Member Info for Peoplepower1

Boohoo have come back with an extremely robust response to the totally sensationalist report. Read the response in full in my posts below.

Boohoo's revenue went from £100m in 2014 to £1.2bn for year ending 29 February 2020. Boohoo Group have 9 brands now and will buy more brands out of administration. Boohoo bought Nasty Gal, a USA brand, for £20m and turned it into £100m revenue within 2 years.

Boohoo have a great team, Mahmud Kamani has been in the clothes industry all his working life, the same for Carol Kane who was also the clothes designer. Mahmud Kamani and Carol Kane have worked together for years and years; long before the startup of Boohoo. John Lyttle has global experience of running and growing Primark. Neil Catto, Finance Director has done a great job with Boohoo. Umar Kamani has grown Prettylittlething to nearly £600m revenue in 5 years.

Each of the 9 brands have their own management and design teams. Loads has been learnt by Mahmud Kamani and Carol Kane not only in the 6 years from listing Boohoo but all the years prior to the start of Boohoo. Each brand uses the Boohoo Group tried and tested method to see what sells or not. Each brand uses social media to its best. Each brand uses celebrity endorsements, vloggers, tv, ads, i.e. whatever is needed to grow the brand effectively.

The Boohoo Group makes more profit than ASOS because the Boohoo Group designs the clothes for each of the 9 brands and has them manufactured. ASOS sells clothes on behalf of others so their profits are much less than the Boohoo Group. ASOS have made mistakes, like opening a warehouse in the USA which failed for them. The Boohoo Group are very careful and prudent at what they do.

Boohoo can and will achieve their goal of becoming the biggest online global retailer for clothes. Boohoo will become the Amazon for clothes.

Buy Boohoo shares and tuck them away in an ISA, Sipp for at least 10 years, if possible, 20 years and more. Then sit back and watch them grow. There will be ups and downs. No shares go up in a straight line. Hold the shares through every up and down and they will come back higher and stronger.

ZZtp - Suggest if you want to get into Boohoo you get in now before you miss out on a great growth share. The negative news is total sensationalism. The High St opening up won't affect Boohoo. Read my previous posts on Boohoo then you'll understand. Research is the key to making money on shares. Trading shares like Boohoo might make you thousands. Holding shares like Boohoo makes you a million.

Response to Labour Behind the Label Report from Boohoo - continued ....

In addition to our on- going in-house audit programme, we have invested heavily in a bespoke third party led compliance programme with compliance specialists who audit all suppliers on both an announced and unannounced basis. Our UK compliance programme requires all suppliers to disclose their sub- contractors, so that they are included in our audit programme, something, which is verified by our third party auditors, so any suggestions of unauthorised subcontracting, is again not true. The vast majority of our top 40 suppliers also received a Sedex audit in the 18 months prior to the onset of Covid-19. We do not of course; claim that everything is perfect all of the time, what business could and this is the purpose of our UK compliance programme, to support suppliers to continually drive up standards and support UK manufacturing.

• Last year we introduced industry leading 14-day payment terms for all UK manufacturers to ensure that they have reliable and constant cash flow so that they can act responsibly towards their people and their suppliers. We know from speaking with suppliers direct how important this has been, particularly during the recent period where many retailers have cancelled orders without full payment.

• As a business, we have invested heavily to ensure that we meet and exceed the guidance relating to self-isolation, social distancing and hygiene standards to ensure that every boohoo workplace is as risk free as possible. We therefore do not condone any supplier that disregards the very clear guidance on dealing with those affected by Covid-19 and we will immediately look into the claims made in this report, together with our third party compliance partner.

The boohoo business model is highly efficient, meaning we keep unnecessary overheads to a minimum. We do not have an expensive bricks and mortar retail estate, we do not rely on costly TV advertising, instead we use social media to connect with our customers. Whilst other retailers may have to order hundreds of thousands of a garment to fill their retail sites, we may only order 10’s or 100’s. We test how it sells and if our customers like it we re-order, therefore unlike many traditional retailers we do not have to carry thousands of pounds stock, which may or may not sell, which is great for us and great for our suppliers, less unused stock, less waste and more economically viable.

All of this means that we are able to invest in the areas that really matter: our people, our designs, our customer service and our suppliers and is why we are able to offer products at competitive prices.

Response to Labour Behind the Label report from Boohoo

The boohoo group categorically does not tolerate any incidence of non-compliance especially in relation to the treatment of workers within our supply chain and we have terminated relationships with suppliers where evidence of non-compliance with our strict code of conduct is found. It may surprise people to know that we applaud any examination of practices in supply chains, because we share similar aims: that everyone employed is fairly treated and properly remunerated for the work that they do. However, for any work of this nature to have credibility and to be of value it needs to be accurate and factually correct, which the Labour Behind the Label report unfortunately, is not.

• Since the onset of the coronavirus, we have significantly changed how we operate our business to ensure that we have closely followed and adhered to all aspects of the guidance provided by the UK Government to keep everyone in our business safe and well. At no point has this guidance required any on-line business or factory to close. It is therefore wrong to suggest that we were flouting the rules by continuing to trade before the 22nd April 2020.

• During the first few weeks of lockdown, where guidance meant that we were unable to complete on- site compliance visits, our buyers, in-house compliance team, senior team and CEO were in constant contact with our suppliers. This included using video and audio calls and constant reiteration of our expectations on social distancing and hygiene measures. Additionally we made available sufficient amounts of PPE and hygiene products free of charge to any supplier that needed them to ensure that these were available for their teams, so there is no reason that these would not be available. As soon as lockdown restrictions were eased, our compliance team and third party compliance specialists immediately resumed on-site auditing.

• Boohoo does source some of its products from the UK but this is around 40%, a fact that we have shared with Labour Behind the Label, so we do not understand why this report states that this is 60- 70% this is simply not true. Without accurate information on every retailer’s orders across the range of suppliers in Leicester we would not be able to estimate the % of volume that our business accounts for, a suggestion that this is around 80% can therefore be no more than guess work.

• We do not have an exclusive relationship with any supplier in our supply chain and to suggest that we do because our auditing process is less of a burden is not true. We are committed to supporting UK manufacturing, which makes a considerable contribution to the UK economy and has many environmental benefits, but we do not do this at the expense of standards.

Found this bit too in Tradingdutchman's link.

Just as important as the harvesting of the energy is its management. Some energy sources, like RF, temperature difference, and vibration, are relatively constant, if low in power, while others, like solar, are intermittent. When a field device wakes up, its energy demand spikes. All this makes good power-management electronics essential as well as either a battery or capacitor for energy storage. Semiconductor maker e-peas semiconductors sells low power consumption microcontrollers and energy harvesting PMICs (power management integrated circuits).

There'll be loads and loads on here now and over the weekend trying their best to get you to panic and sell your shares. Don't let them win. They're greedy and you deserve better than that.

This is pure sensationalism reporting and posters on here jumping on the bandwagon to get the Boohoo share price down so they can buy your shares on the cheap. That's just greed on their part. Pure sensationalism and pure greed. Don't give in to either of them. The only way a share price goes down is if holders panic and sell. So, never panic and sell.

Negativity has 5 times more effect on people than positivity, hence, why you have to do your best never to panic and sell. If you give in to the negativity then you're allowing the sensationalism and greed to control you. Don't ever do that. Never panic and sell.

I’ve read the report in full by Labour behind the label. Talk about sensationalism, it’s totally over the top. There is no evidence whatsoever that it’s Boohoo's suppliers in the report. The report seeks to damage Boohoo, just like the Shadowfall report. It makes me wonder who’s behind the report. We all know Shadowfall and Simon Cawkwell aka evil knievil have shorts on Boohoo. And they use sensationlism to get it into the media to get the Boohoo share price down so they panic investors into selling and make millions out of them. They are greedy charlatans. Don’t let them do that to you.

Reading the report there are a few and I mean a few who may be breaching rules, there is no evidence in the report whatsoever to link them to Boohoo or Prettylittlething.

Boohoo said none of its suppliers had been affected and said it was “working with our third-party compliance partner to further investigate the claims raised and are working with suppliers to ensure compliance”.

Boohoo appointed a Director of Sustainability and Social Responsibility in 2019. Boohoo take their duties very seriously. Boohoo have no dresses at £5 except for a very few in sales. This is pure sensationalism to panic investors into selling..

Boohoo has said “production deadlines have been more flexible” as a result of the crisis and they have been agreed on a “case by case basis”. It said it monitored sites remotely via video and audio calls, and provided personal protective equipment and hygiene products free of charge.

Boohoo said: “In addition to our ongoing in-house audit programme, we have invested heavily in a bespoke third-party-led compliance programme with compliance specialists who audit all suppliers on both an announced and unannounced basis.”

This is pure sensationalism designed to spook investors so they panic and sell their Boohoo shares. Don't let them win. Ignore this sensationalist reporting by holding your Boohoo shares. Show them you won't be used by sensationalist reports.

Boohoo appointed a Director of Sustainability and Social Responsibility in 2019.

In its 2020 Annual Report Boohoo stated that in 2021 all UK manufacturers (Tiers 1 and 2) should participate in compliance programmes; at least 75% of global supply chain should receive third-party audits; and that there would be a disclosure of core manufacturers in the global supply chain.

Reports from Germany are positive for retail spending, which beat forecasts apparently. That will have read-across for other consumer-driven economies like the UK.

American markets have also been strong, possibly propelled by encouraging news from Pfizer about a successful vaccine trial .

For now anyway, all the above seem to be outweighing the rising clusters of cases in the USA. It is starting to feel as if we may be beginning to control this thing. That's certainly what US markets are pricing-in. US markets seem to be looking beyond covid.

Recent comments from the respected Andy Haldane, from the Bank of England, made surprisingly bullish comments this week about a V-shaped recovery. He's got all the numbers to hand, so knows what he's talking about.

furry65 - you've been invested in Boohoo at 54p since March 2014, six years, well done you. Be happy with your success. There are loads who would love to be in your shoes.

furry65 - you can never rely on what happened in the past happening again. Hindsight is always a wonderful thing. Reality is much different.

I've also seen on here holders who panicked, sold and have become really bitter about it. So bitter that they've stayed on this board to continually distress holders with their negative posts on Boohoo. My advice to them is to try to see the distress they're causing to holders and to do their best to try to stop themselves. People have enough on their plates with the anxiety of the pandemic so please try if you can to not to add to their burdens.

Some people love to try to bring down success, that says more about their psychological health and their need to see success fail. My advice is to filter them if they continue to distress you. Click on the filter above, type in the user name, make sure you get it right and press enter. Never be tempted to unfilter them. Never allow anyone to distress you. You're worth more than that.

Please be aware that negativity affect us all five times more than positivity. So, negativity will make you panic, always do your best not to act on that panic and then you won't make mistakes.

Boohoo has been a great growth share and will continue to be so. I've seen too many on here panic, sell and live to regret it. Don't become one of them.

Use the filter above to get rid of posters who distress you in any way. All they're doing is trying to make you panic so you sell your shares at a loss and then they buy your shares to make money out of you. It is simply greed on their part.

Boohoo said in a statement that it had “fundamentally changed the way that we operate” since coronavirus and that “every decision we have made has had the safety and wellbeing of our people at heart”. It said it was confident that those in its supply chain were operating safely and that it provided free PPE and sanitiser as well as remaining in close contact.

Emphasising its strict code of conduct, it said: “None of our suppliers have been affected at this time and we are pleased that our in-house compliance team have been able to resume their work. Our third-party auditors are also out visiting sites this week.”

The rest is simply noise and scaremongering to get the Boohoo share price down. When posters are trying this hard to get the share price down then you know Boohoo is a great share to hold.

Don't let anyone or anything panic you into selling your Boohoo shares.

Boohoo's revenue went from £100m in 2014 to £1.2bn for year ending 29 February 2020. Boohoo Group have 9 brands now and will buy more brands out of administration. Boohoo bought Nasty Gal, a USA brand, for £20m and turned it into £100m revenue within 2 years.

Boohoo have a great team, Mahmud Kamani has been in the clothes industry all his working life, the same for Carol Kane who was also the clothes designer. Mahmud Kamani and Carol Kane have worked together for years and years; long before the startup of Boohoo. John Lyttle has global experience of running and growing Primark. Neil Catto, Finance Director has done a great job with Boohoo. Umar Kamani has grown Prettylittlething to nearly £600m revenue in 5 years.

Each of the 9 brands have their own management and design teams. Loads has been learnt by Mahmud Kamani and Carol Kane not only in the 6 years from listing Boohoo but all the years prior to the start of Boohoo. Each brand uses the Boohoo Group tried and tested method to see what sells or not. Each brand uses social media to its best. Each brand uses celebrity endorsements, vloggers, tv, ads, i.e. whatever is needed to grow the brand effectively.

The Boohoo Group makes more profit than ASOS because the Boohoo Group designs the clothes for each of the 9 brands and has them manufactured. ASOS sells clothes on behalf of others so their profits are much less than the Boohoo Group. ASOS have made mistakes, like opening a warehouse in the USA which failed for them. The Boohoo Group are very careful and prudent at what they do.

Boohoo can and will achieve their goal of becoming the biggest online global retailer for clothes. Boohoo will become the Amazon for clothes.

Buy Boohoo shares and tuck them away in an ISA, Sipp for at least 10 years, if possible, 20 years and more. Then sit back and watch them grow. There will be ups and downs. No shares go up in a straight line. Hold the shares through every up and down and they will come back higher and stronger.

Ooops that should read Zacks and not Zachs.

Zachs have upped Boohoo to strong buy.

SOLIDpower is an international group of companies, leader in the field of SOFC (Solid Oxide Fuel Cell) technologies and manufacturer of BlueGEN, the world’s most efficient micro-CHP (combined heat and power) appliance. Founded at the end of 2006 in Italy, it has rapidly developed into today’s corporation with branches also in Germany, Switzerland and Australia after the important acquisitions of HTceramix SA and Ceramic Fuel Cells GmbH in 2007 and 2015. SOLIDpower is a continuously growing team of currently more than 150 people and operates two manufacturing plants for the production of m-CHP systems and fuel cell stacks and a highly-qualified R&D department focusing on product-improvements and new applications for the technology. In this regard, the team has already developed and tested a 10 kW system for application in data centers and takes part in different projects for the development of new commercial solutions based on SOFC technology, such as the production of hydrogen and electricity for hydrogen refueling stations.

SOLIDpower’s primary aim is to bring fuel cell m-CHPs and other solutions to the mass market and is increasingly investing in the scaling-up of the production capacity and further technical improvement of their technology platform in order to guarantee a continuous cost reduction and be able to offer ready-commercial products at competitive prices.

With more than 750 units already installed and the development of state-of-the-art fuel cell solutions, SOLIDpower commits to contributing in first line to the energy transition of Europe.