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ATLANTA, September 22, 2004 – The Home Depot®, the world’s largest home improvement retailer, announced today that it will donate $3 million to aid in the rebuilding efforts of communities in Florida and other areas that have been battered by Hurricanes Charley, Frances and Ivan.
In the wake of an unprecedented string of severe storms this hurricane season that have resulted in billions of dollars in damage, The Home Depot will provide donations of tools, supplies and grants that will aid the repair and rebuilding efforts throughout the entire impacted region.
The company will donate $1 million to the Volunteer Florida Foundation’s Hurricane Relief Fund, which was established by Governor Jeb Bush to aid Florida residents ravaged by the recent storms. In addition, the company will donate $2 million to the Neighborhood Reinvestment Corporation, the Corporation for National and Community Service, and other nonprofit organizations that support housing and revitalization efforts. These donations are in addition to recent financial and in-kind contributions already made by the company and its employee assistance fund to the American Red Cross, Salvation Army and local relief organizations, bringing total relief contributions to nearly $4 million to date.
“The Home Depot has worked hard to help our customers prepare for the recent weather emergencies, and now we are committing an unprecedented level of financial support, materials and people to help rebuild communities and lives,” said Bob Nardelli, chairman, president & CEO of The Home Depot. “We are proud to contribute a portion of our pre- and post-hurricane sales to the rebuilding efforts in the communities that we serve.”
“We greatly appreciate the leadership role The Home Depot is taking in helping the citizens of our state,” said Governor Bush. “The devastation caused by these storms has been extremely far-reaching, and help from The Home Depot will greatly assist those with immediate needs in the weeks ahead.”
“Repair and recovery will take months for many residents affected by the hurricanes. The Home Depot’s generous donation will enable our NeighborWorks organizations in the affected regions to support the long-term recovery effort facing so many people,” said Ken Wade, chief executive officer, Neighborhood Reinvestment Corporation.
The organizations supported by The Home Depot will determine how the money is allocated in specific communities, with priority given to those in greatest need.
In addition to materials, supplies and financial contributions, The Home Depot has activated Team Depot, its store-based volunteer network, to assist in the storm cleanup and rebuilding efforts. Team Depot associates will begin work on Saturday, October 2 as they repair a YMCA in Orange County and a Girl Scout facility in Seminole County. Dozens of similar rebuilding efforts are planned over the next 18 months.
Since Hurricane Charley, The Home Depot has mobilized supplies and associates as never before to meet the needs of its customers. Thousands of truckloads of lumber, generators, tarps and other products have been moved into impacted areas over the past few weeks. In addition, more than 2,000 associates from outside the affected areas have volunteered to relieve their co-workers. The Homer Fund, an emergency assistance effort established to help The Home Depot associates, has provided temporary housing to associates made homeless by the storms and has issued more than 850 financial grants totaling more than $400,000 to those associates in greatest need.
Individuals in Florida affected by the recent storms can contact the Volunteer Florida Foundation at 1 (800) FLhelp1. Individuals in other impacted areas can contact the Corporation for National and Community Service at (877) 979-6200.
Founded in 1978, The Home Depot is the world’s largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2003 sales of $64.8 billion. The company employs approximately 300,000 associates and has 1,806 stores in 50 states, the District of Columbia, Puerto Rico, eight Canadian provinces and Mexico. The company recently announced the creation of a business development operation for retail expansion into China. Its stock is traded on the New York Stock Exchange (NYSE:HD) and is included in the Dow Jones Industrial Average and Standard & Poor's 500 Index.
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