Some stuff indicating the downside risk. Some trader called ‘Evil Knievil’ taken a big bet against it - thinks its governance will be the downfall & markets have ignored ShadowFall Report (saying its overstating profits) and some investors are fighting against a £50m bonus for the boss of Boohoo.
Good to know the potential downsides as the business looks to have a really relevant offering - when governance in a business goes wrong, things can come down pretty sharp!!!
Thanks for this.
I clearly have to do more sleuthing on Boohoo before I commit, and I’d definitely like to avoid all-time high prices if governance issues like this can crop up.
This is just thoroughly disgusting. Glad I sold a while back.
I only bought in a couple of weeks ago at £4.12 a share. 
Sure it will recover in time.
No doubt long term it will, but it’ll be interesting to see what happens over the coming weeks.
Not only has it on this but also the accounting scandal to deal with - can imagine a lot are running for the hills at the moment
looking like it will almost halve its value in two days
Yikes. Nearly 1.5 billion wiped off the market cap since yesterday morning.
I would like to know which other clothing companies are using slaves in the UK, because it won’t just be Boohoo
That’s the reality of fast fashion. If you’re selling products so cheaply it’s always going to involve the exploitation of workers whether the clothes are made in Pakistan or in the UK.
We as consumers can change this.
True. But there’s still a difference. In these countries that pay would allow an acceptable but low standard of living. Here, in one of the richest countries in the world, it’s despicable.
I’m surprised there’s still a textile industry in the UK tbh.
Independent review of UK supply chain
Solid RNS from BooHoo today setting out actions to investigate claims with a timeline.
Wholesale like ASOS makes up a small percent of their turnover, 4% in the last financial year.
Managed to get in at £2.60, but seems like it’s still going down.
Like others have said on here, these partners are a small portion of their revenue and I don’t think their core customer base will care where their clothes are made. Primark has been using sweatshops for years and its customers couldn’t care less
I think this is an overreaction and am picking up shares at these prices.
You own shares and think it’s all fine? Why would you post this.
Primark makes clothes in jurisdictions which pay the local rate. The minimum local rate in the UK is not negotiable, but if they are found to have broken the law it dosnt matter what the public opinion is.
Good price to buy at. This is a massive overreaction. Opportunities like this are rare. Good balance sheet and distribution network
I’m not saying I think their business practices are fine, I just don’t think their customers will be put off by the bad news stories. Like others have said, I’m looking at this as a chance to make some good returns as a result of a 50% price decline in 2 weeks.
I think you’re half right. Most retail customers probably won’t even notice the news, but being cut off from Next’s customer base may have a more noticeable impact, especially among customers who don’t want to buy online.
