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  "documentTitle": "Prestige Consumer Healthcare Inc. (PBH)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-06-30 00:00:00",
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      "text": "We have conducted a deep review of pricing pressure for PBH products (Section: Pricing Challenges)",
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      "text": "Promotional Provisioning / Gross Revenue: 8.4%",
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      "text": "PBH's financial disclosures show an increase in promotional provisioning (brand marketing, planograms, GPO fees, customer coupons) driven by growth in trade promotions. Additionally, there has been a consistent rise in the spend as a percentage of revenue for its top brands. Based on our conversion with a former PBH employee, the rise in the respective account balances may be indicative of the Company's reaction to pricing pressure.",
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      "text": "It could be indicative of price pressure for premium placement or paying large amounts of admin fees.",
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      "kind": "quote",
      "text": "\"It could be indicative of price pressure for premium placement or paying large amounts of admin fees.\" — Former PBH Manager",
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      "text": "Note: Based on provision amount for account balance\nSource: Company filings, Spruce Point analysis",
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      "text": "Financial table showing Net Revenue, Sales Returns, Trade Promotions, Coupon Redemptions, Gross Revenue, Total Promotional Provisioning, and ratios from FY2013 to FY2020.",
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