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  "documentTitle": "Lowe's Companies, Inc. (LOW)",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2011-11-08 00:00:00",
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      "kind": "callout",
      "text": "Lowe’s level of same-store sales growth has underperformed Home Depot’s for eight out of the last ten quarters",
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      "text": "Lowe's level of same-store sales growth has underperformed Home Depot's for eight out of the last ten quarters",
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      "text": "Strength of HD’s current operational execution; Strong regional-level merchandising; Post Bob Nardelli, invigorated management team under CEO Frank Blake; Lowe’s product mix is more discretionary than Home Depot’s; Home Depot currently doing well with the basic repair customer versus Lowe’s more fashion-oriented customer",
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      "text": "Same-Store Sales Growth table comparing Lowe's and Home Depot from Q1 '09 to Q2 '11",
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      "kind": "title",
      "text": "...But Now LOW is the Underperformer",
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