The Children's Place Issues 2020 Annual ESG Report
SECAUCUS, N.J., Nov. 15, 2021 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced the release of its 2020 Environment, Social and Governance (ESG) Report.
The 2020 ESG Report details the Company’s strategic approach to ESG. It sets forth the progress made in fiscal 2020 on the Company’s environmental initiatives, including its science-based goals to reduce greenhouse gas emissions, and its measureable targets to increase the use of more sustainable raw materials in its products and to reduce the use of water and chemicals in its global supply chain. The 2020 ESG Report also establishes new and updated environmental goals against which future annual reports will measure progress on addressing climate change, water stewardship initiatives, chemical management programs, waste diversion targets and circularity through reuse and recycling.
The 2020 ESG Report also details the Company’s commitment to social topics, including workforce diversity, equity in pay and opportunity, building an inclusive environment where all people feel welcomed and valued, giving back to children and families in need, and worker well-being in its global supply chain.
Adrian Sherman, Vice President, Environment & Social Responsibility, said, “Children are at the center of everything we do, and we believe we have a special responsibility to today’s children and to future generations to contribute to a healthier planet and to foster a culture of diversity, equity and inclusion. Our annual ESG reporting highlights our initiatives and goals and details the Company’s progress toward these goals.”
The Children’s Place Board of Directors and its Committees have oversight responsibility for ESG matters, and the Company’s goals and initiatives are informed by the Sustainability Accounting Standards Board (SASB) standards, the Global Reporting Initiative (GRI) standards, and the United Nations Sustainable Development Goals (SDGs).
To view our 2020 ESG Report, please visit the Company’s website at https://corporate.childrensplace.com under the ESG tab.
About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise predominantly at value prices, primarily under the proprietary “The Children’s Place,” “Place” , “Baby Place”, “Gymboree” and “Sugar & Jade” brand names. The Company has online stores at www.childrensplace.com, www.gymboree.com and www.sugarandjade.com, and, as of July 31, 2021, the Company had 708 stores in the United States, Canada and Puerto Rico, and the Company’s eight international franchise partners had 208 international points of distribution in 17 countries.
Forward Looking Statements
This press release, contains or may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and adjusted net income per diluted share. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its annual report on Form 10-K for the fiscal year ended January 30, 2021. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by changes in economic conditions, the risks related to the COVID-19 pandemic, including the impact of the COVID-19 pandemic on our business or the economy in general (including decreased customer traffic, schools adopting remote and hybrid learning models, closures of businesses and other activities causing decreased demand for our products and negative impacts on our customers’ spending patterns due to decreased income or actual or perceived wealth, and the impact of the CARES Act and other legislation related to the COVID-19 pandemic, and any changes to the CARES Act or such other legislation), the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from COVID-19 or other disease outbreaks, or foreign sources of supply in less developed countries, more politically unstable countries, or countries where vendors fail to comply with industry standards or ethical business practices, including the use of forced, indentured or child labor, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, various types of litigation, including class action litigations brought under consumer protection, employment, and privacy and information security laws and regulations, the imposition of regulations affecting the importation of foreign-produced merchandise, including duties and tariffs, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact: Investor Relations, (201) 558-2400 ext. 14500
