In commemoration of Earth Day, retailer ANN INC (NYSE: ANN), the parent company of Ann Taylor and LOFT, says that not only has it already met its goal two years early of reducing its "carbon footprint" by 9% by 2015 but it's doubled it. And ANN isn't done "greening" yet.
ANN announced yesterday that an analysis of its year-end 2012 results shows that it has already reduced carbon emissions by 20% compared to what it was emitting in 2008. The company explained that introduction of more energy efficient LED lighting in its nearly 400 stores, plus changing energy usage "behavior" among its associates, helped it to meet (and exceed) its goal ahead of schedule.
What's more, rather than rest on its laurels, ANN says it's doubling down on its success by setting a new 2015 goal: 30% shrinkage in its carbon footprint in comparison to 2008. In other words, that's even more than its original 8% goal and on top of the 20% improvement it's already achieved.
Investors, however, weren't particularly impressed. ANN shares traded mostly flat on Monday, losing a penny in value to close at $28.03.