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Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

London Stock Exchange
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Share Price: 8,774.00
Bid: 8,780.00
Ask: 8,784.00
Change: -70.00 (-0.79%)
Spread: 4.00 (0.046%)
Open: 8,784.00
High: 8,804.00
Low: 8,672.00
Prev. Close: 8,844.00
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UPDATE 1-Next, Zalando and Amazon drop Boohoo over worker rights allegations

Wed, 08th Jul 2020 00:02

(Adds details on Next, ASOS, Amazon)

BERLIN/LONDON, July 7 (Reuters) - Retailers Next Plc
, Zalando SE and Amazon.com Inc are
delisting products made by Britain's Boohoo Group Plc
following a media report about dire working conditions in an
English factory that supplied the popular brand.

Boohoo shares have slumped since the Sunday Times newspaper
said workers in a factory in Leicester, central England, making
clothes destined for Boohoo were being paid as little as 3.50
pounds ($4.38) an hour.

Boohoo said on Monday it will end relationships with any
supplier found to have breached its code of conduct.
It could not immediately be reached for comment on
Tuesday.

Next said it had already removed all Boohoo and Pretty
Little Thing branded items from all its websites last week in
response to a report from workers' rights group Labour Behind
the Label.

"Next concluded there is a case for Boohoo Group to answer,"
a spokesman said, adding it had started its own investigation
to check the items were sourced in a manner appropriate and
acceptable to the retailer.

Zalando said in a statement it would define specific actions
to address human rights issues identified in Boohoo's supply
chain and would discuss renewing a commercial relationship only
when Boohoo had taken corrective measures.

Amazon said it would pull Boohoo's products while the
company conducted its investigation.

"Selling partners are required to follow all applicable
laws, regulations, and Amazon policies when selling in our
store," a company representative said. "We will be suspending
the sale of the brands in question."

In addition, ASOS Plc has temporarily suspended its
trading relationship with all Boohoo brands until Boohoo has
completed an investigation and ASOS has received assurances
regarding supply chain practices, the Financial Times reported,
citing a person familiar with the matter.

(Reporting by Emma Thomasson in Berlin, Paul Sandle in London
and Sabahatjahan Contractor in Bengaluru
Editing by Matthew Lewis)

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