abercrombie and fitch sustainability report

participating in the United Nations Global Compact, a voluntary "ANF's Q1 report suggests brands with good momentum have remained resilient despite macro pressures," UBS analysts said in a note. A&F Co. has leveraged the Inspectorio Rise platform to implement our COVID-19 Assessment against local government standards (e.g. Abercrombie & Fitch Co. ("A&F"), a company incorporated in Delaware in 1996, through its subsidiaries (collectively, A&F and its subsidiaries are referred to as the "Company" and "we") is a global multi-brand omnichannel specialty retailer, which primarily sells its products through its wholly-owned store and direct-to-consumer channels, They delivered a clear message: if Abercrombie & Fitch wants to appeal to today's consumer, it needs to take action to ensure that it is protecting . A newly created role. Based on 17 survey responses. Incorporating recycled polyester in our fabric helps to divert discarded plastic bottles or other virgin plastic materials from landfills to more productive use. it, needed to be biggerand we agreed. Following the audit, factories are assigned specific grades based on findings. fashion resale marketplace, to reduce waste. Abercrombie & Fitch Co. partners with its Agents and Vendors to address these issues. "Sustainability is an important part of who we are as a company, , who will take on the position of Senior Vice President of Environmental, Social and Governance. Read more about our Conflict Mineral Policy here. Investors If there are any technical changes within a factory, including expansions or extensions, a Technical Support Visit will be completed to ensure changes adhere to relevant safety regulations and legislation. A&F Co. achieved and maintained its goal to source 100% of down from Responsible Down Standard (RDS) certified sources since fiscal year 2020. you a gift card to get something new while getting a little more life According to our VCOC, all workers are to have the right to collectively bargain. 2021 ANNUAL REPORT 2 Abercrombie & Fitch Co. is a leading, omni-channel specialty retailer of apparel and accessories for men, women and kids through ve global brands. PDF Abercrombie & Fitch Co. - Climate Change 2020 Meeting new demands in retail during a pandemic: Abercrombie & Fitch By obtaining proper certification and supply chain transparency, the Responsible Down Standard (RDS) (independently) certifies down and feathers against animal welfare requirements and tracks it from farm to final product. We partner with down suppliers to comply with Textile Exchanges Responsible Down Standard . High risk issues, such as those related to wages, compensation and factory transparency, require detailed follow-up with the factory to gauge improvements. "While it is true that pressures are building in the retail market, we are not anticipating this to create a complete collapse in consumer demand," said Neil Saunders, managing director of GlobalData, adding that the company is fortunately on the right side of trends. We know Gen Z and millennial customers want to spend their time and money on brands that are not only talking the talk, but also walking the walk when it comes to supporting the causes that they are passionate about. possibilities. young people. The brands share a commitment to offering products of enduring quality and exceptional comfort that allow consumers around the world to express their own individuality and style. realize our fullest potential. We are dedicated to fostering equity and well-being for all, and we support causes that are important to not only these generations, but also to our company as a whole including social and racial justice, mental health, sustainability, and more. Environment Employees Community Governance. Abercrombie & Fitch Co. (NYSE: ANF) is a leading, global, omnichannel specialty retailer of apparel and accessories for men, women and kids through five renowned brand The company operates 750+ stores under these brands across North America, Europe, Asia and the Middle East, as well as the e-commerce sites www.abercrombie.com , www.abercrombiekids.com , www.hollisterco.com , www.gillyhicks.com . For us, this has translated into leaning even further into inclusion and diversity. Most recently, weve seen how todays ongoing supply chain challenges are impacting the entire business community. In 2022, the most common findings for the categories with the highest percentages are: The chart below shows the percentage of factories with findings of non-compliance in each category. 3. Click the button below to be notified when financial info becomes available. Lopez brings his experience from his previous roles that have allowed him to develop diversity strategies in organisations like Hewlett Packard Enterprisehis previous employer, Diageo, and Alcoa. Abercrombie & Fitch ESG Score and Rating (NYSE:ANF) - MarketBeat Backed by world-class investors, thredUP designed a resale engine that has redistributed over 100 million unique garments from closets across America and is now powering resale for the broader fashion industry via its Resale-As-A-Service (RAAS) platform. Our Commitment to At a corporate and brand level weve engaged several strategic partnerships to help us achieve broader sustainability goals to help strengthen communities around the world while reducing our environmental footprint. percent by 2022 and instituting training programs for its vendor 2015 Annual Report 1.8 MB. it is the largest corporate sustainability initiative in the world. with a sustainable process by 2025, reducing water use in denim by 30 Nirapon partners with Amader Kotha, an independent initiative that operates an anonymous helpline to provide workers a direct voice to report safety and other issues, and to allow managers to resolve issues. A&F Co. is thredUPs latest Resale-as-a-Service (RAAS) cleanout distribution partner. See here for a complete list of exchanges and delays. This typically takes place six months from the audit date. sourcing its materials by using either recycled fibers or fibers made Yet, Abercrombie & Fitch considerably outperformed in 2020, enjoying a 43% increase in digital net sales. A&F Co. sustainability team will monitor progress and may schedule in-person or e-learning training. Allies of The Trevor Project & The Fiercest People We Know We'll send you a temporary password so you can quickly sign in and continue. SeriousFun helps children with serious illnesses and their families experience the magic of Enter your password to sign in. Investor Relations. have the greatest positive impact by 2025. program and the HER Project to support women working in the apparel industry. Add Files. 3. In alignment with the UNs Sustainable Development Goals, were working hardto address global challenges. 28 ), Factory with findings that need to be addressed immediately (e.g. 2016 Annual Report 2015 Annual Report 2014 Annual Report 2013 Annual Report 2012 Annual Report 2011 Annual Report Together were striving to create a positive impact for workers and factories as well as Nirapon Members.The three main areas of focus in Nirapon Safety Management Program include: Safety Monitoring: Safety monitoring will continue to focus on structural, electrical, and fire safety. Comfortable, 2013 Annual Report 1.1 MB. For more than 125 years, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers and entrepreneurs. Joining the UN Global Compact and setting our new sustainability See the latest news and events on Instagram and connect with us on LinkedIn Website Terms Of Use | Privacy Notice | 2023 - Abercrombie & Fitch Co | All Right Reserved, California Transparency in Supply Chains Act, Personal Advancement & Career Enhancement (P.A.C.E.) Request Information View Annual Report This company has an annual report available to view on our partner site, AnnualReports.com incorrect calculation of annual leave payment, etc. Within our Cellulosic Fiber Policy announced in 2017, we are committed to establishing due diligence processes and tracking systems in order to improve traceability. . Ultimately, we are committed to taking stock of how we affect and project into the world. Abercrombie & Fitch Co. Expands Sustainability Efforts with - GlobeNewswire All temporary workers have legal contracts according to their position and legal requirement. Our are just a few of the other big fashion names to announce new sustainability targets. ESG ratings, impact investing and sustainability data for Abercrombie & Fitch Co., Retail and USA. The retailer has since moved away from the industry and firmly placed itself in high street fashion. The A&F Challenge is our annual music festival and fundraiser. For 125 years, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers, and entrepreneurs. Abercrombie & Fitch jumps on surprise profit, sales forecast raise Nirapon uses helpline data as an early-warning system to identify emerging risks and inform our education content. The toxic politics of clothes: The Abercrombie & Fitch story John Doyle Television critic Published April 19, 2022 This article was published more than 1 year ago. A&F Co. complies with the DoddFrank Wall Street Reform Act to prevent armed groups from benefiting from the sourcing of conflict minerals from the Democratic Republic of Congo and the covered countries. The collection was exclusively created by BIPOC The password you entered does not match the email provided. Abercrombie & Fitch announces new sustainability targets. During the pandemic, A&F Co. remain in constant communication with our suppliers to ensure new health and safety measures are being implemented. As part of that commitment, we publicly report the companys progress. The health and safety of supply chain workers is a key area of focus for Abercrombie & Fitch Co. We strive to ensure the facilities throughout our supply chain are safe and protect the health of those working in them. Black, When we began designing our 2023 Black History Month collection, our BIPOC and to our customers, our employees and our partners. A&F Co. sourced recycled polyester in 1% of units containing at least 25% polyester fabric in fiscal year 2022. Abercrombie; Abercrombie . The industry leader for online information for tax, accounting and finance professionals. Since 2013, we have undertaken extensive remediation efforts in Bangladesh in order to partner with our suppliers to assess and address key matters in their factories, including workplace safety. Abercrombie & Fitch Co. ("A&F"), a company incorporated in Delaware in 1996, through its subsidiaries (collectively, A&F and its subsidiaries are referred to as the "Company" and "we") is a global multi-brand omnichannel specialty retailer, which primarily sells its products through its wholly-owned store and direct-to-consumer channels, The Hollister brand epitomizes the liberating and carefree spirit of the endlessCaliforniasummer for the teen market. With low-waisted jeans and polo tees that featured the iconic moose logo, it was the "it" brand in high schools across the country. By 2021, Abercrombie & Fitch Co. which owns the namesake label as well as Hollister, Abercrombie Kids and two smaller brands under the Hollister umbrella was on the rebound. Thats why we also aim to account for inclusivity, stitch by stitch, into all of our designs, from our sizing, to fabric selection, to gender inclusivity, to fits that consider multiple body shapes and functions. Abercrombie & Fitch has jumped on the sustainability bandwagon. of $814.5 mln, Inventories fall 20%, compared to year ago, Shares rise as much as 29% to over two-month high. This collaboration brings a training of trainers approach, with the trainers in factories receiving direct support through an e-Learning platform, real-time online, and onsite support to enhance their learning experience and provide an up-to-date safety program. In continuing A&F Co.s ongoing effort to make safety improvements in Bangladesh factories, our company joined Nirapon in 2019. We work closely with our vendors to place a high priority on being prepared to deal with emergencies and making sure facilities have the appropriate equipment in place to keep the working conditions safe and healthy. AboutAbercrombie & Fitch Co. Abercrombie & Fitch Co.(NYSE: ANF) is a leading, global specialty retailer of apparel and accessories for Men, Women and Kids through three renowned brands. In addition, Safety Support Visits (SSV) will be conducted as a quality assurance measure of the 90-day report and serve as an independent assessment of safety management systems to help the factories continue to develop these systems in an effective and sustainable way. justice. Factories that need added assistance with improving working conditions and remediating violations are enrolled in our Remediation Program. In addition, Better Work will conduct 3-5 advisory visits to factories to develop improvement plans and assist factories to correct the issues. You can unsubscribe any time! We work with Canopy and our cellulosic fiber suppliers to collaborate and support solutions that protect ancient and endangered forests. As part of the new role, Lopez will be positioned as a member of the companys Executive Steering Committee, reporting directly to the Chief Human Resources Officer, Holly May. If a collective bargaining agreement is in place, compliance with all contractual provisions is required. to ensure that sustainability is truly embedded throughout our entire Since 2019, when we set a goal to reduce water usage in denim production, we've saved over 190,300,000 gallons of water with more efficient dying and washing methods. 2016 Annual Report 8.9 MB. The apparel maker's inventories fell 20% to $448 million, compared to a year ago. Black creators within our BIPOC community. Consumers have been diversifying somewhat out of denims, said CEO Fran Horowitz, adding "this non-denim bottom trend that we're seeing is really terrific.". Subscribe to receive financial information and news on Abercrombie & Fitch Co. through Email. This collaboration not only helps reduce textile waste, but it also offers our customers a convenient way to do good, something we know they are eager to do.. NEW ALBANY, Ohio, Aug. 21, 2019(GLOBE NEWSWIRE) -- Abercrombie & Fitch Co.(NYSE: ANF), a leading, global specialty retailer of apparel and accessories, today announced that it has become a participant of the United Nations Global Compact, the world's largest corporate citizenship and sustainability initiative. Sustainability LIVE London is the UKs leading sustainability, net zero and ESG event, welcoming 7,000+ attendees from across the globe on 6-7th September, As Sustainability LIVE London is fast approaching, were proud to introduce the first three speakers who will be taking centre stage, Can the data demands of AI and IoT be counterbalanced to create a net-positive sustainable impact and enhance the worlds future smart cities?. Abercrombie & Fitch: A Business Ethics Perspective in the Fa Add Files. By enabling factories to own safety, Nirapon is helping them prepare Bangladesh for a safer, more productive future. Introducing a recurring collection designed to amplify Black voices and culture beyond Black History Monthbecause the 28 days of February are not enough. At the brand level, we encourage a culture of belonging and our brands celebrate the individuality and authenticity of our associates, customers and global communities. Exclusive news, data and analytics for financial market professionals, Reporting by Granth Vanaik in Bengaluru; Editing by Maju Samuel, Walmart reiterates goal of doubling international gross merchandise in five years, Henkel plans to continue with acquisitions, Rheinische Post reports, Wall St Week Ahead: Surging US megacap stocks leave some wondering when to cash out, US telecom companies say not in talks with Amazon for wireless services, Renault customers to lodge criminal complaint in France over faulty engines, Logs show Fed's Powell in whirlwind of meetings during March banking turmoil, Venezuela's oil exports drop as heavy crude processing sags, stocks drain, JPMorgan president says loan demand declining, US economic slowdown weighs. Supportive environment. By brand, Abercrombie sales, which includes the Abercrombie and Abercrombie Kids brands, rose 14 percent to $436 million from $383.9 million in the year-ago period, though Hollister sales declined . I will focus on the four main social responsibilities that A&F highlights, which are environmental sustainability, diversity and human rights in the employment and its independent contractors, customer care, and the . We take the issue of incorrect wage payments very seriously at A&F Co. Factories that do not comply with the legal regular and overtime wages are required to complete a corrective action plan with follow up from A&F Co. A&F will not terminate our business relationship with factories that are honest and transparent about their actual practices. voices and ideas, and honor Black culture beyond Black History Month. "(Abercrombie) is no longer just a jeans and T-shirt business," Horowitz said on a post-earnings call. Nirapon is an industry-led nonprofit organization that collaborates with global brands, retailers, manufacturers, and NGOs to create and sustain a culture of workplace safety in Bangladesh factories. Kim Harr - Vice President Global Sustainability - Abercrombie & Fitch However, all factories must be willing to make gradual improvement over a reasonable period of time. Abercrombie's forecast comes in contrast to several consumer companies such as Kohl's Corp (KSS.N) and Target Corp (TGT.N) that have maintained their guidance for this year. Abercrombie & Fitch Get emails about exclusive offers & the hottest new looks from Abercrombie & Fitch. "Joining the UN Global Compact and setting our new sustainability targets through 2025 are major steps forward for A&F," said CEO Fran Horowitz in a statement. Abercrombie & Fitch Brand Marketing Report Today, activists took this message to Abercrombie & Fitch's flagship store in Santa Monica, CA. MOST RECENT Abercrombie & Fitch does not currently have any reports on ResponsibilityReports.com. Weve made progress across all of our 2025 key sustainability targets. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. A newly created role. These goals include responsibly History, Month collection, our BIPOC designers told us For our business, the key is finding authentic ways to do that. There are more than 55 other members, who have enrolled more than 330 factories into the Nirapon Safety Management Program. The health and safety of supply chain workers is a key area of focus for Abercrombie & Fitch Co. We strive to ensure the facilities throughout our supply chain are safe and protect the health of those working in them. Specialized Disclosure Report (sd) Together, with your help, A&F has donated $600,000 to The Trevor Project since 2010. 8. Abercrombie & Fitch Management Co. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Abercrombie & Fitch Co. partners with its Agents and Vendors to address these issues. Abercrombie & Fitch seems to create the most significant positive value in the categories of Taxes, Meaning & joy, and Jobs. A&F Co. utilizes the Textile Exchange Standards to verify sustainability claims in products, including the Responsible Down Standard (RDS), Responsible Wool Standard (RWS) and the Global Recycled Standard (GRS). Steve Fund. Continuous Improvement - Abercrombie - Social Tourist Skip to content Abercrombie Our CompanyOpen menu About Us Brands Executive Leadership Board of Directors ESG Goals made equaland when we are treated equally, we can embrace our innate confidence to Better Cotton is sourced via a chain of custody model called mass balance. These goals address global challenges such as poverty, inequality, climate change, environmental degradation, prosperity, peace and justice. Abercrombie & Fitch Co. Reports First Quarter Results To date, we've raised over $4 million with our customers for The Trevor Project, the leading suicide prevention and crisis intervention organization for LGBTQIA+ young people. Words such as estimate, project, plan, believe, expect, anticipate, intend, and similar expressions may identify forward-looking statements. Materials - Abercrombie - Social Tourist 4. Together, our teams are focused on our ongoing ESG efforts and aligning the important efforts of our sustainability, inclusion and diversity and community giving teams. See the latest news and events on Instagram and connect with us on LinkedIn Website Terms Of Use | Privacy Notice | 2023 - Abercrombie & Fitch Co | All Right Reserved, use water efficiently, care for soil health and natural habitats, reduce use of the most harmful chemicals and respect workers rights and wellbeing, care for the environment and implement the principles of, care for the environment and respect workers rights and wellbeing, Notified of policy traceability requirements, Monitor and independently verify raw material locations, Evaluate needed actions for and/or relationship with suppliers in high risk areas, Publicly report on progress by middle of 2019. AAFA/WRAP Guidance for the Continue Safe Operation of Factories During COVID-19) to countries that have been dramatically affected by COVID-19 such as Bangladesh, Cambodia, India, Sri Lanka and Vietnam. Todays consumer is expecting more from brands than ever before. The company's eponymous Abercrombie label posted a 14% increase in sales in the quarter, while the Hollister brand, dropped 7%. Abercrombie & Fitch is a clothing store with authentic quality gear for over 100 years. Steve Fund. What does it take for retailers to win in these fast-changing and challenging global [] We know millennials and Gen Z want to spend their time with organizations whose values align with their own. In the nature of modern fashion, Abercrombie also works with social media influencers like Dixie and Charli DAmelioUS-based influencers that found their fame in the popular video platform, TikTok. Clear sense of purpose. We also partner with Better Work to ensure our factories follow Better Work protocol to conduct Virtual Compliance Checks (VCCs) when Better Work staff cannot travel to factories during the COVID-19. NEW ALBANY, Ohio, April 22, 2020 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE: ANF), a leading, global specialty retailer of apparel and accessories, today announced it has partnered with. In celebration for Black History Month, were donating $250,000 to The creating expertly crafted products with an effortless, American style. A&F Co. partners closely with our vendors to remedy findings found during the audit. donating $400,000 to The Trevor Project this year, To date, we've raised over $4 million with our customers for, The Trevor Project, the leading suicide prevention and crisis. According to a . Click the button below to be notified when financial info becomes available. From 2013 until 2018, A&F Co. was part of The Accord on Fire and Building Safety. The thredUP collaboration aligns with numbers 12 and 17 of the UNs Sustainable Development Goals, which encourage responsible consumption and production and building partnerships that support the goals, respectively.
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