NEW YORK/ LONDON – November 20th, 2020 – Signal AI, a strategic communications tool provider that uses artificial intelligence to interpret the world’s media and turn it into insight empowering better decisions, today released a reputation insight graph charting media sentiment with share price on the crisis striken retailer Boohoo.
Signal AI Reputation Insight Sentiment Graph on crisis-stricken retailer Boohoo Group Plc
The blue line is Boohoo Group PLC share price. The green/red is media sentiment. The insight? Dip in media sentiment comes ahead of dive in share price.
As early as August 2019, influential outlets called out Boohoo’s unethical labour practices. The I and the Economist said that Boohoo, alongside JD Sports and Amazon, were using illegally cheap labour and that they need to change their labour practices. In April 2020, Boohoo came under increased scrutiny, with reports that it was not complying with the COVID-19 restrictions within their factories.
In July 2020, the labour scandal fully erupted. These earlier hints grew into damaging reports that Boohoo suppliers paid factory staff well under the minimum wage during the lockdown and that they were making the staff work with the virus.
October 19th 2020 – Boohoo share price crash as PWC steps down as auditors due to reputation concerns.
Boohoo Group Plc’s share price has not recovered.
About Signal AI
Signal AI, one of the leading companies turning the world’s data into knowledge and empowering business leaders across a range of industries to make better decisions. Signal AI is a leading disruptor in the PR and communications market through the use of “trainable” artificial intelligence, allowing customers to customise the Signal AI platform to spot, interpret and recommend key media and communication insights. The platform’s brain, named AIQ, can read and interpret over 5 million documents a day, and surface critical media intelligence in real-time. Signal AI communications and reputation management customers include banks, law firms, governments, and NGOs. It was recently nominated 23 on the Sage Sunday Times Tech Track 2020 and was the second fastest growing AI company on the list.