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  "docSlug": "207d3ac66ddd",
  "documentTitle": "Canadian Tire Corporation (CTC.A)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-12-05 00:00:00",
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  "nDataPoints": 12,
  "notes": "The chart uses a red box to highlight the negative growth of Canadian Tire when buybacks are excluded.",
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      "text": "Canadian Tire’s core organic EPS growth is the worst among its peers, and trails the peer set average when including the effect of buybacks.",
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      "kind": "chart",
      "text": "Bar chart showing EPS growth percentages for various retailers.",
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      "text": "EPS growth: -2.0%",
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      "text": "Canadian Tire's core organic EPS growth is the worst among its peers, and trails the peer set average when including the effect of buybacks. Despite weak historical performance, the Street has 2019E EPS growth significantly above CTC's peers. We believe the Street's 2019E EPS is unattainable.",
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      "kind": "source-note",
      "text": "Source: Company financials, Wall Street estimates",
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      "kind": "title",
      "text": "CTC's EPS Growth Is Worst-In-Class When Excluding The Effect Of Buybacks",
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      "evidence": "The document provides a solution in the form of a short sell opinion, estimating a 35%-50% downside risk.",
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