Wal-Mart to Donate $20M for Hurricane Harvey Relief
Wal-Mart Stores Inc. has committed up to $20 million to areas impacted by Hurricane Harvey, which made landfall in Texas last weekend. "Our Texas family of customers and associates are experiencing devastating impact from this storm," Wal-Mart President and CEO Doug McMillon said in a statement on Wed., Aug. 30. "We are on the ground to help our friends and neighbors in the Gulf region and we'll continue to be in the tough days, weeks and months ahead." Wal-Mart will also match any customer donation it gets two to one of up to $10 million in cash and products to support the American Red Cross Disaster Relief.
Total Retail’s Take: Before Harvey even touched down, Wal-Mart committed $1 million in cash and product donations to Texas and Louisiana. Analysts forecast that retailers may lose up to $1 billion from the impact of Hurricane Harvey, so it's great to see the industry coming together to help the victims, regardless of profits and sales.