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    BOO   JE00BG6L7297

BOOHOO GROUP PLC

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Fashion retailer Boohoo plans to sign new safety pact with Bangladesh garment workers

09/27/2021 | 03:34am EST
FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration

(Reuters) - Online fashion retailer Boohoo said on Monday it intended to sign a new agreement with its garment workers in Bangladesh that makes retailers liable for legal action unless their factories meet labour safety standards.

The company's European rivals H&M and Inditex-owned Zara have already signed the updated agreement that was announced in August.

The new pact, called the International Accord for Health and Safety, replaces the Bangladesh Accord, which was struck in the aftermath of a building collapse in 2013 that killed more than 1,100 garment workers in the south Asian country.

The news comes a year after Boohoo accepted all recommendations of an independent review that found major failings in its supply chain in England after newspaper allegations about working conditions and low pay in factories in the Leicester area.

(Reporting by Muvija M in Bengaluru; Editing by Saumyadeb Chakrabarty)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOOHOO GROUP PLC -0.40% 174.3 Delayed Quote.-49.18%
HENNES & MAURITZ AB -5.28% 159.36 Delayed Quote.-7.35%
INDITEX -4.94% 29.24 Delayed Quote.12.29%
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Financials
Sales 2022 2 135 M 2 847 M 2 847 M
Net income 2022 69,7 M 92,9 M 92,9 M
Net cash 2022 154 M 205 M 205 M
P/E ratio 2022 32,8x
Yield 2022 -
Capitalization 2 159 M 2 876 M 2 879 M
EV / Sales 2022 0,94x
EV / Sales 2023 0,74x
Nbr of Employees 3 621
Free-Float 78,6%
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Mean consensus BUY
Number of Analysts 20
Last Close Price 174,30 GBX
Average target price 367,20 GBX
Spread / Average Target 111%
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Managers and Directors
John Lyttle Chief Executive Officer & Executive Director
Neil James Catto Chief Financial Officer & Executive Director
Mahmud Abdullah Kamani Group Executive Chairman
Jo Graham Chief Information Officer
Iain McDonald Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
BOOHOO GROUP PLC-49.18%2 876
INDITEX12.29%103 067
KERING11.96%93 434
FAST RETAILING CO., LTD.-22.54%64 550
ROSS STORES, INC.-5.94%39 094
HENNES & MAURITZ AB-7.35%28 961