It was a year of mixed fortunes for the Boohoo share price. A supply chain scandal rocked the brand, causing reputational damage, but both active users and revenues saw huge increases.
As the fashion retailer prepares to release its Q1 results, the Boohoo share price is languishing near its lowest point this year. Will the latest numbers offer a boost?
Boohoo share price still recovering after scandal
2020 was a year of two halves for Boohoo. The first was notable for a scandal around a supplier factory in Leicester which was operating below the required standards as set by UK Health and Safety, and paying below minimum wage levels.
The scandal damaged not only the Boohoo share price, but also its reputation, as ASOS, Next and Amazon dropped the retailer’s Nasty Gal and PrettyLittleThing brands. There was also a damning inquest, led by Allison Levitt QC, which cited ‘inadequate’ oversight of the factories in question, owing to ‘weak corporate governance’. The company accepted the findings.
In spite of the short-term brand…
