Home Depot Foundation increases disaster relief
The foundation has added another $1 million in aid after Hurricane Michael.
Following the devastation caused by Hurricane Michael, The Home Depot Foundation said it has increased its financial support to $4 million for associates, customers and communities impacted by storm and other recent disasters.
Last month the foundation increased its pledge for disaster relief to $3 million following Hurricane Florence.
“Our thoughts are with everyone who has been impacted by Hurricane Michael,” says Shannon Gerber, executive director of The Home Depot Foundation. “We’re currently working closely with our nonprofit partners to assess the impact of this unprecedented storm to determine how we can best help the community recover immediately and over the coming weeks and months.”
The latest move by The Home Depot Foundation adds to funding provided to nonprofit partners for other disasters throughout 2018, Florence, Hurricane Olivia, the California wildfires and flooding in the Midwest. The Foundation will continue to serve those impacted in these areas, while broadening support to include the Gulf Coast region.
Earlier this year, The Home Depot Foundation provided more than half a million dollars to Operation Blessing and Convoy of Hope to stock their warehouses for the 2018 disaster season.
The warehouses in Florida were activated earlier this week to prepare for Hurricane Michael’s landfall. In spring 2018, the Foundation also granted $2 million dollars to Team Rubicon and American Red Cross to fund their disaster relief and recovery efforts.
The Homer Fund, the company’s employee assistance program, is also providing emergency financial assistance to associates who have been affected by the latest tragedy.
To foundation said those who want to donate to American Red Cross for those impacted by recent storms can visit bit.ly/THDgive.
Lowe’s, which had thousands of employees impacted by Florence, also recently increased its funding for disaster relief to $4 million following the impact of Michael.
HBSDealer Stock Watch: Thursday’s Bears
|Hardware and building supply stocks posted another down day on Wall Street. Most of the 30 stocks tracked below finished the day lower.|
|BLDR (Builders FS)||13.37||-0.82%|
|BMCH (BMC Stock)||17.49||-1.24%|
|CENT (Central Garden)||34.30||-0.32%|
|DE (Deere & Co.)||146.47||-0.67%|
|HD (Home Depot)||189.74||-2.04%|
|LL (Lumber Liquidators)||13.71||-1.22%|
|SMG (Scotts Miracle-Gro)||73.24||-3.15%|
|TSCO (Tractor Supply)||85.23||+0.48%|
|UFPI (Universal Forest)||32.90||-3.55%|
Lowe’s doubles down on hurricane assistance
The retailer is donating another $2 million in disaster relief.
Following the path of destruction Hurricane Michael cut through the Florida Panhandle region, Lowe’s Home Improvement has pledged $2 million in disaster relief support for associates, customers and communities impacted by the devastation.
The move increases Lowe’s 2018 hurricane aid to $4 million.
Lowe’s said it plans to work with nonprofit partners and government agencies to deploy the additional $2 million committed to short-term relief and long-term recovery needs.
The Mooresville, N.C.-based retailer has immediately donated $250,000 to the American Red Cross for disaster relief efforts. Funds will support disaster response, including the support of evacuation centers and shelters for thousands of displaced residents and mobilization of volunteers and relief supplies, Lowe’s said.
Lowe’s donation to disaster relief helps Red Cross in providing safe shelter and critical supplies, including blankets, hygiene kits, food and water. The company has also activated its American Red Cross Disaster Relief customer donation program on Lowes.com.
“Even before a natural disaster strikes, our focus is on the safety and well-being of our associates, customers and communities,” said Marvin Ellison, Lowe’s president and CEO. “Before, during and after a disaster, we are committed to helping residents of the communities we serve, and today’s commitment starts by providing a safe shelter and critical supplies for our thousands of neighbors impacted by the devastation.”
Before the storm, Lowe’s worked to deliver the right products as quickly as possible and to help store teams make emergency preparations. Lowe’s Emergency Command Center expedited nearly 400 truckloads of needed supplies, including generators, bottled water, sand, plywood, chainsaws, trash bags, gas cans and tarps.
“After any storm makes landfall, we transition to mobilizing our Employee Relief Teams who volunteer to be deployed to the hardest-hit areas so that impacted associates can focus on their families’ needs. More than 100 Lowe’s associates stand poised to deploy to areas impacted most by Hurricane Michael,” Ellison added.
Lowe’s said it will further support affected associates by doubling the company’s match to the Lowe’s Employee Relief Fund, which provides financial assistance in times of crisis. Since it was established in 1999, the fund has helped more than 30,000 associates by providing more than $35 million in financial aid, the company said.