Earlier this year, Ellison said Lowe's spending on employee compensation had increased by $3 billion since 2018, and would grow by another $1 billion over the next three years.
The National Retail Federation estimates shrink topped $94 billion in 2021, which would put this year's figure well north of $100 billion if the rate remains the same or increases.
Jahi Chikwendiu/The Washington Post via Getty Images
