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      Lowe’s Companies Inc. (LOW) Stock Exhibits Minor Volatility Following Hurricane Ida Relief Efforts - Stocks Telegraph

      By Shimrez Hyder

      Published on

      August 31, 2021

      12:01 PM UTC

      Lowe’s Companies Inc. (LOW) Stock Exhibits Minor Volatility Following Hurricane Ida Relief Efforts - Stocks Telegraph

      Lowe’s Companies Inc. (LOW) stock prices were down 0.44% as of the market closing on August 30th 2021. This brought the price per share down to USD$204.99 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 0.20%, bringing it up to USD$205.40.

      LOW Stock Donates USD$2 Million

      August 30th 2021 saw the company announce the donation of USD$2 million towards supporting relief efforts from the damage caused by Hurricane Ida along the Gulf Coast. As per the announcement, LOW stock will donate USD$1 million to disaster relief partners, including the American Red Cross. This will serve to help organizations provide emergency shelter, food, relief, and rebuilding supplies and comfort to those affected by the natural disaster. The other USD$1 million is planned to be allocated towards supporting product donations.

      Hurricane Ida Relief Efforts

      The company has continued to serve the local communities where it has locations, with the donation further helping remedy the situation. The support to its nonprofit partners will aid the recovery and rebuilding efforts for months to come. Furthermore, the company is helping with evacuation expenses to assist associates in the hurricane’s trajectory. LOW stock will also help deploy emergency response teams, while doubling their company match through its Employee Relief Fund.

      Disaster Relief Buckets

      LOW stock plans to host bucket brigade events in the hardest-hit areas to distribute essential clean up supplies for free to local residents. The company has distributed nearly 2,000 disaster relief buckets across the nation in an effort to help the recovery of affected communities. These buckets were assembled over the Summer by associates at the company’s distribution centers.

      LOW Stock’s Employee Assistance

      The company is also allocating resources towards assisting its associates circumvent the challenges brought on by the hurricane. LOW stock has pledged up to USD$500 for associates with emergency needs related to the cost of evacuation and preparation expenses. The Lowe’s Employee Relief Fund is also being expanded in an effort to increase the scope of financial assistance available. The doubling of the company’s match will now see USD$2 for every dollar an employee donates.

      Future Outlook for LOW Stock

      LOW stock’s involvement in its communities reflects its core value of inclusive integration. The company is set to recover financially from the unexpected expenses incurred as a result of Hurricane Ida, with the help of the improvement of its brand image following its relief efforts. Investors are hopeful this consolidates the company’s brand loyalty and translated into organic growth over the long term.

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