JOANN Releases Corporate Responsibility Impact Report, Highlighting Progress and Updated EVERGREEN Strategy

Rhea-AI Summary

JOANN Inc. has released a report outlining its Corporate Responsibility results for Fiscal Year 2023. The report highlights the company's impact across its EVERGREEN Strategic Pillars, including creating an inclusive workplace, minimizing carbon footprint, promoting reusability, and supporting diverse customer base and communities. JOANN received national recognition for its workplace diversity and charitable giving efforts. The company also implemented energy efficiency improvements and reduced packaging waste. JOANN conducted climate risk assessment and materiality assessment to enhance ESG oversight and governance.

Positive

• JOANN earned national recognition for its workplace diversity efforts, being named to Newsweek's lists of America's Greatest Workplaces for Diversity, LGBTQ+, and Women.
• JOANN donated over $4.7 million in product donations to underserved schools and raised over $6.2 million for various charitable organizations.
• The company implemented energy efficiency improvements across retail stores, resulting in an estimated savings of over 50 million kWh of energy.
• JOANN reduced overall packaging ordered by 15% year-over-year in FY23.
• The company conducted climate risk assessment, materiality assessment, and evaluated Scope 3 GHG emissions to enhance ESG oversight and governance.

Negative

• None.

HUDSON, Ohio, Nov. 06, 2023 (GLOBE NEWSWIRE) -- JOANN Inc. (NASDAQ: JOAN) (“JOANN”), the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, has released a report outlining the company’s Corporate Responsibility results for Fiscal Year 2023. The report highlights the company’s impact across its EVERGREEN Strategic Pillars:

• Creating an environment where all Team Members can be their authentic selves and contribute at the highest level;
• Minimizing carbon footprint by taking action throughout JOANN and supplier operations;
• Powering reusability with customers to tie environmental responsibility to a greater purpose; and
• Appealing to, inspiring and supporting diverse customer base and communities.

“The mission of our EVERGREEN Strategy is to work every day to be a better corporate citizen than we were the day before,” said Chris DiTullio, Chief Customer Officer and Interim Office of the CEO. “Whether it’s knitting hats for cancer patients, crafting scrapbooks for family members, or creating blankets for those in need, our Team Members and customers are inspired to make the world a better place. The strategy outlined in this report builds on our goal of continuously supporting and celebrating those who give back and inspire others to use their hands, hearts, and minds for the good of other people, our planet, and our communities.”

A few highlights from the report include:

Team Members
Continued benefits, opportunities, and support for Team Members earned JOANN national recognition for its work to build an inclusive workplace for everyone, regardless of gender identity, race, ethnicity, age, sexual orientation, or ability. JOANN was named to Newsweek’s lists of America’s Greatest Workplaces for Diversity, America’s Greatest Workplaces for LGBTQ+, and America’s Greatest Workplaces for Women; and also named by Forbes as one of America’s Best Large Employers in 2023.

Communities
JOANN continued its dedication to charitable giving in FY23, donating more than $4.7 million in product donations to underserved schools through its partnership with the Kids in Need Foundation. Alongside its customers, JOANN raised and donated more than $6.2 million to National 4-H Council; On Our Sleeves, the Movement for Children’s Mental Health; Children’s Miracle Network; Susan G. Komen Foundation; and St. Jude Children’s Research Foundation. Additionally, the company donated more than $100,000 to its Minority Creative Grant Program, $100,000 to teachers across the nation, and more than $40,000 to the American Red Cross in support of Ukraine relief.

Environment
Efforts across the company are helping JOANN move toward more sustainable processes and solutions, including working with EcoEnergy Insights to implement energy efficiency improvements across retail stores that led to an estimated savings of over 50 million kWh of energy over the last four years. This earned JOANN recognition as a Top Project at the Environment + Energy Leader's 2023 Awards. Additionally, product packaging changes resulted in a 15% reduction year-over-year in overall packaging ordered in FY23.

Governance
JOANN conducted an Issue Prioritization Process, which culminated in 3 major projects:

• A climate risk assessment, which references the Taskforce on Climate-related Financial Disclosures framework;
• A materiality assessment, which supports ongoing reporting with reference to the Global Reporting Standard; and
• JOANN’s first evaluation of Scope 3 GHG emissions.
  

The combination of these efforts resulted in an enhanced approach to ESG oversight and governance, a better understanding of JOANN’s climate and social impact, and a clearer sense of where we should focus our EVERGREEN Strategy as we work to become a better corporate citizen.

JOANN will continue to build on its efforts in the coming fiscal years and is committed to working everyday to be a better corporate citizen than we were the day before. Learn more and download the full Impact Report at https://investors.joann.com/corporate-responsibility.

ABOUT JOANN
For 80 years, JOANN has inspired creativity in the hearts, hands, and minds of its customers. From a single storefront in Cleveland, Ohio, the nation’s leader in sewing and fabrics with one of the largest arts and crafts offerings has grown to include 830 stores across 49 states and a robust ecommerce business. With the goal of helping every customer find their creative Happy Place, JOANN serves as a convenient single source for all the supplies, guidance, and inspiration needed to achieve any project or passion.

Corporate Communications
Amanda Hayes
Amanda.hayes@joann.com

Corporate Responsibility
Erika Frondorf
Erika.frondorf@joann.com

FAQ

What is the purpose of JOANN's EVERGREEN Strategy?

JOANN's EVERGREEN Strategy aims to create an environment where all Team Members can contribute at the highest level, minimize carbon footprint, promote reusability, and support diverse customer base and communities.

What recognition did JOANN receive for its workplace diversity efforts?

JOANN was named to Newsweek's lists of America's Greatest Workplaces for Diversity, LGBTQ+, and Women.

How much did JOANN donate to charitable organizations in FY23?

JOANN donated over $4.7 million in product donations to underserved schools and raised over $6.2 million for various charitable organizations.

What is the estimated energy savings achieved by JOANN through energy efficiency improvements?

JOANN implemented energy efficiency improvements across retail stores, resulting in an estimated savings of over 50 million kWh of energy.

How much did JOANN reduce packaging waste in FY23?

JOANN reduced overall packaging ordered by 15% year-over-year in FY23.

What assessments did JOANN conduct to enhance ESG oversight and governance?

JOANN conducted a climate risk assessment, materiality assessment, and evaluated Scope 3 GHG emissions.