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It's week 3 of lockdown now and cases still rising, but yes hopefully a few more weeks and it will level.
We had the cinema open for 2 weeks here before it was reshut - rest of the country still open and packed from what I hear.
I'm a long term holder here and would agree with most of your points RS, certainly bullish for the long term.
However being based in Melbourne, Aus I can tell you the second wave is a thing here albeit the first wave was fairly insignificant.
I saw you also on the Boo train Jai :)
Having ridden this up from 54 to 100 and back down again, looking forward to this starting to make some ground headed into open.
The next announcement I'd like to see is those retailers that have dropped Boohoo coming back cap in hand following the baseless allegations. Does anyone have a % breakdown of sales these retailers provide for Boohoo?
The likelihood is they would wait until the findings of the QC review but can a company like NEXT afford to do that?
Any employer paying below the minimum wage in the UK is not acceptable, we are fortunate enough to live in a country that has one and in doing so aims to protect its people, their families, and our way of living. This is a privilege that we have living and working in the UK.
Many other countries around the world don't have this luxury, hence the reason cheap overseas labour has driven mature economies for centuries. The unfortunate reality is that the majority of the products we consume in the UK can be tied to underpaid and often exploited workers somewhere in the world. That is what we as a nation and a global community need to address.
Until we meaningfully do that business, enterprises and governments will take advantage. The point here is that from our position of privilege we shouldn't lambast Boohoo for a few unconfirmed reports of underpaid workers in our own country. If it is confirmed they should be addressed accordingly, punished accordingly and the company should move on (which they will). Our ability to do this lies in the fact we have the checks and balances to be able to monitor that via the privilege of a minimum wage brings.
I'm invested here, and one of the reasons why is that they support UK manufacturing and don't exploit a global supply chain to the extent of competitors. I'd actually like them to use this as an opportunity to double down on quality UK manufacturing and turn the weakness into a strength.
If you're dropping Boohoo on the grounds of recent news, make sure you review the rest of your portfolio and see how globally they treat workers - only you can make your own moral call, but don't have double standards just as this is happening in our own, privileged country.
I've never seen a business communicate that level of detail to the market upon initiation of legal proceedings, I wouldn't expect to see it here.
Agreed, given the Cineplex position they were always going to pursue legal proceedings to appease their shareholders and debtors. Unfortunately for plex, they really have no other choice.
If anything I think the strong statement of intent from Cineworld indicates a positive position to move forwards from this.
Been watching the FTSE futures go off a cliff over the last 4 hours from over here in Aus. Shame as CINE's good news from the weekend will likely get caught up in an overall drop, along with positive news about none essential retail opening up.
Good luck all.
Hi Jai,
Have you looked at ABF? Alongside CINE and BVS it's my core hold for gains in the next couple of months.
Let's hope for a great day today on Cine. Cinemas re-opening in Aus from end of this month and pre-bookings are going mad according to a couple of friends working close to it. Hopefully we the same across the CINE group.
Someone pass the popcorn for this morning session....
I think you’re right, but think there is further legs in it before the retrace, especially with the US markets set to fire. Preferring to set a high cheeky sell for open tomorrow with necessary safeguards.
Good luck all.
Following this from Aus - average entry at 51p, excited to see where this runs to prior to opening up through July. Has anyone heard anything RE the acquisition? Surely that has to come in the next couple of weeks.
p.s - No news on cinemas here currently, it's the same 3 step plan as UK.
Old link, unfortunately - potentially some more definitive news this week post PM's announcement.
@sam - good luck to you!
Moving up nicely.