Despite tough times, some retailers increase giving

Despite sales declines that have reached double digits in some cases, many corporate retailers are pulling out the stops to maintain their charitable giving, USA Today reports.

Of the 11 retailers that provided information to the Chronicle of Philanthropy for its annual report on corporate giving, which appeared in August, four—Target, Wal-Mart, Home Depot and Costco—said they planned to increase their giving, while the other seven said their giving would remain the same.

“There’s no formula that says when profits are up, giving is up and when profits are down, giving is down,” said Margaret Coady, director of the Committee Encouraging Corporate Philanthropy. “There are many factors that determine giving, including the commitment that companies have to communities and nonprofit partners.”

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