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BooHoo


spygirl

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17 minutes ago, spygirl said:

PwC to quit as auditor to Boohoo on reputation concerns

Break with controversial client follows similar Deloitte move at EG

https://www.ft.com/content/93a5926b-792f-4e20-91a6-4eb3afb66e9c

 

What do BooHoo n EG have in common?

some sort of religion i wouldnt wonder.

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  • 3 weeks later...

So according to this article there is no such thing as bad news..

Papers report BooHoo Cloths made by slaves, sales go up!

Directors knew about low wages and bad working conditions, No crimes committed!

At this point i think the human race is done. The rich can do whatever they like..

Probably the MPs see nothing wrong with using the poor as cattle.. cant see what all the fuss is about, they paid them a couple of quid FFS

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  • 2 months later...

Thisll be fun..

https://www.bbc.co.uk/news/business-55974075

Online fashion firm Boohoo has told its Leicester-based suppliers that they must bring all clothes-making work in-house, either buying out or cutting ties with sub-contractors.

The demand has caused concern among some suppliers about how they will pay to hire new workers and rent space.

Boohoo has given them a deadline of 5 March to stop using outside labour.

The company says it is acting on recommendations of a highly critical report published last year.

Boohoo hired barrister Alison Levitt QC to investigate following concerns about worker welfare during the pandemic.

The report, published in September, said Boohoo had "capitalised on the commercial opportunities offered by lockdown" but took no responsibility for the consequences for those making the clothes they sold.

It recommended that "within six months Boohoo should reduce its approved suppliers to a list which contains a manageable number of companies, ideally without reducing capacity" with "the goal of reducing and ultimately eliminating sub-contracting."

Surely BooHoo should be doing the work inhouse instead???

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stop_the_craziness
6 hours ago, spygirl said:

It recommended that "within six months Boohoo should reduce its approved suppliers to a list which contains a manageable number of companies, ideally without reducing capacity" with "the goal of reducing and ultimately eliminating sub-contracting."

There's many, many years of wriggle-room, pretending to improve things in that statement.  No mandatory actions and no deadline for completion of those actions.  Just a lot of should and aim to and reduce and maybe at some time in the future possibly try to do the right thing.

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  • 2 months later...
  • 1 year later...
2 hours ago, spygirl said:

Ft article on jiggling the directors bonus plan.

Share price was 300-400 for most of this threads time.

82p today.

@spygirl, as a casual observer I appreciate you follow the financial markets quite closely. What's the implication of this do you think? (Jta. I think you've done this on ToS a while ago?). Absolutely not poop ping your input, for goodness sake I would have loved to have make some more pertinent financial decisions over the last 20-years)🙏

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8 hours ago, Herby said:

@spygirl, as a casual observer I appreciate you follow the financial markets quite closely. What's the implication of this do you think? (Jta. I think you've done this on ToS a while ago?). Absolutely not poop ping your input, for goodness sake I would have loved to have make some more pertinent financial decisions over the last 20-years)🙏

Share price reflects expected future earnings (profits).

A drop of 75% says future earnings don't look anything like they did 2 years ago (hence the 75% drop in share price).

For Boohoo the issue is that reality has been revealed and Boohoo can't create clothes at the prices they used to (and worse Shein has appeared from China who sell stuff at insanely low prices) 

For our other favourite THG - their magic was in a software bundle that a lot of far bigger (and better) firms are entering the market of.

And THG isn't the go to option when you can choice Next or WPP...

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  • 3 months later...
On 28/05/2020 at 13:03, spygirl said:

Im only slightly aware of this. Its AIM, so dont tend to invest or take much interest

Had a look since the yesterday short

https://www.shadowfall.com/wp-content/uploads/2019/01/BOOHOO_ShadowFall_Research.pdf

 

Blingtastic

https://www.manchestereveningnews.co.uk/business/business-news/boohoo-adam-kamani-profile-manchester-14617736

 

And buying his kids company today.....

Billionaire playboy Pretty Little Thing founder who took taxpayers' cash to furlough 86 staff sells his stake in the online fashion giant to his father's firm Boohoo for up to £324million

https://www.dailymail.co.uk/news/article-8364893/Pretty-Little-Thing-founder-sells-stake-fathers-firm-Boohoo-324million.html

Jesus. A rag trade company with 86 employees bought for 324m ....

 

SP peaked at 413p shortly after I posted this.

Just over 2 years later ... 42p.

Turd.

 

 

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HousePriceMania
4 hours ago, spygirl said:

SP peaked at 413p shortly after I posted this.

Just over 2 years later ... 42p.

Turd.

 

 

.....4 hours later......


You mean 40p :D

 

Boohoo Group PLC
40.30
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Targeting younger generation but 30% returns is speculated. So we’re the customers gaming them ? I did hear some anecdotal stories of people doing this basically getting some clothes wear it for a weekend then send it back. Anyway I think they brought in return charges. I guess actually fast fashion could ultimately ends up at this point (before I guess in future some kind of programmable or downloaded clothing type thing).

 

Sadly I see a few clothing companies are going down trials of subscription services for clothes! Sad when people don’t even own their own shirts…

 

 

Edited by Ash4781b
J
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  • 8 months later...

I need to put the days sahre price on these sorts of possts.

~3y later ...

Boohoo seeks to reassure investors after slumping to loss

Online fashion retailer expects to return to profit after cutting costs and reducing inventory

https://www.ft.com/content/f3f21660-d672-4e7b-bd5b-a0f07ec150cc

Market cap - 

Mkt cap - 520.69M

And to think he boguth his sons compnay for ~320m 3 y ago ...

 

41p

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2 hours ago, spygirl said:

I need to put the days sahre price on these sorts of possts.

~3y later ...

Boohoo seeks to reassure investors after slumping to loss

Online fashion retailer expects to return to profit after cutting costs and reducing inventory

https://www.ft.com/content/f3f21660-d672-4e7b-bd5b-a0f07ec150cc

Market cap - 

Mkt cap - 520.69M

And to think he boguth his sons compnay for ~320m 3 y ago ...

 

41p

Bit of a car crash. What I heard is people get the stuff wear it once and then return it for a refund 😂 . Still I understand they tried to combat that and sales falling.

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On 08/07/2020 at 11:31, spunko said:

Just to add, the other thing about this: it shoots down this idiotic widespread fallacy that Indians respect their elders. I always suspected it was bollocks. Nothing says "respect" like getting a load of Indian pensioners to work illegally for 18 hours a day for £2.50 an hour sewing clothes destined to be worn once by some chav.

 

On 08/07/2020 at 12:26, spygirl said:

Ah yes, that old chestnut.

Ive been to India a few times for work.

never again.

Im not sure when I as disabused of that. Cant remember if it was the first or second  time I saw a bloke in a car mow down an old lower caste beggar.

Indians respect old, richer family/caste members.

Mainly Indians respect money.

 

OK, found my quote.

Iirc Boohoo blokes mirpuri.

Dementia-stricken billionaire patriarch of Britain's richest dynasty the Hindujas dies in London aged 87: Daughters pay tribute to 'visionary titan of industry' who created £28BN business empire with his brother

https://www.dailymail.co.uk/news/article-12095053/Dementia-stricken-billionaire-patriarch-Britains-richest-family-Hinduja-brothers-dies.html

https://www.dailymail.co.uk/news/article-11416945/Bitter-rift-Britains-richest-family-Hinduja-brothers-laid-bare.html

The family rift was exposed today when a senior judge revealed he wanted to put billionaire Srichand Parmanand Hinduja, 86, in a public nursing home because his care needs had been 'marginalised'. 

Very Much Weekend at Bernies feel.

Sub content also, if whatever prayer group are cunts.

And they become bigger cunts as they get richer.

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  • 3 weeks later...
  • 3 months later...
On 17/05/2022 at 20:39, spygirl said:

Ft article on jiggling the directors bonus plan.

Share price was 300-400 for most of this threads time.

82p today.

30p

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  • 4 weeks later...

https://www.dailymail.co.uk/news/article-12675867/Boohoo-100m-lawsuit-modern-slavery-Leicester-workshops-staff-poor-conditions.html

Boohoo is facing a £100million lawsuit after an investigation exposed allegations of modern slavery in Leicester workshops which wiped more than £1 billion off its value.

The lawsuit, brought by sovereign wealth funds, local councils and other investors, follows the revelations in 2020 that staff were working in awful conditions and being paid just £4 per hour.

City lawyers are now demanding compensation for shareholders in Boohoo, who suffered financial losses after the scale of the scandal became known.

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6 minutes ago, spygirl said:

https://www.dailymail.co.uk/news/article-12675867/Boohoo-100m-lawsuit-modern-slavery-Leicester-workshops-staff-poor-conditions.html

Boohoo is facing a £100million lawsuit after an investigation exposed allegations of modern slavery in Leicester workshops which wiped more than £1 billion off its value.

The lawsuit, brought by sovereign wealth funds, local councils and other investors, follows the revelations in 2020 that staff were working in awful conditions and being paid just £4 per hour.

City lawyers are now demanding compensation for shareholders in Boohoo, who suffered financial losses after the scale of the scandal became known.

All no doubt on benifits and Pakistani women who speak no English massive can of worms this lol

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  • 2 weeks later...

Fast fashion: Boohoo breaks promises on ethical overhaul

https://www.bbc.co.uk/news/uk-67218916

Fast-fashion firm Boohoo has broken promises to make its clothes fairly and ethically, a BBC Panorama investigation has found.

An undercover reporter at the company's Manchester HQ saw evidence of staff pressuring suppliers to drive prices down, even after deals had been agreed.

Boohoo said it hasn't shied away from the problems of the past and has driven positive changes in its business.

The retailer is a market leader in getting its customers the latest styles as cheaply and quickly as possible. Last year, Boohoo Group had 18 million customers and £1.7bn worth of sales.

Three years ago, Boohoo promised to overhaul the way it did business and launched its "Agenda for Change" programme.

The move was sparked by reports that staff at a factory making Boohoo clothes in Leicester were earning less than the minimum wage and in unsafe working conditions.

Boohoo then asked a senior barrister to review its supply chain. Alison Levitt KC found the allegations to be "substantially true".

The company then introduced Agenda for Change - which includes promising to pay its suppliers a fair price for garments, with realistic timescales.

But BBC reporter Emma Lowther saw those promises being consistently undermined during her 10 weeks undercover at Boohoo's head office in Manchester, where she worked as an admin assistant.

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  • 1 month later...
  • 2 weeks later...

Still dragging the good name of Pakistani/muzzer bizzyness thru the mud ...

Boohoo put 'Made in UK' labels on clothes made overseas

https://www.bbc.co.uk/news/uk-67929755

Top tip  to the media - if Pakis/muzzers are doing it then its a scam/illegal labour/tax dodging.

 

Fast-fashion firm Boohoo put "Made in the UK" labels on potentially thousands of clothes that were actually made in South Asia, BBC Panorama has found.

Plain T-shirts and hoodies had their original labels removed at Boohoo's flagship factory, Thurmaston Lane in Leicester, last year.

Boohoo said the incorrect labels were down to a misinterpretation of the labelling rules.

Thurmaston Lane opened two years ago and was promoted by the retailer as a UK manufacturing centre of excellence, offering end-to-end garment production in the UK.

The mislabelling took place at the factory, affecting up to one in 250 of Boohoo's global supply of garments between January and October 2023.

The BBC estimates that this could amount to hundreds of thousands of wrongly labelled garments. However, the retailer would not provide its own figures.

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