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As with Staffline, any companies underpaying, will be asked to backpay workers and they will be fined. After that the company continues per usual.
Staffline underpaid workers supplied to a number of companies but did not underpay Boohoo warehouse workers
https://www.google.com/amp/s/www.thisismoney.co.uk/money/markets/article-8523459/amp/Now-Boohoo-supplier-says-underpaid-staff-10m.html
Same can be said for Nike (historically using sweatshops), Defence companies (weapons that kill), Oil companies (spills and fracking), Miners (slave labour and damaged environment and pollution, cigarette companies (cancer), marijuana companies (drug dealling), medical companies (inflated prices) etc. Although I disaprove over harm to environment and people and belive in fair pay, I release with investors money talks and ethics walk. At the end of the day theyre interested in profits.
Thats true. Only invest money your prepared to lose. But investments are based on previous performance and predicted growth. The history of Boohoo is positive and growth is forcast (perhaps at a lesser rate than previous). But based on comparisons with ASOS, and Nike etc. who have had their troubles with suppliers, the future looks positive. They have cashflow and finances look good.
First a big drop
Then yesterday 5%
Today 2%
So looks as if selling off's are about to end.
Basically those who wanted to sell have largely done so. Lets hope it swings round and people start buying. Fingers and toes crossed
Staffline underpaid workers supplied to a number of companies but did not underpay Boohoo warehouse workers
https://www.google.com/amp/s/www.thisismoney.co.uk/money/markets/article-8523459/amp/Now-Boohoo-supplier-says-underpaid-staff-10m.html
I recommend, as I have done in a previous post, that they buy a load of their own shares, to show confidence in their own company, at a time when the price is depressed. Doing so will automatically tempt other share holders to buy, knowing that owners have bought.
Oil companies - some big ones pollute oceans and fracking for oil poisons land and water supplies, cause earthquakes, yet people still buy shares if they know there's money to be made. Cigarettes cause cancer and yet no one cares. Defense companies make bombs and weapons etc etc. One or two Boohoo sub-contractors are found to be involved in malpractice and the share price plummets.
Short term there's always these ups and downs. Today its back up. Long term, we all know where its heading. If I said it would be down I'd be fooling myself. Given the media publicity and its recognition, can assume the name is more popular now than ever. If investors are OK buying arms shares and defense shares, then I'm guessing they're only interested in making money, so why wouldn't they buy into Boohoo. People still buy Nike and look at their history. Think investors give a crap about ethics, I don't think many do.
The answer to why this whole affair has eaten up 50% is fake news. That was compounded by a sell-off by a so called major investor. The never mentioned another major investor has increased there stake. The fake news was only focused on negative stuff, making things sound worse than they are. Manipulating media press a-holes. I'm guessing this was orchestrated to great a great buying opportunity. Other Fast fashion retailers where caught using same sub-contractors and nothing was said about them.
Standard Life The investor sold two-thirds of its stake, or 27m shares, following questions this week about why its "ethical" ASI fund owned stock in a fast-fashion brand. [THE QUESTION TO BE ASKED IS WHY DIDN'T STANDARD LIFE SELL ALL SHARES]... I answered this question in an earlier post.Boohoo’s second-largest investor Jupiter risked the wrath of activists by increasing its stake this week to 10pc, saying it had decided to take advantage of a weak share price.*****NOTE ****Investors who sell now will suffer a substantial paper loss compared to their position a week ago. Boohoo has long been a market darling and the shares were further boosted by lockdown, which effectively took bricks and mortar rivals such as Primark out of the game.SOURCE: https://www.telegraph.co.uk/business/2020/07/10/top-investor-dumps-boohoo-inadequate-response-sweatshop-claims/
[Company ] [Revenue (TTM)] [Net income (TTM)] [ Market cap ] [Employees]
AO World PLC 968.40m -12.20m 783.82m 3.12k
zooplus AG 1.45bn -8.19m 964.97m 713.00
Cnova NV 1.98bn -59.88m 1.03bn 2.00
Rocket Internet SE 60.80m 257.85m 2.45bn 404.00
Boohoo Group PLC 1.23bn 63.67m 2.90bn 2.62k
ASOS plc 3.02bn 44.70m 3.38bn 4.76k
Data as of Jul 14 2020. Currency figures normalised to Boohoo Group PLC's reporting currency: UK Pound GBX
Source: https://markets.ft.com/data/equities/tearsheet/profile?s=BOO:LSE
Company Revenue (TTM) Net income (TTM) Market cap Employees
Boohoo 1.23bn
AO World PLC 968.40m -12.20m 783.82m 3.12k
zooplus AG 1.45bn -8.19m 964.97m 713.00
Cnova NV 1.98bn -59.88m 1.03bn 2.00
Rocket Internet SE 60.80m 257.85m 2.45bn 404.00
Boohoo Group PLC 1.23bn 63.67m 2.90bn 2.62k
ASOS plc 3.02bn 44.70m 3.38bn 4.76k
Data as of Jul 14 2020. Currency figures normalised to Boohoo Group PLC's reporting currency: UK Pound GBX
See: https://markets.ft.com/data/equities/tearsheet/profile?s=BOO:LSE
Holder Shares % Held
Merian Global Investors (UK) Ltd.
AS OF 06 JUL 2020
127.45m 10.12%
Invesco Advisers, Inc.
AS OF 31 MAR 2020
81.55m 6.48%
Baillie Gifford & Co.
AS OF 02 APR 2020
53.23m 4.23%
Eleva Capital SAS
AS OF 02 APR 2020
35.17m 2.79%
Fidelity Management & Research Co. LLC
AS OF 31 MAY 2020
31.13m 2.47%
Eleva Capital LLP
AS OF 31 DEC 2019
28.24m 2.24%
Standard Life Investments Ltd.
AS OF 31 MAR 2020
19.20m 1.53%
Franklin Templeton Institutional LLC
AS OF 31 MAY 2020
17.41m 1.38%
DWS Investment GmbH
AS OF 29 MAY 2020
11.28m 0.90%
BlackRock Fund Advisors
AS OF 09 JUL 2020
9.18m 0.73%
Data from 31 Dec 2019 - 30 Jun 2020
Asos axes UK suppliers over ethics worries
The Telegraph
Laura Onita
The Telegraph 14 July 2020
https://uk.finance.yahoo.com/news/asos-axes-almost-quarter-uk-194107691.html
Asos axes UK suppliers over ethics worries
The Telegraph
Laura Onita
The Telegraph14 July 2020
https://uk.finance.yahoo.com/news/asos-axes-almost-quarter-uk-194107691.html
This is dated
Asos axes UK suppliers over ethics worries
The Telegraph
Laura Onita
The Telegraph14 July 2020
https://uk.finance.yahoo.com/news/asos-axes-almost-quarter-uk-194107691.html