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Couldn't agree more!! Some random guy buys a few polo shirts, moans about the promotion then its a $100 Mill Law Suit? Its mental.
They will be looking to get some sort of settlement so Boo will be weighing up whether they want to save money (Settle), but admit they were in the wrong or risk spending money and losing and still getting called out. Tricky one, but my god its one thing after another isn't it and I really feel there is a coordinated attack on this company.
How did that Sky news article coincide with Mahmud suddenly having to give evidence, Amazon numbers, US growth numbers, China market issues all sprinkled with a bit of Marshall Wace selling off in the morning and here we are.
Last year there was a real appetite to buy at these levels. Seems more muted this time.
However, how many times have you felt like its the end of the world when it drops like this only for 6 months later it to have completely reversed and you think to yourself, what was I worried about? why didn't i buy more??
It just feels uncomfortable, but your future self will thank you for it.
Boos time will come again, just let the circus of the markets rotate.
Simon,
Isn’t this USA fraud case over a $150 purchase?!……only in America could a single consumer force a CEO to testify at what is effectively a small claims hearing! Ha ha.
I’ve been out of boo for a while now and set an alert at 250p months ago, forgot all about it to be honest.
Back in with 30k shares. The media loves to beat the crap out of Boo, largely due to the engrained institutional racism. The trading figures will soon turn this back around and the noise will disappear.
The USA fraud case has been hanging around for months and many on here said it was a minor distraction. When it comes to USA lawsuits, they can prove expensive.
On the Leicester factories, again this story of getting around paying the minimum wage, will subdue the share price. There seems to be a ring of truth about it. So long as BooHoo aren't part of it, things should recover.
However, I remember reading a very interesting article in the Telegraph about a year ago which 'alleged' that a large number of Leicester factories had links to the Kamani 'extended family' and every time the authorities came close to exposing irregularities, the clothes company involved was liquidated and another company set up. I found that of particular concern because if true, it will be very damaging. Until the mud settles, I'm avoiding this share.
Canetoad: If you are meaning Boohoo has more assets than liabilities, and they are making good money with a healthy balance sheet in cash reserves then I agree yes.
Though Boohoo does have longterm debt on their books, deferred income tax, etc.
The shorting crew are selling 5k share chunks
*know (sorry bad English)
keep in mind none of the customers no about all of this over reaction nor do they care, business as usual as far as Boohoo is concerned.
A few factors in play here today:
- FTSE down (yes I know it’s AIM)
- Amazon miss on online hit sentiment
- News on Kamani & US
- Speculation on slavery non wage @ factory again
A chance to load up @ great prices
Operating margins are about 7.1% .....in the far East .. a small jeans making factory can cut and make 700 pairs of jeans in a day ..and costs and wages of course relate to the low base local economy
Leicester "appears" to run/has been running on a "bubble" economy matching the Far East but allowing the workers to live in Leicester and have their standard of living topped up by the tax payer .....it is akin to taking foreign aid away from the Foreign Office and giving it instead as housing benefit and social benefits from the Pensions and Benefits Office instead
@Snoozinghippo: They have zero debt (Refinitive/Stockopedia). The real numbers are:
Gross Gearing: 3.9%
Net Gearing: -54.94%
Furthermore, Revenue, Operating Profit and Net Profit are all increasing exponentially... and the current cash on hand is £276m.
In summary: the balance sheet is ROCK solid.
Snoozing hipo - current liabilities is money owed to creditors to be paid within the 12 months.
This isn't debt like having to borrow money to run the business. This is totally different.
Boohoo have no debt in the sense that they have not borrowed any money to run the business.
Boohoo owners are filthy rich and could pump money into this at any moment . I Dnt see Jupiter reducing there holding which is positive.
They won’t be going bust anytime soon . It’s really a great opportunity to top up .
Ian it’s rehashing any connection or responsibility to BOO which as investors of BOO is the key relevant point. Quite frankly it’s out of order and they’ve made an unnecessary meal of it as have market makers once they saw punters started quivering on rumour rather than reading facts. Well for those of us with balls it presents a great top up opportunity so this won’t last forever.
IMHO DYOR GLA
Its not a rehash of old news. It outlines how devious factory bosses are getting around the scrutiny they came under for paying illegal low wages. By now Paying workers the minimum legal wage but then forcing them to return cash they are trying to avoid detection of paying illegal wages. It sounds about right. The plus side is there is no suggestion boo have any knowledge or part of this and I’m sure they do not. The factory owners argument is boo pay so little to buy their products they can’t afford to make them and pay staff the minimum wage as margins are too thin.
Double edged sword. Not been in here for sometime but will watch and see where the dust settles.
Kindness: Boohoo have debt (could be alittle out of date these figures now) :
Total assets
£775.9M
Total liabilities
£303.4M
Debt to assets
39.10%
Strong buy wait and see if it drops , I will never sell until the price is right they are not going bankrupt they have zero debt . Just panic which dose not last long.
Stay strong Dnt let this even test your resolve .
One question - is any of this going to have effect on sales? No - there’s the definer. They are out to make money and so are investors. The rest is noise and that’s what all of these fake over egged ‘scandal’ stories are. I guarantee the mob will try to take hold here to waiver resolve so they can squeeze a bit more but nothing they say will change the SP or sales revenue company coffers. Filter and ignore.
Back up a truck and Load up!
IMHO DYOR GLA
Market opened at 264.15 aware of this ‘story’ - it’s an over the top news hash with no negative spin to BOO indeed story says that staff were better off after BOO intervened and made sure they were paid the legal amount - this is an overreaction on an old news rehash end of. However it’s produced a fantastic top up opportunity or entry for lucky geezers.
IMHO DYOR GLA