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Boohoo's reputation has not been damaged by allegations relating to its working practices, analysts have said.
BY CAROLINE WADHAM
16 MARCH 2021
https://www.drapersonline.com/news/boohoo-unaffected-by-negative-publicity
In response to the report, Boohoo took the decision to stop doing business with 64 suppliers and factories in the UK by December 2020. Contracts were ended because suppliers failed to adhere to Boohoo Group’s code of conduct, and were not sufficiently transparent.
In conversation with Drapers acting editor Jill Geoghegan, Reaney said the group has since ended contracts with "several more".
https://www.drapersonline.com/news/boohoo-group-cuts-more-uk-suppliers?tkn=1
https://wwd.com/business-news/business-features/remastering-retail-now-1234713772/
[source: https://www.reuters.com/article/uk-slavery/chronology-who-banned-slavery-when-idUSL1561464920070322]
Britain banned slaver 200 years ago. we have laws in place and a number of organisations that crack down on slavery. If there was slavery by Boohoo then owners would be in jail by now. So my conclusion of the non-sense in the media is that it would be illogical to say slavery at Boohoo when all the investigations proved Boohoo had not done anything illegal.
Also all investigations and review by Allison Levitt confirmed this.
“Alison Levitt QC is valued for her experience in international fraud, bribery and corruption cases and for her expertise in private prosecutions.” – Chambers UK 2019
[Source: https://www.2harecourt.com/barristers/alison-levitt-qc/]
Surely the word of an accomplished criminal prosecutions lawyer (with the knowledge and understanding of the laws) knows what is legal and illegal and what amounts to slavery.
For these reasons I think all the stuff in the news about US ban doesn't make sense to me and doubt there is a strong case. Definition of slavery in UK is the same as in the USA and so if they have not been found to have broken any laws here, there where is the justification.
Share please and please do your own research. The media is full of fake news and sometimes they just want a scandal that sells papers and gives them something to report on.
Some common sense suggests its the shorters and their cronies at it again.
We all know that in UK the company was investigated thoroughly by a number of aithorities and yet at thr end of it all Boohoo was found to be not guity.
https://homeofdirectcommerce.com/boohoo-secures-arcadia-brands/
https://www.kentonline.co.uk/medway/news/jobs-lossses-in-medway-towns-as-stores-close-242152/
Buffaloben - total agree with you. This lock down will end sooner than later. But there's going to be a cultural change, more people will be shopping online than ever, now they've had a taste of it.
I don't really know how the Christmas shopping is going to play out, but I have read some articles online and they say shopping online will continue till Christmas.
The main advantage of owning Boohoo is that its a major growth stock. See earlier post.
Also, would like to add the Christmas buying period starts in October. I used to work at Boots customer care and they start recruiting extras for Boots.com early and they get real busy over November and into February (backlogs are cleared). I think we should see a rise from now on. It was stated in the report that they had not done anything illegal (regards the supplier employee pay scandal). I posted it in one of the comments before, so if you click my username you might be able to find it in there. I did a lot of research and digging when the scandal broke.
In response to "I doubt we will see £4.33 this side of January though". I'd like to stay on the confident side, the added buying (RNS statements) over the past few months is a sign of confidence in the share. You never know with shares, with Christmas round the corner, could see a buying frenzy coming up. People know over Christmas buying is strong, and some of the news reports I've read say there will be a lot of online buying for Christmas. Good luck all, hope it continues upward.
https://uk.sports.yahoo.com/news/two-monster-growth-stocks-d-072918347.html
Does this mean there has been a purchase of shares?
https://uk.advfn.com/stock-market/london/boohoo-BOO/share-news/boohoo-group-plc-NOTIFICATION-OF-MAJOR-HOLDINGS/83648809
RE: Alison Levitt QC Report (FULL REPORT LINK)22 Oct 2020 14:01
In particular and most importantly:
[C] To consider the boohoo Group’s compliance with the relevant law
31. There is no evidence that Boohoo has committed any criminal offences.