Q3 2020 Guess Earnings Conference Call
11/26/19 4:45 PM
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190910005038/en/
GUESS Announces Release of Third Sustainability Report (Photo: Business Wire)
The report covers the three pillars of the GUESS sustainability plan; operating with integrity, empowering people and protecting the environment. Updates to the plan emphasize GUESS’s commitment to transparency and verification, protecting workers, promoting diversity and inclusion, internal guidelines for product responsibility and greenhouse gas emissions reduction.
“In the two years since GUESS published our last sustainability report, public interest and awareness has increased dramatically on a wide range of subjects from climate change to circular fashion and from human rights to transparency, diversity and inclusion,” says
GUESS is committed to operating with integrity and promises to practice good governance and ethics as well as transparency and verification. GUESS’s operating with integrity goals for 2021 include strengthening sustainability oversight at the board level and obtaining third party assurance of non-financial data to increase stakeholder confidence in reporting. The second pillar of their sustainability plan, empowering people, showcases the brand’s commitments to diversity and inclusion, supply chain social responsibility as well as sustainability education and engagement. Goals in this area include expanding GUESS’s
The final pillar, protecting the environment, highlights GUESS’s commitment to product responsibility, water stewardship and reducing greenhouse gases in their operations. 2021 goals include implementing Science Based Targets, reducing greenhouse gas emissions by 15%, sourcing certified sustainable materials for 20% of its global portfolio across brands, and fulfilling its pledge with Global Fashion Agenda’s 2020 Circular Fashion System Commitment.
Since the release of GUESS’s last sustainability report in 2017, GUESS has educated over 250 students and associates on sustainability, achieved 10% energy emission reductions from their Fiscal Year 2016 baseline, and trained over 150 supplier factories in top sourcing countries. In addition, GUESS has expanded worker welfare programs, increased female representation on its Board of Directors and expanded the Eco Collection globally. This fall, nearly 10% of U.S. Women’s denim purchased for the season is made with water saving technology and contains environmentally preferred materials. Notable progress towards reaching its 2020 commitment with Global Fashion Agenda’s Circular Fashion System includes the launch of RESOURCED, a clothing and shoe recycling program, in all U.S. stores and the introduction of GUESS Vintage, a selection of second-hand GUESS garments curated from around the globe.
For more information about GUESS’s Sustainability Report, please visit sustainability.guess.com.
Established in 1981, GUESS began as a jeans company and has since successfully grown into a global lifestyle brand.