Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. ASOS Plc
  6. News
  7. Summary
    ASC   GB0030927254

ASOS PLC

(ASC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

UK lawmakers, retailers call for action to prevent garment workers' exploitation

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)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE 0.64% 219.8 Delayed Quote.8.82%
ASOS PLC -1.56% 4848 Delayed Quote.2.97%
BOOHOO GROUP PLC -0.97% 325.9 Delayed Quote.-4.05%
JOULES GROUP PLC -2.03% 290 Delayed Quote.75.15%
MARKS AND SPENCER GROUP PLC -0.71% 154.85 Delayed Quote.14.42%
N BROWN GROUP PLC -7.98% 58.25 Delayed Quote.5.15%
NEXT PLC -0.35% 8008 Delayed Quote.13.41%
SCHRODERS PLC 1.17% 3646 Delayed Quote.8.00%
WALMART INC. -1.16% 138.3736 Delayed Quote.-2.88%
All news about ASOS PLC
06/14JD SPORTS FASHIONá : boss defends pay policy ahead of investor meeting
RE
06/14Marshall Wace, Citadel Among Funds Shorting GBP1 Billion of UK Stock in Beari..
DJ
06/07CLIPPER LOGISTICSá : Expects FY21 EBIT Growth to Meet Expectations Supported by ..
MT
06/04ASOSá : Morgan Stanley sticks Neutral
MD
05/31Retailers and unions agree on 3-month extension to Bangladesh workers' safety..
RE
05/23RESONANCE HEALTHá : Files Global Patent for Antisense Oligonucleotides Usage
MT
05/14ASOSá : JP Morgan remains its Buy rating
MD
05/06Zalando to add five warehouses as ecommerce booms
RE
04/28ASOSá : calls for implementation of mandatory human rights due diligence legisla..
PU
04/20ASOSá : Gets a Buy rating from RBC
MD
More news
Financials
Sales 2021 3 990 M 5 619 M 5 619 M
Net income 2021 148 M 208 M 208 M
Net cash 2021 128 M 180 M 180 M
P/E ratio 2021 33,0x
Yield 2021 -
Capitalization 4 905 M 6 911 M 6 907 M
EV / Sales 2021 1,20x
EV / Sales 2022 0,98x
Nbr of Employees 3 824
Free-Float 68,3%
Chart ASOS PLC
Duration : Period :
ASOS Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASOS PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 6 146,08 GBX
Last Close Price 4 925,00 GBX
Spread / Highest target 73,3%
Spread / Average Target 24,8%
Spread / Lowest Target -31,0%
EPS Revisions
Managers and Directors
NameTitle
Nicholas Timothy Beighton Chief Executive Officer & Executive Director
Mathew James Dunn Chief Financial Officer & Director
Adam Alexander Crozier Chairman
Ian Dyson Senior Independent Non-Executive Director
Karen Geary Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ASOS PLC2.97%6 911
AMAZON.COM, INC.3.87%1 706 566
JD.COM, INC.-18.74%110 499
WAYFAIR INC.37.00%33 077
ETSY, INC.-6.66%21 646
ALLEGRO.EU SA-30.59%16 073