{
  "docId": "019dd923-622c-750b-8b98-898f7b790f90",
  "docSlug": "ecb6f6c63e11",
  "documentTitle": "Dollarama Inc. (DOL)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-10-31 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 39,
  "pageCount": 53,
  "prevPage": 38,
  "nextPage": 40,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "Uses maps to show geographic concentration vs. competitor spread, and a table to show the scale of related-party payments.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "map",
    "data_table",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-898f7b790f90/39",
  "deckHref": "/decks/019dd923-622c-750b-8b98-898f7b790f90",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-898f7b790f90.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-898f7b790f90#slide-39",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.72,
        "y": 0.7
      },
      "kind": "callout",
      "text": "No Dollarama distribution facilities located outside of a ~4 mile radius in Montreal. Due to preferential relationship with Rossy family? Will Dollarama be able to expand into Anglo/Western Canada efficiently without logistics costs ballooning?",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0c48ddce-2bf7-40df-a226-c3353013c311",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "No Dollarama distribution facilities located outside of a ~4 mile radius in Montreal",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-5376-7749-9ede-8d1ec3a01d2d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.05,
        "y": 0.7
      },
      "kind": "chart",
      "text": "Dollarama Distribution Centers And Warehouses",
      "attrs": null,
      "subkind": "map",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "666ce5f7-55af-4c30-85d8-9f77bdcf7411",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.05,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Dollar Tree Canada Distribution Centers",
      "attrs": null,
      "subkind": "map",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b80b61d2-4a1e-4a49-8c50-c28f78665ca9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Rent & Land Purchases Paid to Rossys: $39.4",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-5376-7749-9ede-92596be93fa8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "As noted, Dollarama leases all but one of its five warehouses from the Rossy family, and recently purchased land from the Rossys for the construction of a sixth. Management also recently purchased its Montreal distribution center from the Rossy family...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "911e8adc-0c6e-46fa-b08b-bdb995548d49",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.52,
        "y": 0.35
      },
      "kind": "table",
      "text": "Related-Party Transactions Significant And Growing",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f2016612-47e3-40d0-8a7a-ae838d5dd7b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.02
      },
      "kind": "title",
      "text": "Related-Party Transactions With Rossy Family Raise Questions Over Governance And Costs",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d2f5bc3-8c2d-408c-bb4b-d496e6551eed",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "governance",
      "slug": null,
      "matchId": "150ffb52-22cd-4fc6-919e-be97d019f3b4",
      "evidence": "Focus on related-party transactions and potential conflicts of interest.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}