Lululemon founder decries brand ‘erosion’ as CEO prepares to exit

Underlying revenue up 17% to £1,597m · Global Online Learning up 25% driven by strong growth in US Virtual Schools; modest growth in OPM with good underlying growth offset by discontinued programs.· Global Assessment grew 34% with growth across all divisions, following the closure of test centres and schools and exam cancellations in 2020. · North American Courseware up 2%, driven by a recovery in Canada which more than offset a 2% decline in US Higher Education Courseware. · International grew 8% with growth in courseware, clinical assessment and PTE following school, bookstore and test centre closures last year. Statutory results · Sales increased 7% to £1,597m (2020: £1,492m) reflecting underlying performance, partially offset by portfolio changes and currency movements. · Statutory operating profit £9m in H1 2021 (H1 2020: £107m), with the decrease due to the profit on disposal of Penguin Random House in 2020 and restructuring costs in 2021 partially offset by improved trading and reduced intangible charges. · Statutory EPS 2.3p (H1 2020: 6.3p).

Chico's FAS, Inc. announced the closing of its amended and extended $300 million Senior Secured Credit Facility (the "Credit Facility"), consisting of a $285 million asset-based revolving credit agreement ("Revolver") and a $15 million "first-in last-out" term loan ("FILO"), with Wells Fargo & Company as the lead lender. The Revolver and FILO have a five-year term maturing on October 30, 2025. "We are pleased to announce that the Company has significantly strengthened our liquidity and enhanced our financial stability for the foreseeable future. As well, this new Credit Facility demonstrates the confidence our lenders have in Chico's FAS and the sustainable, long-term success of our brands," said Molly Langenstein, Chief Executive Officer and President. "We also are continuing to benefit from the aggressive measures we initiated earlier this year to streamline the organization and reduce operating and occupancy costs. These substantial ongoing cost savings initiatives are expected to benefit future years and reflect a cultural shift in how we manage our business."

Bonnier LLC and Guy Harvey Enterprises have entered into a new partnership for the custom publishing and production of the award-winning Guy Harvey Magazine, the official publication of the Guy Harvey brand now in its 12th year. Bonnier will act as Guy Harvey Magazine’s full-service publishing house, handling all aspects of design, production and sales for the title. “Having worked with the Bonnier team on a number of projects for many years, I’m truly excited about this new partnership,” Dr. Guy Harvey said. “They are consummate professionals and leaders in the marine media genre. Bringing together our expertise in research, education and conservation with their knowledge and broad reach to our collective audiences is a perfect partnership.” Guy Harvey Magazine was launched in 2010 with an editorial focus on the Guy Harvey lifestyle, specifically on marine conservation, education, fishing, boating, scuba diving and adventure travel.