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pedro61 - Boohoo have not got caught at anything. Boohoo have not done anything wrong. Their suppliers have done wrong and they're putting this right. Boohoo have provided £10m for their suppliers' workers to help them.

Read and research Boohoo to see what they've done and what they're doing to combat bad practices by suppliers. No other UK Retailer has ever done what Boohoo have done and are doing to combat bad practices by suppliers.

Boohoo should be congratulated and not condemned for their ongoing fight and determination to root out bad practices by suppliers.

pedro61 - it sounds to me like you haven't done any proper research into Boohoo.

May I suggest you click on Boohoo Live RNS above and read everything on, there, then you'll see what Boohoo are doing and have done to combat bad practices by suppliers.

Boohoo have done and are doing much more to combat bad practices by suppliers than any UK Retailer has ever done.

So we should all be backing and investing in Boohoo because of their determination to combat bad practices by suppliers. We should be congratulating Boohoo for being prepared to do so much against bad practices by suppliers. Boohoo have gone far beyond any UK retailer to combat bad practices by suppliers. Well done Boohoo.

Reppyr - may I suggest you click on Boo Live RNS above and read through everything on there including updates, results, etc., etc and then you'll see what Boohoo are actually doing and have done.

To those who condemn Boohoo. Could you please check the suppliers of everything you buy, use, investments, shares, before condemning Boohoo.

Do you buy Fairtrade food? If you don't, then you are probably buying food from manufacturers who exploit their suppliers who exploit their workforce.

Do you research where your bank invests their money, where you got your mortgage and where they invest their money?

Do you research your shares and their suppliers?

Do you research where your car was manufactured, where the parts came from to make your car, what the workers are paid, how they are treated?

Do you research where your clothes, shoes are made, the suppliers, how they treat their workers and how much they're paid?

I could go on and on.

Please don't pontificate until you put your own house in order.

Kallumama - still spouting the same old stuff. The only vanity is yourself because you don't do any reading and research on online retailers like Boohoo. Only comes on here to spout the same thing over and over again when the share price is down. Would be better off spending time reading and researching shares like Boohoo properly.

If there was a ban on Boohoo which is 99.999% unlikely. All Boohoo has to do is find approved suppliers in US or even start up their own manufacturing in US to get round a ban.

P/e for growth companies like Boohoo are based on future growth potential hence why they're high. Take a look at the p/e for Asos and other online retailers.

Research, research, research is the key to understanding shares and markets.

All shares are down today because of worldwide worries about inflation.

Looks like the doomers and gloomers are out in force today. Trying to get the share price down as far as possible, so they can buy back in. Too obvious.

It’s no laughing matter, but US is crying wolf over Boohoo import ban

Punishment for coming forward about a crime is one of the recurring themes in US law enforcement. It can play out as comedy, such as when drug dealers dial 911 to report the theft of their stash, and more often as tragedy, such as when immigrants seek police protection that results in their deportation.

It can also play out as farce.

Shares in Boohoo slipped on Tuesday following reports that the British clothing retailer could be blocked from importing goods in the US on allegations of using forced labour. What set the ball rolling was a complaint to the US Customs and Border Protection agency, CBP, from Liberty Shared, an anti-trafficking organisation. It cited the supply chain review Boohoo itself commissioned last year as part of a reputation rebuilding exercise.

Boohoo said it was “not aware” of any investigation and promised to work with any “competent authority” to prove its products and supply chain meet the required standards. The whole episode brings to mind another recurring theme of US law enforcement — that gun owners are much more likely to be shot with their own weapon than use it successfully in self defence.

Boohoo’s response listed recommendations already adopted from last year’s report, which criticised management’s failures of oversight and governance but found no evidence that the company itself had acted criminally. These findings have become a key part of the armoury the group deploys to counter negative publicity around working practices, which first caught the attention of consumers and institutional investors last summer having been ignored for at least two years.

Yet the risk of Boohoo being locked out of its fastest-growing market appears vanishingly small.

America has been taking a harder line on slave-produced goods since 2016, when Congress closed a loophole that allowed their import if demand exceeded domestic supply. One of the CBP’s first uses of its expanded remit was to seize Stevia powder, a natural sweetener, from London-listed ingredients maker PureCircle, then release the shipment seven months later after an independent audit supplied by the company showed no connection with Chinese labour camps. More recent actions have targeted the Xinjiang region in China, home to the oppressed Uighur Muslims.

Establishing origin is challenging when raw materials flit across borders and fabrication passes between subcontractors. Reading a report on the Leicester rag trade will be easier for investigators than tracking down the provenance of cobalt-powered electric car batteries and cotton used in football shirts.

But having belatedly faced up to its problems, Boohoo’s reparation efforts go far beyond those of most fashion retailers. If its promises are delivered, the failings detailed in last year’s report will be historic. US authorities ought to have something better to do than hoist a penitent company by its own petard.

boohoo notes recent media commentary. The Group has not received any correspondence from, nor is it aware of any investigation by, US Customs and Border Protection ("CBP"). The Group is confident in the actions it is taking to ensure that all of its products meet the CBP criteria on preventing the product of forced labour entering the US (or any of its markets). boohoo continues to fulfil orders to customers in the US across all of its brands. The Group will work with any competent authority to provide assurance that products from its supply chain meet the required standard.

Over the past 8 months the Group has been working closely with UK enforcement bodies. If the Group were to discover any suggestion of modern day slavery it would immediately disclose this to the relevant authorities. In addition, Alison Levitt QC's independent review (the "Independent Review") into boohoo's Leicester supply chain, published in September 2020, stated that "there is no evidence that the company itself or its officers have committed any criminal offences."

As a result of changes already under way since 2019, and those initiated through the Agenda for Change programme, which includes implementing the Independent Review's recommendations in full, the Group's supply chain in Leicester, and oversight of it, has been significantly improved and strengthened. The Group has made significant progress in a number of areas, including:

? Appointing Sir Brian Leveson PC to provide independent oversight of the Group's Agenda for Change programme

? Appointing Bureau Veritas and Verisio to support the ethical audits of suppliers and subcontractors, together with enquiry and enforcement specialists headed by former Deputy Commissioner of the Metropolitan Police Tim Godwin OBE to support Sir Brian's independent enquiries

? Continuing to map and audit the Group's tier one and tier two supply base, in the UK and internationally, led by teams from Bureau Veritas and Verisio

? The completion of over 400 on-site audits on UK suppliers

? Removing 64 suppliers from the Group's UK supplier list, who did not meet the Group's standards on the levels of transparency required

? Committing to publish UK tier one and tier two supplier list by end of March, and global supplier list by the end of September, which will both be updated every 6 months

? Significantly investing in strengthening the Group's internal Responsible Sourcing, Compliance and Sustainability teams

? Establishing a Supply Chain Compliance Committee reporting to the Board, led by the Group's Director of Responsible Sourcing

? Appointing KPMG as consultants to advise and monitor the implementation of the Agenda for Change programme

The Group and Sir Brian Leveson will continue to provide stakeholders with further updates on its Agenda for Change programme, including publication of its first Annual Sustainability Report alongside its 2021 Annual Report and Accounts.

Thanks surprised

https://twitter.com/surprised_trade/status/1366716716429029378/photo/1

https://uk.investing.com/equities/boohoo-technical

Investing.com website is the best place to check share prices for me.

Biglippy - these are late reported trades and not late trades after hours.

No-one knows if they were buys or sells because they don't know the times of the trades nor the bid and ask prices at the time of the trades.

surprised - is it possible to put a link to your witchcraft chart on here? It's difficult to read it on twitter. Many thanks

lhalliwell10 - worth reading the two petitions in full. Links to them are below.

Here is the link to the second petition by Duncan Jephson at Liberty Shared:-

https://files.libertyshared.org/s/UcIdnMLIhKIhrjBd/fo/secAtnTpBm5fDe6x/fi/RpGcnGjcWE4V852J

Here is the link to one of the two petitions by Duncan Jephson at Liberty Shared:-

https://files.libertyshared.org/s/UcIdnMLIhKIhrjBd/fo/secAtnTpBm5fDe6x/fi/0qRw5KdTYIaDeeVB

Here is a link to the petitions by Duncan Jephson at Liberty Shared which you can download and read for yourself:-

https://libertyshared.org/updates

From comments about Boohoo on the Small Cap Value Report which I thought were worth copying and putting here for all to read:-

"If you watched the Parliamentary appearance by Mahmud Kamani, founder & big boss at BOO, with his team, they've got chapter & verse on what's been done to fix the supply chain problems. They're taking it super-seriously, as was clear from the parliamentary hearing video. Hence a very strong case to defend themselves. I expect a few boxes of paperwork will be landing with the US authorities, detailing everything that's been done to sort this out."

"I can only find reference to US Border Control being 'asked' to look into Boohoo - not that they ARE. Big difference if that's true. This comes from a different report from sky that was published before them in the US.

Oh and if you look at the Liberty Shared website where this started from it's a bloody petition for christs sake quoting all the same old stuff that's been going around for months.

Not saying you can trust the US but this looks like old dinner reheated for a third time and I suspect will end up being thrown in the bin. "

"I agree, the whole crux of the news article and damning headline is centred on the below sentence:

'US Customs and Border Protection has seen enough evidence to launch an investigation after petitions from a campaigning British lawyer.'

It reads like it is directly taken from the US department but it could easily be a assumption by Liberty (the British lawyer) themselves e.g. they themselves feel the US has enough information to investigate. It doesn't mean that they will."

"Will they also be banning companies like hershey, Nestle and Mars that are currently being sued for using child slaves to produce cocoa"

"That's certainly a comprehensive RNS in response this morning, well done BooHoo."

"Boohoo (LON:BOO) . An absolutely spot on response. Yes we need to make sure that workers in Leicester are treated fairly. Killing Boohoo (LON:BOO) will only move clothes manufacturing to the Far East where wages and conditions are far worse and maybe deprive some of these workers of their livelihoods when Boohoo (LON:BOO) is already resolving these problems."

Paul Scott was a Finance Director for a UK fashion retailer before leaving to become a personal investor and write for the likes of the Small Cap Value Report for Stockopedia. Here is his take today on the Sky News Article. Paul Scott owns Boohoo shares.

The Leicester supply chain issue has cropped up yet again. In this story, Sky says that a campaigning lawyer in the UK has stirred up trouble in America by reporting BOO to the US Customs & Border Protection, saying;

US Customs and Border Protection has seen sufficient evidence to launch an investigation after petitions from a campaigning British lawyer.

Sky says that this could lead to the possibility of a US import ban. Clearly that's an unwelcome risk, but this issue has been so comprehensively dealt with by BOO already, that it's in a very strong position to defend itself.

We already know that the third-party suppliers in Leicester were found wanting, with previous investigations, and that BOO has taken extensive action (a lot more than green-washing) to fix the industry-wide problem.

Sky quotes the lawyer as saying;

"What we'd all like, those of us interested in improving labour conditions, is for Boohoo to really get to grips with governance of their supply chain to ensure there is no wage theft and people have proper contracts.

Is he not aware of the extensive action that has already been taken to address this issue? I don't understand why BOO is being treated as if this is a new issue, when it's an old issue that is already being addressed. Therefore, BOO should be able to demonstrate very clearly that it's on the case, and is dealing with it.

I've no idea how US authorities deal with this kind of thing, so we'll have to wait and see how it pans out.

As Sky points out, more than a fifth of sales come from the USA. NastyGal in particular is a US brand that BOO acquired and seems to be trading well.

I suspect this might accelerate the shift of BOO production from Leicester, to lower cost producers in the Far East, where everyone else gets their clothing manufactured, e.g. by people being paid 50p per hour in Bangladesh.

Leicester was used for speed to market, not low cost, because of course it's a high cost production area compared with Bangladesh, where apparently 4 million people are employed on far lower wages to make garments.

.Response to media commentary

BOO has now issued a statement, which I summarise as;

Not aware of any investigation, nor received any correspondence from US Customs & Border Protection.
Confident in actions being taken to improve supply chain
Continuing to fulfil orders to the USA
Will work with any authority
Alison Levitt QC's report stated that no evidence the company itself or its officers have committed any criminal offences
Summarises all the things it has done to improve the supply chain under its Agenda For Change programme.