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
The Boohoo share price has been on a 9-day consecutive bull run. Today, the prices are up by 2 per...
The Boohoo share price has started the day on a negative note, as the stock struggles to command the attention...
The Boohoo share price is in a tight range after the company released its first-quarter earnings last week. The BOO...
Boohoo share price will be watched today after media reports suggested that the company will acquire the Debenhams brand. The...
The Boohoo share price is still in trouble. The BOO stock declined by more than 4.4% on Monday and crashed...
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The Boohoo (BOO) share price started August with a bang. The shares jumped by more than 2% on Monday morning...
Boohoo share price is outperforming the broader UK market. The shares of the online retailer are still catching a bid...
The Boohoo share price has started Tuesday’s trading session on a negative note, pushing lower by 1.54% as investors continue...