{
  "docId": "019dd923-622c-750b-8b9b-6ef5b0d488b8",
  "docSlug": "b900606b2182",
  "documentTitle": "J.C. Penney Company, Inc. (JCP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-16 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 40,
  "pageCount": 64,
  "prevPage": 39,
  "nextPage": 41,
  "slideType": "propose_solution",
  "function": "present_solution",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The chart uses a qualitative line graph to illustrate a business turnaround strategy.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-6ef5b0d488b8/40",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8#slide-40",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.08,
        "y": 0.22
      },
      "kind": "callout",
      "text": "Sales are under pressure today, but we believe better product from existing new brands and the shop build-out will lead to meaningful sales growth",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a4f4680a-f73b-4ead-a620-ef097ff35bc3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.75,
        "x": 0.13,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Forecasted Sales Progression (illustrative)",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c8f658c-8e72-4dc1-a60c-f10dd62c77d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Seasonally Adj. Monthly Sales",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-25b7-709e-b8d6-505c87f0ac81",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.88,
        "x": 0.06,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "Note: This illustration is not intended to communicate specific rates of sales growth but rather only to illustrate Pershing Square's expectations based on its estimates and anticipated trends",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "47565f66-2a54-4a0c-aea1-d0363cfa8928",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "How We Expect Sales To Develop",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4615540-99d2-461f-88bd-8c9c50aa53af",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "8ee610bd-5589-4165-b9c1-cab015454920",
      "evidence": "The slide contrasts current 'pressure' with future 'meaningful sales growth' via a strategic roadmap.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 28,
      "beatId": "41118055-ffae-4372-95b9-fe0ceb260b9c",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document presents a detailed plan for J.C. Penney's turnaround",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}