{
  "docId": "019dd923-622b-71dc-a6db-c1be3336de12",
  "docSlug": "06bee195e08c",
  "documentTitle": "Buffalo Wild Wings (BWLD)",
  "authorId": "07_Marcato",
  "authorName": "Marcato",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2016-06-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 21,
  "pageCount": 48,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "dense",
  "nDataPoints": 44,
  "notes": "The slide uses a dual-component approach: a line chart for stock performance and a data table for operational metrics.",
  "elementsJson": [
    "headline_text",
    "line_chart",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-c1be3336de12/21",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12#slide-21",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Following a sustained period of strategic refranchising, JACK's shares have outperformed the industry",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6eb-753a-a38f-fd6036993651",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.85,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "chart",
      "text": "JACK IN THE BOX INDEXED STOCK PRICE PERFORMANCE | 2006 - 2016",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "08b13758-0000-4dc8-a165-19ae976e4e49",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Franchise Mix: 314%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-e6eb-753a-a390-02720cb2a90a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Company filings, Bloomberg. Franchise mix as of fiscal year end for each period. Average EV / EBITDA refers to the mean multiple for the period as shown on the graph.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "05959ba4-d8f8-40b4-8a58-3d215c44dc9c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.85,
        "x": 0.05,
        "y": 0.65
      },
      "kind": "table",
      "text": "Table showing Franchise Mix, Avg. EV/EBITDA, EBIT Margin, and Period-End Share Count from 2006 to 2016",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d23fdd25-03d8-4d34-a35d-24797f774d55",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.7,
        "x": 0.05,
        "y": 0.19
      },
      "kind": "title",
      "text": "Following a sustained period of strategic refranchising, JACK's shares have outperformed the industry",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a40d67be-dffa-4633-bd99-8e643e3b8757",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.8,
        "x": 0.05,
        "y": 0.12
      },
      "kind": "title",
      "text": "REFRANCHISING CREATES SHAREHOLDER VALUE: JACK IN THE BOX CASE STUDY",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6494f71e-72a9-424c-9f44-dfc4b7c84db4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "f167c171-d0f9-4f8e-aadc-76abb305e230",
      "evidence": "The slide contrasts the 2006 baseline with the 2016 outcome to demonstrate the value of refranchising.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 26,
      "from": 16,
      "name": "Tale Two Worlds",
      "slug": "04-tale-two-worlds",
      "bestFor": "Competitive analysis, benchmarking, case for change",
      "matchId": "4e8b58cb-755b-4de4-b759-fba778cfdfc5",
      "evidence": "Comparison of growth, profitability, and capital efficiency",
      "position": 0,
      "objective": "Comparing company-owned and franchised business models",
      "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"
    },
    {
      "to": 23,
      "from": 21,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "4a2667da-003f-4eaa-ba21-e4a82bd7dab7",
      "evidence": "Case studies of Jack in the Box, Burger King, and Domino's Pizza",
      "position": 1,
      "objective": "Showing the benefits of refranchising",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}