Boohoo share (LON: BOO) share price is experiencing an increased selling pressure at a very critical resistance level which I...
Boohoo
Boohoo is an online fashion retailer founded by Mahmood Kamani and Carol Kane in 2006. The brand sells fashion clothes under its brand and other brands aimed at customers between 16 and 30 years.
The company has seen its sales grow over the years given its affordable prices, which appeal to young people.
The fashion retailer has also acquired numerous brands from defunct high-street retailers acquired over the years as customer preferences shifted to online shopping.
As a result, the company has been blamed for contributing to the fast fashion trend that has led to significant waste in the global fashion industry.
Boohoo’s low-priced fashion items and clothes are designed to be worn a few times and then discarded as fashion trends keep shifting.
The fashion retailer’s stock price came under intense pressure in mid-2020 after an investigation by the Sunday Times found that the company’s suppliers were underpaying their workers.
The investigation revealed that some of Boohoo’s UK workers were earning as little as £3.50 (US$4.37) an hour, which was way below the government’s minimum wage requirement of £8.91 per hour.
Boohoo has since cut off numerous suppliers and has promised to ensure that all its products are manufactured in facilities with good conditions.
However, the fashion retailer’s share price has continued to suffer and is down 45.76% since January.
However, despite its shares falling, its business has not suffered as much as other UK retailers as it continues to outperform its peers.
Boohoo latest news
Boohoo share price forecast is not looking very bullish as the supply overpowers the demand in a critical zone. The...
Boohoo share price is down 0.38% in the daily timeframe after UK stocks took a plunge due to mixed economic...
Boohoo share price is outperforming the broader UK market. The shares of the online retailer are still catching a bid...
UK shares are experiencing an increase in volatility due to conflicting economic data from the US. During this time, Boohoo...
Boohoo (LON: BOO) share price is showing signs of weakness as it slid down below the key level of 37.6p...
Boohoo (LON: BOO) share price is on the rise once again. The British online fashion retailer is facing some serious...
Boohoo (LON: BOO) share price has finally broken out after trading sideways for weeks. I predicted this move in my...
Boohoo (LON: BOO) share price is still trading sideways and there has been very little to no change since I...
Boohoo (LON: BOO) share price has been trading sideways for the last one month. The shares of the British online...