{
  "docId": "019dd923-622b-71dc-a6db-ad37d5373ee7",
  "docSlug": "ae865eb75860",
  "documentTitle": "Dillard's, Inc. (DDS)",
  "authorId": "07_Marcato",
  "authorName": "Marcato",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 8,
  "pageCount": 11,
  "prevPage": 7,
  "nextPage": 9,
  "slideType": "valuation_table",
  "function": "analyze_data",
  "density": "sparse",
  "nDataPoints": 42,
  "notes": "The slide illustrates a classic OpCo/PropCo split, showing the impact on EBITDA, margins, and leverage ratios.",
  "elementsJson": [
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  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-ad37d5373ee7/8",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-ad37d5373ee7#slide-8",
  "components": [
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA: $841",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
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      "componentId": "019dd953-25b4-767c-9bf1-45b1a8657e62",
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      },
      "kind": "source-note",
      "text": "Source: Marcato estimates (1) Net Corporate G&A includes construction operating expenses, service charges and other income (2) Rent expense capitalized at 8x",
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      "kind": "table",
      "text": "Combined (2015E) = PF OpCo + PF PropCo financial data",
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      "kind": "title",
      "text": "PRO FORMA FINANCIALS",
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      "evidence": "The slide explicitly models the separation of a business into OpCo and PropCo entities.",
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      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck presents a clear solution and provides relief by outlining the potential benefits of an OpCo/PropCo transaction.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
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  "loops": [
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      "name": "Tale Two Worlds",
      "slug": "04-tale-two-worlds",
      "bestFor": "Competitive analysis, benchmarking, case for change",
      "matchId": "657ac6ce-77cf-450f-8e09-818e222f0ed4",
      "evidence": "The deck presents a clear contrast between Dillard's current structure and the potential benefits of an OpCo/PropCo transaction.",
      "position": 0,
      "objective": "To contrast Dillard's current structure with the potential benefits of an OpCo/PropCo transaction.",
      "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication",
      "confidence": 0.7,
      "description": "Show the gap between two states to drive urgency or highlight opportunity"
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