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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  ASOS Plc    ASC   GB0030927254

ASOS PLC

(ASC)
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Delayed Quote. Delayed London Stock Exchange - 09/25 11:35:05 am
5358 GBX   +2.88%
09/17ASOS : RBC reiterates its Buy rating
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09/11ASOS PLC : The underlying trend is to the upside
09/11FEAR AND FRUSTRATION : Europe's wealthy keep wallets closed
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UK lawmakers, retailers call for action to prevent garment workers' exploitation

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07/19/2020 | 10:05pm EDT

A group of 50 British lawmakers, retailers such as Marks & Spencer and New Look, and investors and NGOs called on Monday for urgent action to prevent the exploitation of garment factory workers in the United Kingdom.

Their joint letter, coordinated by industry lobby group the British Retail Consortium (BRC) and addressed to interior minister Priti Patel, asked for the introduction of statutory licensing of garment factories to ensure they all meet their legal obligations to employees.

The letter was published following recent media reports of workers being paid below the minimum wage, not being supplied with personal protection equipment (PPE) and working in unsafe conditions.

Britain's minimum wage is 8.72 pounds ($10.95) for people over 25 years old and 8.20 pounds for people aged 21 to 24.

The BRC said it and its members have long been calling for greater enforcement by the authorities to support the actions retailers are taking to ensure fair treatment of workers and to encourage businesses to invest in UK fashion manufacturing.

"Recent reports in the media demonstrate the urgent need for action before more workers are needlessly taken advantage of," said BRC chief executive Helen Dickinson.

The letter said the proposed licensing scheme would protect workers from forced labour and mistreatment, ensure payment of taxes and create a level playing field for businesses to compete fairly by preventing rogue manufacturers undercutting prices.

It would also encourage retailers to source their clothing from the UK, supporting the development of the industry.

Retailer signatories include ASOS, Walmart owned Asda, M & S, Morrisons, N Brown, Joules, New Look, River Island and Matalan.

Online fashion retailer Boohoo was not a signatory. It wrote its own letter to Patel on Friday backing a licensing scheme.

"We fully support the proposals of the BRC and others on the need to implement statutory licensing of garment factory owners and managers," said a Boohoo spokesman.

Investor signatories include Allianz Global Investors, Columbia Threadneedle Investments, Fidelity International, Jupiter Asset Management and Schroders Investment Management.

($1 = 0.7962 pounds)

(Reporting by James Davey; Editing by Alexandra Hudson)

Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -1.46% 161.98 Delayed Quote.-25.83%
ASOS PLC 2.88% 5358 Delayed Quote.58.85%
BOOHOO GROUP PLC 15.23% 373.8 Delayed Quote.25.71%
JOULES GROUP PLC 3.33% 93 Delayed Quote.-59.57%
MARKS & SPENCER GROUP PLC -4.40% 92.94 Delayed Quote.-55.97%
N BROWN GROUP PLC -1.61% 45.9 Delayed Quote.-71.81%
NEXT PLC -1.33% 5934 Delayed Quote.-15.45%
SCHRODERS PLC -0.57% 2630 Delayed Quote.-21.12%
WALMART INC. 0.42% 137.27 Delayed Quote.15.51%
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Financials
Sales 2020 3 220 M 4 101 M 4 101 M
Net income 2020 104 M 133 M 133 M
Net cash 2020 79,2 M 101 M 101 M
P/E ratio 2020 50,4x
Yield 2020 -
Capitalization 5 331 M 6 772 M 6 791 M
EV / Sales 2020 1,63x
EV / Sales 2021 1,41x
Nbr of Employees 4 000
Free-Float 73,3%
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Technical analysis trends ASOS PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 5 038,16 GBX
Last Close Price 5 358,00 GBX
Spread / Highest target 40,4%
Spread / Average Target -5,97%
Spread / Lowest Target -44,0%
EPS Revisions
Managers
NameTitle
Nicholas Timothy Beighton Chief Executive Officer & Executive Director
Adam Alexander Crozier Chairman
Mark Holland Chief Operating Officer
Mathew James Dunn Chief Financial Officer & Director
Clifford Cohen Chief Information Officer
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