{
  "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": 9,
  "pageCount": 64,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "other",
  "function": "establish_context",
  "density": "dense",
  "nDataPoints": 5,
  "notes": "The chart uses a non-linear time axis to show growth milestones.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_vertical",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-6ef5b0d488b8/9",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-6ef5b0d488b8#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.057,
        "w": 0.257,
        "x": 0.206,
        "y": 0.493
      },
      "kind": "callout",
      "text": "Sales boomed in JCP's early years",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1f78d705-4087-42d5-8f24-123df03c42d6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.6,
        "x": 0.2,
        "y": 0.5
      },
      "kind": "chart",
      "text": "Sales growth from 1925 to 1968",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "12fc5495-a948-4cfe-82be-0a5b0bf649e2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.85,
        "x": 0.11,
        "y": 0.21
      },
      "kind": "list",
      "text": "JCP's early success was largely due to its founder's innovations: Fair Prices – “Golden Rule”, no haggling; Aligned Management Incentives – Store managers were allowed to buy a 1/3rd stake in their store; Great Products – Imported popular East Coast product to the West",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "392e858c-c64c-4f86-8c9d-09cba0805254",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Sales: $3bn",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-25b7-709e-b8d3-ca388e2af429",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.07,
        "y": 0.925
      },
      "kind": "source-note",
      "text": "Source: Company Data",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "24656e4c-84cf-4220-a50b-0188e4b1e1d2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Origins of Initial Success",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "116ba113-1bfa-4b22-8a31-f1e7f8032581",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "38e737cc-4c26-4685-9209-eb385615be30",
      "evidence": "Comparison of JCP's early success and later struggles",
      "confidence": 0.6
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}