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  "docSlug": "107b8759d6ac",
  "documentTitle": "Lowe's Companies, Inc. (LOW)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
  "documentKindSlug": "conference-presentation",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2011-11-08 00:00:00",
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  "notes": "The slide includes a footnote clarifying that Home Depot figures represent the entire company due to inconsistent U.S.-only disclosure.",
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      "kind": "callout",
      "text": "Lowe's level of same-store sales growth outpaced Home Depot's each year from 2001 to 2008",
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      "text": "Note: Home Depot same-store sales growth figures are for the entire company only, as Home Depot did not consistently disclose U.S.-only same-store sales growth figures during the period from 2000 to 2008.",
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      "text": "Same-Store Sales Growth table comparing Lowe's and Home Depot from 2000-2008",
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      "kind": "title",
      "text": "LOW Outperformed HD for Most of the Last Decade...",
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      "evidence": "The presentation identifies the problem of Lowe's underperformance compared to Home Depot.",
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