Member Info for Peoplepower1

Of course it is illegal not to pay the minimum wage. The point is Boohoo have done nothing illegal. Boohoo stipulate in their contracts that workers must be paid the minimum wage. If contractors have subcontracted the work to suppliers who are not paying the minimum wage then the contractors have behaved illegally, the subcontractors have behaved illegally and Boohoo have not behaved illegally. Boohoo police all contractors and subcontractors and if they haven't been informed about a subcontractor then that was illegal by the contractor and not by Boohoo.

roomie - it is not Boohoo's fault. Legally the contractor must always tell Boohoo the name and details of all subcontractors.

Paulorufus - in the UK it is illegal for contractors to subcontract work out to others and not provide the name and details to the company that you're contracted to.

Uncle_Doug - well we now know what kind of human being you are - one who loves to stick the boot in. Another one to filter.

Wow, I didn't expect that drop. Stayed away from this board and everything to do with Boohoo today. I'm still holding and will be holding for 20 years plus.

The share price is a gift for anyone wanting to buy into Boohoo at this price. I still believe in Boohoo. Looks like Richard Watts of Merian sold all their Boohoo shares on Wednesday 1 July 2020 to Northern Trust Citibank. Check out the two RNS above. Richard Watts and Merian must have got wind of what was happening to sell out all their Boohoo shares on Wednesday 1 July 2020. No doubt, he'll buying back in again on the cheap.

Shadowfall, Simon Cawkwell aka evil knievil got what they wanted, unfortunately, as did all the sensationalists and scaremongerers so no doubt they're celebrating today. Good luck to all of them. It's not my way of making money and never will be.

We are grateful to the Sunday Times for highlighting the conditions at Jaswal Fashions, which, if they are as described by the undercover reporter, are totally unacceptable and fall woefully short of any standards acceptable in any workplace.

Our investigations have shown that Jaswal Fashions is not a declared supplier, and is no longer trading as a garment manufacturer. It therefore appears that a different company is using Jaswal’s former premises and we are currently trying to establish the identity of this company.

We are taking immediate action to thoroughly investigate how our garments were in their hands, and we will ensure that our suppliers immediately cease working with this company.

Thank you nomlungu, you are very kind and I needed that. It's hard work trying to fight short term greedy traders from panicking holders into selling to push the share price down, so they can make a lousy thousand or two out of them. All for a lousy thousand or two.

This week a number of serious allegations have been made about the treatment of people working in the garment industry in Leicester. As one of a number of retailers that source products in the area, boohoo wants to reiterate that it does not and will not condone any incidence of mistreatment of employees and of non-compliance with our strict supplier code of conduct.

Boohoo remains committed to supporting UK manufacturing and is determined to drive up standards where this is required. Where help and support for improvement is required we have and will continue to provide it, to ensure that everyone working to produce clothing in Leicester is properly remunerated, at least the National Minimum Wage, fairly treated and safe at work.

However, we will not hesitate to immediately terminate relationships with any supplier who is found not to be acting within both the letter and spirit of our supplier code of conduct. This includes very clear expectations on transparency about second tier suppliers.

We are grateful to the Sunday Times for highlighting the conditions at Jaswal Fashions, which, if they are as described by the undercover reporter, are totally unacceptable and fall woefully short of any standards acceptable in any workplace.

Our investigations have shown that Jaswal Fashions is not a declared supplier, and is no longer trading as a garment manufacturer. It therefore appears that a different company is using Jaswal’s former premises and we are currently trying to establish the identity of this company.

We are taking immediate action to thoroughly investigate how our garments were in their hands, and we will ensure that our suppliers immediately cease working with this company.

Our support for UK manufacturing is not driven by price; in fact, overseas pricing is much more
competitive. Our international distribution centre is located in the UK and having a local supply base enables shorter lead times and supports our agile business model.

In 2019, we retained the services of a third party compliance specialist to strengthen our compliance and auditing programme. Boohoo are keen and willing to work with local officials to raise standards because, we are absolutely committed to eradicating any instance of non-compliance and to ensuring that the actions of a few do not continue to undermine the excellent work of many of our suppliers in the area, who work tirelessly to provide good jobs and good working conditions.

I've done my best today to help people to learn to be better human beings by not trying to panic investors into selling so they can buy back their shares and make a few thousand. I've tried to show them how to make money by researching and holding great growth shares. There'll be more and more on here trying to get you to panic and sell. Don't panic and sell. Hold through every up and down because this is the way to make money with Boohoo. Hold for 20 years and more and you'll be rich. Always keep researching your shares. Don't buy too many that you don't have the time to research them. The key to making money is research, research, research and never let anyone panic you into selling. I've filtered everyone who is trying their best to panic investors into selling. I'm tired now and need a rest. My advice to everyone else is to filter them too.

That's the difference between you and me mornington-oz. I care about people and their investments. You don't. Learn to care about others and you'll be a happier person too. For me, it's not all about money. It's about helping others to make money and not lose money because people like you want to make a few thousand out of them.

Those on here who ridicule me have never made a million in their lives. Learn from me. Stop trading to make a few thousand and learn to buy and hold shares to make millions. I did it. So can you. Learn to be a better human being by not trying to panic investors into selling so you can buy their shares on the cheap, just to make a paltry thousand or two.

Loveapoundnote - you've no idea about market values. Do you? Amazon's market value today is nearly £1.5tr, yes trillion. The p/e is 140. The share price is £2,340. £100bn market valuation for Boohoo is peanuts compared to Amazon. Boohoo have nine brands, Boohoo, BoohooMan, Prettylittlething, Nasty Little Gal, MissPap, Karen Millen, Coast, Oasis and Warehouse. They have separate management and design teams for each brand. Boohoo bought Nast Gal for £20m and turned it into £100m revenue within two years. Boohoo are excellent at buying brands out of administration and turning them round very quickly. In 2014 Boohoo's revenue was £100m now it's £1.2bn. The founders of Boohoo, Mahmud Kamani and Carol Kane have been in the clothing industry together all their working lives. They sold to the likes of Topshop, Miss Selfrdige, etc., for years. Then saw an opportunity to do it for themselves online hence Boohoo. They are brilliant at what they do. They brought in John Lyttle from Primark to be CEO. John Lyttle grew Primark exponentially. He will do the same with boohoo. Buy Boohoo share and hold them for 20 years plus. Hold them through every up and down and you will make millions. All shares go up and down. No share goes up in a straight line. Stop trading shares to make a few thousand and buy Boohoo shares, hold for 20 years plus and make millions.

Loveapoundnote - you'll really try anything. I'm holding my boohoo shares for another 20 years plus. Downs don't bother me at all. What bothers me is people like you doing your best to panic people into selling their shares so you can buy them back on the cheap. You do this to make a few thousand when you could make millions if you would use your time better. You use your time scaremongering when you need to be using it to research great growth shares. Boohoo wants to be the biggest global ecommerce retailer for clothes and it'll achieve that. The global fashion market is worth £2,000bn. Yes £2,000bn. Boohoo's revenue ending on 29 February 2020 was £1.2bn. There's loads more out there for Boohoo. Boohoo has the expertise to become the Amazon for clothes. People who invest in Boohoo today will make millions too, if they hold them for 20 years plus. Stop trying to make a paltry thousand or two and start trying to make millions.

Being greedy is selling Boohoo and looking for another growth gem. Being greedy is selling and buying back. Being happy with my success is holding my Boohoo shares for another 20 years and more. Being happy with my success is showing people how I did it and that they can do it too. Being happy with my success is doing my best to prevent greedy charlatans trying to make money from people who may have just invested in Boohoo recently. Trying to get people to panic and sell their shares to get the share price down is so wrong because some of these people will be people who've bought boohoo shares recently and will lose money. No-one has the right to panic people into selling so they can buy their shares on the cheap.

Loveapoundnote- you've an awful lot to learn about investing in shares. I bought 360,000 boohoo shares in 2015 at around 27p. I've held them since 2015 through every up and down and I will be holding them for another 20 years plus. I'm not interested in short selling i.e. selling and buying back. The way to make millions is to research and find a growth gem like Boohoo and hold it forever. I've done it. You can do it too.

When they're trying this desperately to get you to panic and sell your Boohoo shares to get the share price down, then you know you have a great growth share that you must hold for 20 years plus through all the ups and downs. This is how to get rich by holding shares like Boohoo through every up and down. I know I've been doing it since 2015 and it's made me loads of money and will make me even more money in the future.

Loveapoundnote - you'll try anything. City folk? It is buyers and sellers who determine if a share price goes up or down. No-one else. Stop trying to get investors to panic and sell. Stop scaremongering. Stop being greedy.

Ignore the greedy charlatans with their sensationalist and scaremongering posts. They're trying desperately to get investors to panic and sell so they can buy your shares on the cheap. They don't care if you bought your shares recently and will lose money on them if you sell. There'll be more and more of them coming out of the woodwork. They're so obvious.

Loveapoundnote - your user name says it all. Joined here on 3 July 2020, yes two days ago, and has written about 50 posts since then on Boohoo to panic holders into selling so he can buy their shares back on the cheap. Check him out. Check out his posts. Tells you everything you need to know.

Loveapoundnote - and you know everything with how many posts on here.