Shares up after boohoo review

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Shares up after boohoo review

Digital fashion retailer boohoo (LON:BOO) has seen its share price climb by 9.71% to 355.90p (as of 11:40 BST) after publishing an independent review of its supply chain. The review found a number of failings in Leicester and recommended a number of changes be made to oversight and governance processes. However, the review was satisfied that the group did not deliberately allow illegal labour conditions to be imposed on workers in its supply chain.

Deputy Chairman Brian Small commented: “Although in some parts it makes for uncomfortable reading, I would like to take this opportunity to thank Ms Levitt on record for her diligent and thorough Independent Review, which we are making public in full today. We welcome in particular her clear recommendations, which we accept, and as a Board are committed to driving up standards in our supply chain and business practices. The Board is also committed to adding further independent experience, increased oversight on matters of compliance and business practices, and adopting higher standards of corporate governance“.

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