ATLANTA, Sept. 2 /PRNewswire-FirstCall/ -- The Home Depot(R), the world's largest home improvement retailer, today announced it has donated $300,000 to the American Red Cross for Hurricane Gustav relief efforts along the Gulf Coast and for preparation efforts for impending storms Hanna, Ike and Josephine throughout the Southeastern U.S.
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"Our neighbors in the Gulf Coast need our help," said Jeff Towers, chief development officer at the American Red Cross. "The Home Depot responded to this call, enabling the Red Cross to provide care, comfort and compassion to the people affected by Hurricane Gustav and future storms. I want to thank The Home Depot Foundation for using the Red Cross as their conduit of compassion."
Separately, The Homer Fund, a charity for The Home Depot associates in need of emergency financial assistance, donated $500,000 to 650 associates and their families within the first 48 hours of Gustav's landfall. On Saturday, volunteers from the Company activated the Homer Fund call center to respond to and assist impacted associates with their immediate needs of safe housing and other daily essentials.
"I am extremely proud of The Home Depot and what our associates have done to help our communities, as well as each other," said Marvin Ellison, executive vice president of U.S. Stores. "We take great pride in being there for our communities during tough times, and we are committed to helping these recovery efforts."
The Home Depot closed 31 stores in Louisiana, Mississippi and Texas in accordance with mandatory evacuations as a result of Hurricane Gustav. As of this afternoon, 19 stores have been reopened. In an effort to give affected associates the time they need following the storm, the Company has brought in relief workers to help staff the stores in the affected areas. Thus far, the Company has coordinated the transport and lodging for nearly 400 relief associates.
The Home Depot(R) is the world's largest home improvement specialty retailer, with 2,259 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China. In fiscal 2007, The Home Depot had sales of $77.3 billion and earnings from continuing operations of $4.2 billion. The Company employs more than 300,000 associates. The Home Depot's stock is traded on the New York Stock Exchange and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
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