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Posted at 16/7/2024 08:05 by factsandfigures Fox Williams LLP, a leading London law firm, filed a group litigation claim against Boohoo Group plc (“Boohoo&rdquo Fox Williams LLP, led by litigation partners Andrew Hill and Matthew Reach, are acting for a group of institutional investors who purchased Boohoo shares in the years leading up to The Sunday Times expose on 5 July 2020 and suffered massive financial losses as a result of the share price drop. Read Full Thread Reply |
Posted at 08/7/2024 15:54 by ukneonboy The simple and concise answer to that question is ......... NO !!!and this is the reason why: Fox Williams LLP, a leading London law firm, filed a group litigation claim against Boohoo Group plc (“Boohoo&rdquo Fox Williams LLP, led by litigation partners Andrew Hill and Matthew Reach, are acting for a group of institutional investors who purchased Boohoo shares in the years leading up to The Sunday Times expose on 5 July 2020 and suffered massive financial losses as a result of the share price drop. Read Full Thread Reply |
Posted at 02/7/2024 07:39 by sellhighandbuylow Fox Williams LLP, led by litigation partners Andrew Hill and Matthew Reach, are acting for a group of institutional investors who purchased Boohoo shares in the years leading up to The Sunday Times expose on 5 July 2020 and suffered massive financial losses as a result of the share price drop. Read Full Thread Reply |
Posted at 23/6/2024 08:29 by ukneonboy On the subject of costly lawsuits, Kamani and Lyttle definitely can't brush this one, under the carpet.Fox Williams LLP, a leading London law firm, filed a group litigation claim against Boohoo Group plc (“Boohoo&rdquo Fox Williams LLP, led by litigation partners Andrew Hill and Matthew Reach, are acting for a group of institutional investors who purchased Boohoo shares in the years leading up to The Sunday Times expose on 5 July 2020 and suffered massive financial losses as a result of the share price drop. Read Full Thread Reply |
Posted at 21/6/2024 08:06 by shadowfall Post lockdown, the rising popularity of fashion retailers SHEIN and TEMU, means BOOHOO simply cannot compete on price. It is also becoming increasingly clear that consumers are favouring hybrid companies such as H&M and ZARA over online only retailers like BOOHOO on account of their physical presence. Intriguingly, changes in consumer values are also affecting BOOHOO and the rise of second-hand and pre-loved clothing retailers such as VINTED and DEPOP is gaining momentum and thus poses another massive challenge. And of course, we cannot ignore the huge elephant in the room – the rising cost of living. For most younger people, and particularly the targeted "20-somethings" demographic of BOOHOO PLC, funds are dwindling. Financial strain means it is increasingly difficult to splash the cash on new casual wear whilst struggling to afford the basics of housing, food and energy costs. Ultimately, the survival of BOOHOO PLC hangs in the balance and despite the misplaced optimism of BOOHOO Chief Executive, John Lyttle, there are multiple hurdles that BOOHOO must first conquer in order to survive. Read Full Thread Reply |
Posted at 11/6/2024 13:03 by ukneonboy BOOHOO INVESTORS SEEK £100 MILLION IN DAMAGES AFTER SLAVE LABOUR SCANDAL==================== A group of investors in Boohoo are seeking more than £100 Million in compensation from the loss making fashion retailer after reports in 2020 alleging its suppliers in Leicester were mistreating workers caused the Boohoo share price to collapse. Shares in Boohoo dived by more than 40%, wiping more than £1.5 Billion off its market capitalisation, after a 2020 Sunday Times report of labour rights violations at the group’s suppliers’ factories in Leicester indicated some garment workers were paid as little as £3.50 an hour, well below the legal minimum wage. A damning independent report conducted by lawyer, Alison Levitt QC on behalf of the fast fashion retailer later found that allegations of poor working practices in the company’s supply chain – initially denied – were “substantially true”. A legal claim on behalf of 49 investors including the California State Teachers’ Retirement System – which has investment assets totalling $332.5bn – led by lawyers at Fox Williams filed against Boohoo Group last month alleges the company made untrue or misleading statements and failed to disclose or delayed the disclosure of material information about the matter to the market, breaching its obligations under the Financial Services and Markets Act 2000. The group are understood to be seeking £100m in damages plus legal costs and interest that could add millions of pounds more to the potential bill for Boohoo PLC. Read Full Thread Reply |
Posted at 11/6/2024 06:29 by ukneonboy BOOHOO INVESTORS SEEK £100 Million IN DAMAGES AFTER SLAVE LABOUR SCANDAL==================== A group of investors in Boohoo are seeking more than £100 Million in compensation from the loss making fashion retailer after reports in 2020 alleging its suppliers in Leicester were mistreating workers caused the Boohoo share price to collapse. Shares in Boohoo dived by more than 40%, wiping more than £1.5 Billion off its market capitalisation, after a 2020 Sunday Times report of labour rights violations at the group’s suppliers’ factories in Leicester indicated some garment workers were paid as little as £3.50 an hour, well below the legal minimum wage. A damning independent report conducted by lawyer, Alison Levitt QC on behalf of the fast fashion retailer later found that allegations of poor working practices in the company’s supply chain – initially denied – were “substantially true”. A legal claim on behalf of 49 investors including the California State Teachers’ Retirement System – which has investment assets totalling $332.5bn – led by lawyers at Fox Williams filed against Boohoo Group last month alleges the company made untrue or misleading statements and failed to disclose or delayed the disclosure of material information about the matter to the market, breaching its obligations under the Financial Services and Markets Act 2000. The group are understood to be seeking £100m in damages plus legal costs and interest that could add millions of pounds more to the potential bill for Boohoo PLC. Read Full Thread Reply |
Posted at 07/6/2024 13:31 by ukneonboy Boohoo investors seek £100 Million in damages after minimum wage row==================== A group of investors in Boohoo are seeking more than £100m in compensation from the online fashion specialist after reports in 2020 alleging its suppliers in Leicester were mistreating workers caused its share price to plummet. Shares in Boohoo dived more than 40% over several days, wiping more than £1.5bn off its valuation, after a 2020 Sunday Times report of labour rights violations at the group’s suppliers’ factories in Leicester suggested some workers were paid as little as £3.50 an hour, well below the legal minimum wage. A damning independent report conducted by Alison Levitt QC on behalf of the fast fashion retailer later found that allegations of poor working practices in the company’s supply chain – initially denied – were “substantially true”. A legal claim on behalf of 49 investors including the California State Teachers’ Retirement System – which has investment assets totalling $332.5bn – led by lawyers at Fox Williams filed against Boohoo Group last month alleges the company made untrue or misleading statements and failed to disclose or delayed the disclosure of material information about the matter to the market, breaching its obligations under the Financial Services and Markets Act 2000. The group are understood to be seeking £100m in damages as well as legal costs and interest that could add millions of pounds more to the potential bill for Boohoo. Read Full Thread Reply |
Posted at 07/6/2024 13:28 by ukneonboy BOOHOO INVESTORS SEEK £100 Million IN DAMAGES AFTER SLAVE LABOUR SCANDAL==================== A group of investors in Boohoo are seeking more than £100 Million in compensation from the loss making fashion retailer after reports in 2020 alleging its suppliers in Leicester were mistreating workers caused the Boohoo share price to collapse. Shares in Boohoo dived by more than 40%, wiping more than £1.5 Billion off its market capitalisation, after a 2020 Sunday Times report of labour rights violations at the group’s suppliers’ factories in Leicester indicated some garment workers were paid as little as £3.50 an hour, well below the legal minimum wage. A damning independent report conducted by lawyer, Alison Levitt QC on behalf of the fast fashion retailer later found that allegations of poor working practices in the company’s supply chain – initially denied – were “substantially true”. A legal claim on behalf of 49 investors including the California State Teachers’ Retirement System – which has investment assets totalling $332.5bn – led by lawyers at Fox Williams filed against Boohoo Group last month alleges the company made untrue or misleading statements and failed to disclose or delayed the disclosure of material information about the matter to the market, breaching its obligations under the Financial Services and Markets Act 2000. The group are understood to be seeking £100m in damages plus legal costs and interest that could add millions of pounds more to the potential bill for Boohoo PLC. Read Full Thread Reply |
Posted at 31/5/2024 07:45 by shadowfall Post lockdown, the rising popularity of fashion retailers SHEIN and TEMU, means BOOHOO simply cannot compete on price. It is also becoming increasingly clear that consumers are favouring hybrid companies such as H&M and ZARA over online only retailers like BOOHOO on account of their physical presence. Intriguingly, changes in consumer values are also affecting BOOHOO and the rise of second-hand and pre-loved clothing retailers such as VINTED and DEPOP is gaining momentum and thus poses another massive challenge. And of course, we cannot ignore the huge elephant in the room – the rising cost of living. For most younger people, and particularly the targeted "20-somethings" demographic of BOOHOO PLC, funds are dwindling. Financial strain means it is increasingly difficult to splash the cash on new casual wear whilst struggling to afford the basics of housing, food and energy costs. Ultimately, the survival of BOOHOO PLC hangs in the balance and despite the misplaced optimism of BOOHOO Chief Executive, John Lyttle, there are multiple hurdles that BOOHOO must first conquer in order to survive. Read Full Thread Reply |
FAQs
Is it a good time to buy Boohoo shares? ›
Based on 5 Wall Street analysts offering 12 month price targets for boohoo group Plc in the last 3 months. The average price target is 39.50p with a high forecast of 70.00p and a low forecast of 24.00p. The average price target represents a 11.46% change from the last price of 35.44p.
Who are the main shareholders of boohoo? ›Shareholders: boohoo group plc
| Name | Equities | % |
|---|---|---|
| Mahmud Abdullah Kamani 12.62 % | 160,104,736 | 12.62 % |
| FIL Investment Advisors (UK) Ltd. 4.929 % | 62,548,454 | 4.929 % |
| Ocorian (UK) Ltd. 4.711 % | 59,783,627 | 4.711 % |
| Rabia Abdullah Kamani 3.996 % | 50,709,141 | 3.996 % |
With profit expected to grow by 93% over the next couple of years, the future seems bright for boohoo group. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.
Who owns boohoo shares? ›Major Shareholders
| Shareholder | Number of ordinary shares held | Percentage held |
|---|---|---|
| Frasers Group plc | 280,182,052 | 22.08% |
| Mahmud Kamani* | 157,979,880 | 12.45% |
| Schroder Investment Management | 107,735,550 | 7.18% |
| Camelot Capital Partners LLC | 71,085,587 | 5.60% |
Fundamental analysts are rating Boohoo as a 'hold' with Refinitiv data showing 2 strong buy, 3 buy, 10 hold and 6 sells - with the mean of estimates suggesting a long-term price target of 47.26 pence for the share, roughly 49% above the share's current price (as of 02/10/2023).
Why is Boohoo struggling? ›The group, like rival Asos, thrived during the pandemic-driven boom in online shopping, but as consumers returned to high street shops, it has faced a succession of challenges including supply chain issues, inflation, and more product returns.
How much debt does Boohoo have? ›boohoo group has a total shareholder equity of £279.7M and total debt of £325.0M, which brings its debt-to-equity ratio to 116.2%. Its total assets and total liabilities are £1.1B and £795.7M respectively.
What ethnicity is the owner of Boohoo? ›Early life. His father Abdullah Kamani is from Gujarat, India; settled in Kenya, but left in the 1960s due to unrest and moved to north-west England with his wife and three children. Abdullah started by selling handbags at a market stall, before starting a family textile business, supplying New Look and Primark.
What is the bonus for the CEO of Boohoo? ›Fast fashion etailer Boohoo Group announced that its executive team have waived an incentive to pay them bonuses of £1m following discussions with certain shareholders. Bonuses which were going to total £1m each were waived by CEO John Lyttle and co-founders Mahmud Kamani and Carol Kane.
Why is Boohoo stock falling? ›Fast fashion online retailers have experienced well-documented struggles with sales since the pandemic, and Boohoo is no exception. Revenue for the 2024 full year plummeted 17%. The company has blamed macroeconomic conditions, but the problems may run much deeper than external economic factors.
What was the Boohoo scandal? ›
While a BBC investigation revealed that some Leicester garment factories allegedly linked to Boohoo had been involved in a money laundering and VAT fraud scheme, some of the group's Pakistan-based suppliers had also been accused of paying workers 29 pence per hour when working in alleged appalling conditions.
How profitable is Boohoo? ›In the year ending February 28, 2023, the Boohoo Plc. group accumulated a gross profit worldwide of approximately 985 million British pounds. This represented a slight decrease from the previous year.
Who is the largest shareholder of Boohoo? ›Mike Ashley's Frasers Group, which owns Sports Direct, Flannels and House of Fraser, has upped its stake in Boohoo Group from 10.4% to 13.4%. Frasers is now the single largest shareholder in Boohoo Group.
Does Boohoo pay dividends? ›boohoo group Plc (GB:BOO) does not pay a dividend.
Is Boohoo made in China? ›Boohoo has been criticised for promoting fast-fashion which critics claim comes at a cost to those making the clothes and the environment. More than half of Boohoo's garments are produced in the UK, especially Leicester, London, and Manchester.