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Lets not make it a race thing. When it comes to business, I understand there is employment discrimination. I think everyone knows there's lots of dodgy traders and business people out there.
The fact that its sub-contractors is good and bad, supply may be affected - but so far only 2 suppliers have been fingered, not all of them. There is still scope for long term gain. This pandemic is a god-send for boohoo, and the news is free advertising/publicity. After this blows over, there will be more people buying Boohoo, its expanding and there's no stopping that. Perhaps they might switch suppliers and may be opt for suppliers abroad if necessary. 60% of their supplies are already from abroad.
DON'T BELIEVE THE HYPE
Leicester City Council believes there to be about 1,500 textile factories across the city. The news will have you think all the suppliers are guilty, but on sky news they spoke to one and the managers who said various authorities had done checks and he was paying minimum wage. As far as I know last week Gangmasters and Labour Abuse Authority (GLAA), Leicestershire Police, Leicester City Council, National Crime Agency, Health and Safety Executive, Leicestershire Fire and Rescue and Immigration Enforcement, were all involved in investigations and didn't find anything wrong with . So clearly not all them. Heres a few interesting links
https://www.ft.com/content/6839e4f6-2afc-4061-a57a-5081dbb7d323
Yes there are poor working conditions, and cases of underpaying:
https://www.personneltoday.com/hr/poor-working-conditions-afflict-10000-people-in-leicester/
Working with companies to address the issue not against:
https://www.policeprofessional.com/news/nca-investigates-modern-slavery-allegations-in-leicester/
All companies use supply chains who use subcontractors. There will always be those trying to get away with things they shouldn't. The white race is guilty of doing this too. This isn't confined to Leicester. This is UK wide. This is worldwide. How do you think the likes of Trump made his billions?
Applegarth. Your view of the supply chain issues that exist across different sectors should be tackled.
I agree all of that could and probably does happen. If you take the Leicester factories quite often they will be approached by people begging for jobs at low wages supplemented by benefits. Being close knit communities they take them on, everyone benefits.
Of course there is cost pressure and hard negotiation from the big boys but they are all too mindful that putting the small suppliers under too much pressure so they can’t function won’t be in anyone’s interests.
Great strides have been made, bigger ones still need to be.
As you’ve said this is a big issue across many industries and most certainly isn’t confined to Boohoo. The incident that happened was nothing like how it’s been reported.
Boohoo will continue to push for improvements in the supply chain, their suppliers are worldwide so I’d expect they will continue to source quality product for the right price from somewhere. They already work with worldwide compliance and audit consultants to ensure this is so.
Where are young people going to buy their clothes? Primark who haven't the up to date fashion that Boohoo has for the young. Asos and Next where they're going to have to pay more. The High St. shops who also don't have the most up to date fashion like Boohoo has.
Boohoo are well ahead of anyone. They use the test and repeat business model. Nobody in the UK uses this business model. The test and repeat model is getting items made quickly, put them on the website, if they sell, order more. Boohoo are brilliant at this and no-one in the UK can touch boohoo for it.
Bad typos sorry.....i corrected the typos for clarity..
WallStCrash....only one thing wrong with your analysis.... (well half a dozen things wrong)
The supply chains are constantly under pressure by the bigger companies to make the goods at a lower rate. I know for a fact that the big boys actually make threats to their suppliers. If you don't comply then we'll use other suppliers. This happens throughout the whole retail industry which are the biggest employers of ethnic groups, Asians and immigrants. The smaller satelite suppliers are constantly under enormous pressure to clip their rates until they have to cut
legal corners to the point of desperation in order to maintain their contract. In some cases no contract is not even in place. Some retailers even give the suppliers a list of charges that are obviously so low a profit is not possible unless they use shoddy materials and make their workers do over hours ie 12hr shifts at almost one third of the National rate. The workers won't complain because many are illegal and in some cases are protected and shielded by their bosses by allowing some to sleep on the premise and even deduct rent. This is scandalous. The Govt knows all this and had also turned a blind eye so as to get these illegals working and off welfare. Why do you think this scandal has not been adressed...it is because the Govt is reluctant to send them all back. Why?
Asda workers are taking bosses to court for under paying. The public won't interfere either as they/we all benefit from cheaper goods. Farmers in particular are held to ransom by the supermarket bosses...with nil to mimimal profit produce. When current investigations are complete by the 'watchdog' they'll be serious consequences and a return to more realistic costings that will mean higher wages and increased costs that in turn will make companies in the retail sector raise prices. Boo.hoo will lose millions and may even have to use more upmarket suppliers that won't be dictated to by the big retailers. The back street suppliers will have to demand realistic rates for the work involved to make theur fashion clothes. We will see the end of cheap labour for cheap goods. That's if pressure is put on the Govt TO ACT....failure to act vould be disastrous and may cause the FCA to strike off some listed companies but certainly will prosecute some of the worst sweat shops.
Applegarth - another one who has done no proper research on boohoo or the fca or suppliers. You must be really desperate to get this share price down to buy in cheaper.
Another one to filter.
Young people are *much* smarter than you thing, and their news feeds are different - reddit - instagram - etc together with a keenness to explore deeper.
I must admit I pay The Guardian every month, but I never actually read it anymore, just put money in the hat to support FREE Journalism. (FREE as in FREEDOM - and not trying to sell you sh&t )
WallStCrash....only one thing wrong with your analysis.... (well half a dozen things wrong)
The supply chains are constantly under pressure by the bigger companies to make the goods at a lower rate. I know for a fact that the nig noyd actually make threats ti their suppliers ifvyou don't comply then we'll use other suppliers. This happens throughout the whole retail industry which are the biggest employers of ethic groups, Asians and immigrants. The smaller satelite suppliers are constantly under enormous pressure to clip their rates until they have to cut
legal corners tivthe point if desperation in order ti maintaib their contract. In some cases no contract is not even in place. Some retailers even give the suppliers a list of charges that are obviously so low a profit is not possible unless they use shoddy materials and make their workers do over hours ie 12hr shifts at almost one third of the National rate. The workers won't complain because many are illegal and in some cases are protected and shielded by their bosses by allowing some to sleep on the premise and even deduct rent. Thus us scandalous. The Govt knows all this and had also turned a blind eye so as to get these illegals working and off welfare. Why do you think this scandal has not been adressed...it is because the Govt is reluctant to send them all back. Why?
Asda workers are taking bosses to court for under paying. The public won't interfere either as they/we all benefit from cheaper goods. Farmerd in particular are held to ransom by the supermarket bosses...with nil to mimimal profit produce. When current investigations are complete byvthe 'watchdog' they'll serious consequences and return to more realistic costings that will mean higher wages and increased costs that in turn eill make companiesvin the retail sector rause prices. Boo.hoo will lose millions and may evrnvhavevto use more upmarket suppliers that won't be dictated to by the big retailers. They won't cut orices under these conditions and wr wilk see the end of cheap labour forcheap goods. That's if pressure is put on the Govt TO ACT....failure to act vould be disastrous and may cause the FCA ti strike off some listed companies but certainly will prosecute some of the worst sweat shops.
Yes the Guardian so few readers they always put up a begging advert of £1 to support them
Nice, just what I like to hear, thanks rebs
More lazy journalism from tv as well as papers.
Boohoo were associated with a company down the supply chain that pays less than the minimum wage. Despite good governance and due diligence this happens . Could have been any number of fashion sellers.
Reality is it’s the people further down the supply chain that benefit from this practice. The ‘savings’ aren’t passed on to the big company at the top. But that doesn’t make for very interesting news, so the details are skimmed over and sensationalist headlines created.
This is a good company that makes lots of money in a difficult, and sometime treacherous market
Their warehouses are fulfilling orders round the clock. 180k-200k orders a day. I know several people who work in their Manchester distribution.
Very slick business. I will be looking to add more in the morning.
How many young people read or watch any news?
Rebs!!! How do you know sales are going through the roof? Genuine question
Plus I cannot imagine many Guardian readers buying Boo shares or products, their children might but not the old girls ..Anyway who reads the guardian anyway , it’s a begging for money newspaper run by a trust with a more dubious past than many.Boo!!!!
Clearly well researched article as the shareprice "closed at 530 p.
Nothing new there...Boo!!!!
Stupid guardian article.
'On Monday, shares in Boohoo closed down 17.7% at 530p.'
Cant even get the closing price right!
This will recover. Solid business solid fundamentals. Temporary reputation al damage because of a couple of rogue suppliers. Sales are still going through the roof!