London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
These factory owners not only paying slave wages but also conning HMRC .
From the Guardian:
Records provided to the Guardian by the Insolvency Service show that HMRC was owed £618,059.66 by the company at the date of liquidation. As evidence that it had not been treated equally to other creditors, the authority said that over a four-year period from 2011 to 2015, Dariyai Products paid it just £58,575 out of total expenditure of more than £4m.
So in effect taxpayers are subsidising the cost of Boohoo's garments
Way too many people commenting on a business they clearly do not know and a generation they clearly do not understand either- someone yesterday claimed 'youngsters will be boycotting' ludicrous claims, unfortunately, the bulk of the 16-24 year olds will not care, they will continue getting their fashion fix at low prices and continue contributing to the fastest-growing retail business in years.
sla sold due to esg pressure. esg is now a key issue and a lot of money raised and fees taken are based on implementing esg. as for costs, they will move more abroad if no longer makes sense in the uk, which is what some analysts have suggested will happen. cost wise, adding 50p to a 5 quid dress isn't rocket science and will not make much difference to consumers either. more important is being seen to be dealing with the factory issue. the internal report is due in september and by then youd expect a plan to be in place to ringfence the issue and it will probably means exporting more manufacturing elsewhere. they already have a big supplier base abroad, it really wouldn't be that difficult.
You need to study their supply-chain; 60% of their supply chain is from Asia and they have been migrating away from UK anyway and this will accelerate, from there you can get good quality products and good prices. If you take a long-term look, at this prices with a trend towards online, its oversold.
Most people dont care about the origin, its only a small portion of consumers and their target market dont care.
joncl
“ Selling £10 dresses online”
If you have no idea of the price of their products, you should not be trading their shares.
https://www.karenmillen.com/pu-and-pleat-dress/AKK97832.html
Selling £10 dresses online, taking profits, paying packaging and logistics costs, fixed overheads etc and and paying thousands of workers the legal minimum wage, plus the manufacturer's profits, raw material costs, fixed overheads ?
Let's just assume that BooHoo are paying £3 a piece for those dresses, so how long would it take for a worker paid £8+ per hour to make a £3 dress ?
They'd have to make one dress every 20 mins just to cover their own wage.
Just doesn't add up for me, didn't add up for SLA either, so they sold £70m's worth of shares.
This is not rocket science.
BooHoo need to come clean.
When it comes to fasion - just look at Nike - there has been plenty of controversy in the past regarding slave labour and sweat shops, but just look at Nike now. This is probably definitely going to take a short term hit due to bad news, so I'm sad to say I've chickened out and sold at a lose. But I will be buying back in again when the bad news calms down. But its going to wash over quickly. Remember Boohoo aren't the suppliers of their clothing, they sub-contract so aren't the ones paying slave labour wages.
Like most media circuses it's overblown, yes its volatile, but i think it'll go up in the longer term. DYOR
Its because media wants attention grabbing stories, so they've blowing it up a bit. Trying to make out that all the textile industry is full of slave labour which is not the case. The truth is until they investigate all the suppliers then we dont know how many are breaking the law and under-paying people. Bad media coverage does negatively affect share price but we need to consider the facts. If you read the link below, authorities want to work with companies to ensure staff are paid in line with the law. In my opinion, this is because they don't want to make the workers unemployed but rather ensure they are getting paid fairly and not being maltreated.
https://www.policeprofessional.com/news/nca-investigates-modern-slavery-allegations-in-leicester/
The "de-rampers" were correct, this plunged. I didn't sell out in time so I took another loss which is minor. I need some opinions, is this always going to be volatile where it is only a day trade or is it even worth stating long haul?