{
  "docId": "019dd923-622b-71dc-a6d9-b7733990b4fe",
  "docSlug": "9c639b8b1898",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-03-31 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 10,
  "pageCount": 108,
  "prevPage": 9,
  "nextPage": 11,
  "slideType": "expose_contradiction",
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  "density": "dense",
  "nDataPoints": 7,
  "notes": "Uses yellow arrows to emphasize the downward trend in performance metrics.",
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  "slideHref": "/slides/019dd923-622b-71dc-a6d9-b7733990b4fe/10",
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  "components": [
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        "h": 0.35,
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        "x": 0.84,
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      "kind": "callout",
      "text": "Red Lobster's key operating metrics continue to get worse. This trend will create difficulties for standalone Red Lobster (\"New Red Lobster\") management, who will need to turn around the brand in the public spotlight",
      "attrs": null,
      "subkind": "primary",
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      "kind": "chart",
      "text": "Traffic growth decline",
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      "kind": "chart",
      "text": "Same-store-sales growth decline",
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      "text": "EBITDA margin decline",
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      "text": "Same-store-sales growth: (8.8%)",
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      "kind": "paragraph",
      "text": "Given Red Lobster's significant underperformance and temporary commodity price headwinds, we question why management appears to be rushing a separation.",
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      "kind": "source-note",
      "text": "Source: Company filings and Wall Street equity research.",
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      "kind": "title",
      "text": "After owning Red Lobster for decades, why is now the right time to rush through a separation, especially in light of objections from some of the Company's largest shareholders?",
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      "kind": "title",
      "text": "Timing concerns: We seriously question why management appears to be in such a rush to separate Red Lobster",
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      "position": 0,
      "objective": "To question management's logic for the Red Lobster separation",
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