Retail building products chain Lowe’s (NYSE:LOW) aims to do well by doing good.
Recovering from the destruction left in the wake of Hurricane Helene remains an uphill challenge for many communities in Western North Carolina, even six months after landfall. As a part of Lowe's commitment to help communities in need, Lowe's today announced a $2-million investment to continue its support of disaster recovery efforts, including an additional $1 million to build temporary homes that are urgently needed in some of the most rural parts of Lowe's home state.
Since Hurricane Helene made landfall, Lowe's has deployed its red vest associate volunteers and supported first responders, nonprofit organizations and small businesses to help both immediate and long-term needs across the impacted area. Including the announcement today, Lowe's has invested nearly $14 million in Hurricanes Helene and Milton response and recovery efforts.
"There's been ongoing progress toward recovery in the mountain communities devastated by Helene. However, we know many of our neighbors still face enormous challenges," said CEO Marvin Ellison. "Lowe's is committed to supporting recovery efforts by investing in solutions, like skilled trades education, that can accelerate the region's recovery while also helping those in need now."
LOW stock moved lower 36 cents Thursday to $231.69.
