Analysts noted that the AIM-listed retailer has implemented 20 of the 34 recommendations from the Levitt review and that it will update at the AGM on potentially linking executive pay to ESG targets.
Barclays echoed these views, stating that these supply chain issues have been an overhang on the shares for almost a year now, but it is encouraging to see management dedicating more time and resources to addressing these topics, which should help rebuild confidence.
The bank said boohoo is well-placed to benefit from the reopening of its markets, with its test-and-repeat model and disruptive pricing.
There are still some unknowns around how the remainder of the year will look as the world opens up, which should act as a boost for the key ‘going out’ ranges.
On Wednesday, boohoo said it expects revenue to jump 25% in the year to February 2022 after a 41% climb to £1.7bn in the year to 28 February.
Shares dipped 2% to 314p on Thursday at noon.