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Shein: China fashion giant faces US calls for probe over Uyghur claims.
A group of US lawmakers has called for Chinese fast fashion brand Shein to be investigated over claims that Uyghur forced labour is used to make some of the clothes it sells.
The letter to the Wall Street watchdog comes amid expectations the firm may sell its shares in the US.
"We have zero tolerance for forced labour," Shein told the BBC.
The company also said that it currently has no plans for a listing on Wall Street.

full article
https://www.bbc.co.uk/news/business-65452976

Shein impacting, probably, taken the shine off brand, nope don't think so, they have struggled to deal with the inconsistencies since Covid (not the only ones!!) demand, costs, delays, up and down like a yo yo, covid, life comes to a standstill then massive demand that once again falls drastically due to war and the implications/knock on effects, so most of it unavoidable but someone, arguably previous incumbent is to blame for the ludicrous over stocking situation that's not helped but which i think has been there for some years, instead of turning the slow stock they just seem to have left it to build up, countless times i have heard the words in last few years that trade is great but no room in warehouse !!!! Arcadia were the masters of turning stock, management would go crazy if anyone called the DC a warehouse, stock was supposed to turn not be stored. Asos has become a big ship to turn but costs are being slashed and departments paired back. More than anything positive sentiment needs to return to UK Plc, of which anything really meaning full i think is still 8 to 12 months away.

Asos average line buys have gone from 1500pcs down to virtually half that, some depts running basic product have not placed any orders for 3 months in order to reduce inventory, currently trade is very tough, the bad spring weather has really not helped, many orders being moved to Bdesh to increase margins, this means far longer lead times, the buying measures and culling of staff that have been put in place are 100% correct for the current climate which is i would say is hitting the sector as a whole, we are in the eye of the storm, the good weather expected and coronation could help pull Q2 up but we really need great weather in Q3, going into Autumn inventory still very tight, we need to start hearing about green shoots and of course inflation to fall not just to instill confidence but for interest rates to come down because it's killing any growth in sector as public look to only buy essentials.

OP , as supplier im the ref came to all suppliers via email.

Old trick, Debs old guard, Arcadia (PG era) , Asos plus others all done it in past, always ranged from 2% to 2.5%.

Likes of Next, Primark never gone there, yet!!

This is an old one trick pony. They recently extended payment terms to all suppliers and now they are doing the old retro discount, this was mailed to all suppliers on 06/04, never a good sign, not sure of it's already been posted as i don't come on here much these days.
Dear Supplier,
With effect from 6 April 2023, Boohoo Group Plc will deduct 2% from all payments made to you, this is in addition to any existing settlement terms agreed.

Of course you could look at it as a smash and grab but with many suppliers in distress it's a fools gold in so many ways.

T4G tbh i switched off at
" need to sort their credibility out before any appreciable permament rises possible"

Jongle , i am sure all on here would be keen to hear any constructive positives or negative that are IYHO and how these have played out in your trades either positively or negatively. No one should criticise these but to see each person's strat and try and glean a better u/s of the way each one trades or makes decisions can be only a good thing for all concerned, everyone has different methods and opinions but end goal is same or at least should be.
I maybe wrong but from the little time i do spend on here these days i can only see a sea of negativity from you, like i say i maybe wrong and i'm pretty sure that this has all be said on here before by various parties so i maybe banging my head against a brick wall.

Jongle , DTN, i've lost track with you guys.

Are you holding, trading or looking to trade BH shares, historically none of the former applied but has that changed ?

Snippets below, full article here not sure it will open though, subscription.
https://www.just-style.com/news/shein-slammed-again-by-us-senators-over-possible-use-of-xinjiang-cotton/
Shein slammed again by US senators over ‘possible use’ of Xinjiang cotton
US Senator for Louisiana Bill Cassidy, including senators Elizabeth Warren and Sheldon Whitehouse, raised concerns over reports claiming Shein’s ties to cotton produced in the Xinjiang region. They have called on Shein to increase transparency in its supply chain.
Additionally, they accused the brand of pursing a strategy to price shipments under ‘de minimis’ value to minimise exposure to US Customs and Border Protection inspection to avoid scrutiny under Section 307 of the Tariff Act of 1930.
“We are concerned that American consumers may be inadvertently purchasing apparel made in-part with cotton grown, picked, and processed using forced labor,” said the senators.
“Considering Shein’s large, decentralised network of suppliers, we are concerned that cotton fibres harvested in Xinjiang with forced labour may have entered Shein’s supply chains,” continued the senators. “In response to these concerns, we would appreciate answers to our questions to assist us in better understanding Shei’s ties to supply chains in Xinjiang. We would appreciate a response within the next 30 days to assist in our oversight of Section 307 and Section 321 of the Tariff Act of 1930.”
In December 2021, US President Joe Biden signed a bill banning the import of all goods from the Xinjiang region of China, following claims of forced labour in the region. Later in 2022, the US’ Department of Labor (DoL) also banned imports from the country in its 10th edition of the forced and child labour list.

4 minutes to go, speaks volumes no one knows if it will rise or fall, likley to do opposite tomorrow of what it does today, many fashion shares are in a holding pattern pretty sure we all expect this until second half of this year, trade holding up better than most thought it would, who ever comes through next phase bruised but not battered will be sent fair for the coming bull market, Asos and BH i think are in pole position, i was expecting worse from both.

Shearclass shares are bought on fwd speculation not the here and now, hence why today this share is going somewhere

Whatever this share does today it will do the opposite tomorrow. LT its looking positive, they have significantly cut forward orders which are being felt on our factory floor, buying is far later, more considered and reactive with orders coming through 6 weeks later than normal, this us good, due to freight leadtimes this time last year they had no choice, overheads reducing yet they are pushing supply chain far far harder than they ever had. Im far far happier and confident as a supplier and shareholder than i was this time last year when despite decent trade i could see a whole ton of massive pitfalls, these have been identified and pretty much addressed giving a much more transparent outlook.

@dogger#trolling#thestreisandeffect

Dogger ur post 03/01 re Asos , are you ok fella.

IMO ASC are going under, finished, no more. I think we will look back shortly and say, "Remember that company Asos, inflation and cost of living crisis killed it. Didn't think they would go under to be honest".

T4g in gym posting between sets, made me laugh, good for you, go fella, keep up the good fight.

@Drapers#Bella Fish , just confirmed it.

Jobs at risk as Boohoo closes UK distribution centre
Boohoo Group is closing its 287,634 sq ft distribution centre on the Park Farm Industrial Estate in Wellingborough at the end of February, putting around 1,000 jobs at risk, Drapers can reveal.
The etailer set up the Greater Northamptonshire-based distribution centre in April last year to service its Boohoo, BoohooMan, MissPap, Karen Millen, Coast, Dorothy Perkins, Oasis, Burton, Wallis and Debenhams brands.
At the time, it said the opening would support the creation of up to 1,000 jobs in the first 12 months of operation.
It is not yet clear what the future will hold for the workers at the site. However, Drapers understands they are being offered the option of re-employment at the etailer's other three UK warehouses.
It is understood the reason for closure is for cost-saving purposes and a rationalisation of Boohoo Group's warehouse estate. Drapers has contacted Boohoo for comment.
Boohoo Group last year opened its fourth warehouse in Daventry, Northamptonshire – the same site as Arcadia Group’s old warehouse. Its other warehouses are located in Burnley and Sheffield, and it has partnered with DHL Supply Chain to help grow its business in the US with a new stateside warehouse.
The new 1.1 million sq ft distribution centre in Elizabethtown, Pennsylvania, southeast of Harrisburg, will open in early 2023.
Last month Drapers revealed that the fast fashion etailer had changed payment terms for suppliers from 30 days to 60 days, effective from 1 December. Meanwhile, manufacturers will be paid 30 days from the invoice date, up from 14 days currently.
In its latest trading update revenues dipped by 10% year on year to £882.4m in the six months to 31 August 2022. Adjusted EBITDA plummeted 58% to £35.5m during the same period. The etailer said this was the result of rising costs of freight and logistics, weaker than anticipated consumer demand and high cost inflation from the macro-economic environment.
Since 2017 the group has been targeting businesses that have collapsed into administration or are in financial distress. Boohoo Group sheds the businesses’ stores and takes them online only.
Last year, it bought Arcadia Group brands Burton, Wallis and Dorothy Perkins out of administration for £25.2m, and Debenhams out of administration for £55m. In 2020 it bought Warehouse and Oasis Group out of administration for £5.25m.

Not been on here for a while but rumours circulating about Wellingborough DC shutting, has anyone mentioned on here ? If true not sure why this would be ??

Hearing Next has bought with Tom J involved good news for those left

I ve had lots of experience with Myntra, devils massively in the detail.