2022 Sustainability Report
CEO LETTER | ABOUT | SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||||||
Table of Contents
Letter from the CEO | 3 | Case Study: ThredUp | 15 |
About Torrid | 4 | Social Responsibility | 16 |
Our Products | 4 | Labor and Human Rights | |
Approach to Sustainability | 5 | in the Supply Chain | 17 |
Diversity and Inclusion | 19 | ||
Materiality | 6 | ||
Workplace Health, Safety | |||
Management and Oversight | 6 | ||
and Wellness | 22 | ||
Environmental Responsibility | 7 | Employee Engagement | |
Sustainable Materials Sourcing | 8 | and Development | 24 |
Chemical Management | 9 | Empowering Communities | 26 |
Packaging Impacts | 10 | ||
Energy and Carbon | 11 | ||
Waste and Recycling | 12 | ||
Water | 13 | ||
Logistics & Distribution | 14 |
Governance | 27 |
Corporate Governance | 28 |
Business Ethics and Integrity | 29 |
Risk Management | 30 |
Data Protection and Security | 31 |
About This Report | 32 |
SASB Tearsheet | 33 |
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CEO LETTER
ABOUT | SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||||||
A Letter from the CEO
I'm delighted to share with you Torrid's FY 2022 Sustainability Report, marking our ongoing commitment to incorporating environmental, social, and governance (ESG) considerations into our operations.
Over the last year, we've made significant progress in our sustainability journey, and I extend my heartfelt thanks to our dedicated team members who have been instrumental in propelling our initiatives forward.
Some highlights from our 2022 progress include:
- We conducted our first carbon footprint, covering our Scope 1 and 2 emissions. This collaborative effort from our finance, distribution, and facilities teams established a robust framework to identify relevant carbon-generating activities and set up a best in class approach to measuring our baseline. This crucial data will guide our strategies for reducing carbon emissions across our retail locations, distribution center, and corporate office.
- We engaged in a deep review of our supply chain to better understand how our vendors are managing their environmental and social risks. The goal is to harness innovative technologies to lessen the environmental impact of our products. This initiative involves thorough ESG audits, corrective actions, and training, complemented by on-site inspections of factories, mills, and wash facilities.
- Prioritizing the health and well-being of our employees remains a core focus. We introduced greater workplace flexibility, expanded mental health resources, and created more opportunities for team members to pursue their passions. These are just a few of the reasons people love to work for Torrid, and we are grateful for the more than 7,000 employees that make us who we are today.
While I am immensely proud of what we have achieved this year, I acknowledge that our journey towards sustainability is an ongoing process. We remain steadfast in our commitment to exploring every avenue with our stakeholders to further our ESG goals.
Your support and involvement are invaluable to us. Thank you for being an integral part of our journey towards a more sustainable future.
Sincerely,
Lisa Harper
Lisa Harper, Torrid CEO
CEO LETTER
ABOUT
SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||||
About Torrid
Torrid is a direct-to-consumer apparel and intimates brand in North America that provides an unparalleled fit and experience, empowering curvy women to love the way they look and feel.
Torrid designs for stylish women in sizes 10-30, and we are maniacally focused on fit, which is our customer's highest priority. Through our
e-commerce platform and our physical footprint of over 600 stores, we offer customers high quality products across a broad assortment. Our offering includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories. Our inclusive and welcoming environment drives long-standing relationships with our customers, and we serve over 3 million active customers today.
Torrid began operations in April 2001, and we opened our first store location in the Brea Mall in Brea, California. At the end of FY 2022, we operated 611 stores in 50 US States and Puerto Rico, and had an international presence of 28 stores in Canada. In addition to stores, we have a broad reaching e-commerce business that makes up the majority of our sales, and we are proud to offer a truly unified commerce model. Our inclusive and welcoming environment drives loyal relationships, as we have over 7,000 employees globally, and serve almost 4 million active customers.
OUR PRODUCTS
Apparel
We offer a broad assortment of apparel that spans across tops, bottoms, dresses, denim, and outerwear. We launch new and innovative product lines that excite our customer, including our exclusive Lovesick, Betsey Johnson, and Studio collections.
Intimates
Torrid Curve, our intimates brand, combines both comfort and sexy with an extensive collection that includes lingerie, lounge, sleep, swim, and activewear.
We deliver world-class fit across all of our products and offer patent pending technology in our most popular bras.
Accessories
We offer a compelling assortment of accessories that complement every outfit in our customer's closet. Our product line includes wide-width shoes, boots, jewelry, and other accent pieces.
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CEO LETTER | ABOUT | |
SUSTAINABILITY
ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||||
Approach to Sustainability
5 | 2022 TORRID SUSTAINABILITY REPORT |
CEO LETTER | ABOUT | |
SUSTAINABILITY
ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||||
MATERIALITY
In 2022, we completed a materiality assessment to better understand the environmental, social, and governance (ESG) issues that impact our business success and our stakeholder relationships. The process involved a peer group analysis, interviews with key Torrid executives and managers, and an analysis of sustainability reporting frameworks and industry ESG standards. We have used these results to guide the disclosures in this report.
Our top fifteen categories of focus (in alphabetical order) are:
- Business Ethics and Integrity
- Chemical Management
- Corporate Governance
- Data Protection and Security
- Diversity and Inclusion
- Employee Engagement and Development
- Empowering Communities
- Energy and Carbon
- Labor and Human Rights in the Supply Chain
- Logistics and Distribution
- Packaging Impacts
- Risk Management
- Sustainable Materials Sourcing
- Waste and Water
- Workplace Health and Safety
MANAGEMENT AND OVERSIGHT
- The Sustainability Steering Committee comprises a cross-functional group of senior leaders from finance, human resources, distribution/logistics, supply chain, merchandising, marketing, retail operations, legal, IT, and others. The Committee's role is to develop Torrid's ESG strategy and provide appropriate resources for implementation.
- The Nominating and Corporate Governance Committee (NCGC) of the Board of Directors (BOD) has oversight over Torrid's sustainability performance.
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CEO LETTER | ABOUT | SUSTAINABILITY | ||
ENVIRONMENTAL
SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||
Environmental Responsibility
Transition to low-impact raw materials
Optimize energy, waste, and water across the value chain
Rethink and reduce packaging
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CEO LETTER | ABOUT | SUSTAINABILITY | ||
ENVIRONMENTAL
SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||
SUSTAINABLE MATERIALS SOURCING
Torrid is constantly seeking ways to source renewable recyclable, recycled, and alternative materials. We do this by not only looking at
Using Data-Driven Analytics to Understand Finishing Impacts
Torrid is using Environmental Impact Measuring (EIM) software to evaluate a range of our denim products, comparing our current finishing processes to traditional finishing processes. This helps us understand where we have made improvements and where additional steps can be taken to further minimize the environmental impact of our products.
category-level impacts, such as "recycled rubber" or "organic cotton", but also at a product level.
0-33 | 34-66 | 66+ |
Low | Medium | High |
Impact | Impact | Impact |
Overall
Score
Water
Consumption
Liters of water
per garment
produced.
Energy | Chemical |
Consumption | Impact |
Energy | ZDHC MRSL |
consumed in | conformance |
one finishing | level and |
process | hazard |
Worker's
Health
Ergonomic
and risk
factors
Production | |||||||
Blue Grotto | Process | ||||||
Jeggings | |||||||
Traditional | |||||||
Production | |||||||
Process | |||||||
Chateau | Production | ||||||
Process | |||||||
Grey | |||||||
Boyfriend | |||||||
Traditional | |||||||
Jeans | |||||||
Production | |||||||
Process | |||||||
Avalon | Production | ||||||
Process | |||||||
Pull On | |||||||
Jeans | Traditional | ||||||
Production | |||||||
Process | |||||||
Production | |||||||
Blue Grotto | Process | ||||||
Lean Jean | |||||||
Traditional | |||||||
Production | |||||||
Process | |||||||
Learn more about EIM's methodology
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CEO LETTER | ABOUT | SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | ||||
Moving to Sustainable Trims
In addition to the garment itself, every piece of clothing also comes with associated "trims" - like woven labels, tags, shoe bags, carding, and wrapbands. Since 2020, we have been working with our vendors to transition to trims with more sustainable materials.
DTR Leggings | Jewelry | Shoes |
Started in 2020 | Started in 2021 | Started in 2022 |
Today, 50% of DTR leggings use | Today, 100% of Torrid's jewelry uses | Today, 100% of Torrid's shoes are sold |
wrapbands with 100% recycled | carding made from FSC-certified | |
with 100% recycled content shoebags. | ||
material. | fiber. | |
CHEMICAL MANAGEMENT
We work with suppliers to prioritize the safe use of chemicals and, where appropriate, the transition to safer and more ecologically-conscious chemicals. Surveys of our top apparel suppliers1 found that:
Suppliers that… | 2021 | 2022 | |||
Use alternatives to stones for "stone washing" fabric | 73% | 63% | |||
Use lasers for wash treatment | 42% | 53% | |||
Have switched to chemicals with less impact to the environment | 69% | 100% | |||
and human health | |||||
Use alternatives to traditional bleach | 67% | 63% | |||
Use eco-friendly or alternative dyes with less environmental impact | 62% | 100% | |||
1 See page 32 for scope and methodology of our apparel supplier survey. | |||||
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GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||
CEO LETTER | ABOUT | SUSTAINABILITY | ||
ENVIRONMENTAL
SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||
PACKAGING IMPACTS
One of our key sustainability focus areas has been reducing our packaging impact. While there is further work to do, we are pleased with the progress we have made to date.
In Our Supply Chain
- Outbound shipments from our Distribution Center to Stores are sent in boxes made of 17% recycled content
- All corrugated box shipments from our Distribution Center include at least 10% post consumer recycled content, and any virgin fiber is SFI Certified
In Our Stores
- All three sizes of Torrid's store shopping bags are made with a minimum of 40% post consumer material and are 100% recyclable
- Messaging on the bags clearly communicates recyclability to customers
e-Commerce
- Approximately 65% of our online orders are shipped to customers in polybags, which are made of 50% recycled plastic
- Approximately 35% of our online orders are shipped in corrugated cardboard boxes, which are made of 32% recycled content
- In 2022, we transitioned from non-recyclable to fully recyclable packing slips in our e-commerce packages
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Disclaimer
Torrid Holdings Inc. published this content on 17 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 April 2024 16:37:05 UTC.