ALBANY, N.Y. (AP) - New York’s comptroller has withdrawn a shareholder proposal calling for new annual reporting by Guess? Inc. with the clothing maker agreeing to disclose efforts dealing with environmental and workplace safety risks in its supply chain.
Comptroller Thomas DiNapoli, sole trustee of New York’s $176 billion pension fund for public workers, says that by agreeing to publish so-called sustainability reports, the company is taking steps to protect investors as well as those who make products that carry its label.
The fund owns about 180,600 shares of the company valued at about $4.9 million.
The company has more than 500 stores in the U.S. and 87 in other countries.
The first report due by Dec. 31 is expected to describe its approach and practices in environmental, social and governance issues.
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