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  "documentTitle": "Deckers Outdoor Corporation (DECK)",
  "authorId": "07_Marcato",
  "authorName": "Richard T. McGuire III",
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  "presentationDate": "2017-11-01 00:00:00",
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  "notes": "The slide uses a peer company (WWW) as a precedent to validate the activist's proposed strategy for the target company.",
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      "kind": "callout",
      "text": "\"WWW Puts Margin Run-rate Target In-sight nearly 12 mos. Ahead of Plan\" - Stifel 11/8/17",
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      "text": "WWW's margin target is only 100bps lower than Deckers' despite having a gross margin that is over 800bp lower",
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      "text": "Value Creation Plan details including margin targets, retail footprint reduction, capital structure optimization, and supply chain streamlining.",
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      "text": "Source: Company Filings, Wall Street research. See appendix for footnotes.",
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      "text": "PROXY PEER WOLVERINE WORLDWIDE (WWW) HAS EXECUTED AGAINST ITS PLAN",
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