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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": "list",
      "text": "Convenience: Lowe's has ~1,750 stores across 50 U.S. states",
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      "text": "One-Stop Shopping: Home improvement purchases are typically project-oriented (e.g., bathroom remodel); Consumers buy across categories (paint, plumbing, flooring, etc.) making one-stop shopping ideal; Home centers' big-box layout allows for ~40,000+ SKUs; Product selection can't be matched by general merchandise retailers",
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      "text": "Why Do Consumers Shop at Home Centers?",
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