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Hello people. Sorry if this has been posted before as I didn't have time to read all the posts. It is from our "friends" motley fool on boo. They have been not nice in the past but the change of tone is appreciated:
"Review outcome
We had the results of the review on Friday, and it’s looking as comforting as I expected. After conducting the review, Alison Levitt QC reported said she is “satisfied that Boohoo did not deliberately allow poor conditions and low pay to exist within its supply chain, it did not intentionally profit from them and its business model is not founded on exploiting workers in Leicester.”
The Boohoo share price gained 10% in response, on the morning of the report’s release.
The review did identify “many failings in the Leicester supply chain“. But it also pointed out that Boohoo was in the process of rectifying those failings even before July’s news broke. That process, however, “did not advance quickly enough“.
For me, the publication of the review should put this problem where it belongs. It’s a one-off, it wouldn’t have been a long-term issue anyway, and Boohoo shareholders can get back to thinking about Boohoo share price growth.
Valuation
Boohoo shares are on a P/E of around 40. But that would drop to 32 on the following year’s forecasts.
To put that into perspective, at the end of the 2016-17 year, Boohoo shares were on a trailing P/E of nearly 70. That’s come down a lot, even though the share price is higher now. It’s because EPS will have more than trebled by the end of this year if current forecasts are accurate.
I doubt we’ll see another trebling in the next four years. But I think we’ll see enough to make the Boohoo share price look cheap now".
GLA on next week. ..as if we needed.
ST
Hard to predict what will happen over the next two working days prior to 30th. On one hand maybe some bad press as journalists try and dig deeper for more expose but difficult to see how after today's mammoth RNS plus the business news will be awash with Covid19, William Hill/possible888 bids plus the future of football clubs pubs and cinemas sadly so any story regarding BOO will have to be an headliner methinks and I cant see one.
Odd that the report came out today just before a weekend however and not accompanied by the results as BOO intended?? Maybe nothing odd at all just the fact the report was able to be published sooner and had to be done immediately.
'Twas a good day today and the report has clearly pushed away the stops that were preventing the sp to return to £4+ The question is whether the Guardian/Times report has hit sales during the summer quarter or not. Usually the sp builds up then on results day mid morning profits are taken. Then a slow build up starts all over again...usually if no director sells days later of course.
So I'm expecting a rally up to £4 personally by Tuesday but as mooted below any drop will likely be bought into now the QC has reviewed matters. GLA
Negative press is not always bad news, it presents opportunities, if this is under 360p on Monday I am buying another 20k worth.
If it is 400p plus then I shall enjoy the profits and take them and buy back in on dips.
Also having fun with Corsair Gaming, money to be made there easily as its so cheap at moment and new to market, great company, solid fundamentals and great high end products.
As certain as Death and Taxes there WILL be some very negative press this weekend, both form the Times and The Guardian.
IGNORE IT!!!!!
Capitalism doesn't care! Its gonna be old news soon. The enquiry was independent. The fact that Boohoo admitted some short cumming's has satisfied Mr Market and soon we will see RNS' of funds piling back in.
Yes, I said £3.40 - £3.50s and we have been hovering around the top of that most of the day, but given all that is left to come is great numbers, new acquisition updates, the numbers from a fully integrated PLT, back to Lock Down where Boohoo thrives £4.00 + is inevitable.
Who was the guy boasting about selling off at the early £3.00's. That's got to hurt. Fine taking profit, but don't boast about it.