{
  "docId": "019dd923-622c-750b-8b9c-dad126beff94",
  "docSlug": "416ab93b6285",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 181,
  "pageCount": 294,
  "prevPage": 180,
  "nextPage": 182,
  "slideType": "cite_precedent",
  "function": "cite_precedent",
  "density": "overcrowded",
  "nDataPoints": 5,
  "notes": "The slide uses a 'L.I.V.E.' mnemonic to summarize the success factors.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-dad126beff94/181",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94#slide-181",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.83
      },
      "kind": "callout",
      "text": "Keys to casual dining success: LEADERSHIP – INNOVATION – VISION – EXECUTION (L.I.V.E.)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "524bb458-9427-4467-888a-8fdf84da7ebd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.59
      },
      "kind": "list",
      "text": "Same-store-sales growth: By continually innovating with a focus on providing an authentic Italian dining experience with a truly unmatched value equation, Olive Garden drove same-store-sales to record highs.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e8e8ce5-dc74-4c20-98ef-d392978a0dee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.68
      },
      "kind": "list",
      "text": "Operational efficiency: “Brilliant with the Basics” mantra with a relentless focus on great tasting food, superior service, and best-in-class value through flawless execution – vastly improved overall margins and efficiency.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "27d16ee5-f9ac-4eb7-a20b-a30757a4d9ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.77
      },
      "kind": "list",
      "text": "Massive stock price outperformance: Over 200% stock price growth, vastly outperforming the broader market.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "935fc561-f42c-495d-a399-192a4d41b379",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.92,
        "x": 0.04,
        "y": 0.37
      },
      "kind": "list",
      "text": "Brad Blum, along with Bob Mock transformed Olive Garden from the brink of extinction to achieve 57 consecutive quarters of same-restaurant-sales increases. Increased average annual sales per restaurant from $2.5M to $4.0M. Increased operating profits by hundreds of millions.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b3585ac1-bc69-48c1-b5e2-3ba49eb9b278",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.23
      },
      "kind": "list",
      "text": "Olive Garden was founded in 1982. It was initially successful, but by the early-1990s the brand was underperforming and in need of a new direction. Same-store-sales were down 12% and the brand was barely profitable.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c0538941-1cd0-4cbe-bf29-769cfb8f4fee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "same-restaurant-sales increases: 57",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb95-7708-ad4f-7742251af6d3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Olive Garden's record performance as a casual dining leader in the 1990s and early-2000s was driven by the vision and operational execution of Brad Blum and Bob Mock, two of our advisors.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0b4ea722-1f1c-4dbb-8a5f-d72641f22d5c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“Brilliant with the Basics” mantra with a relentless focus on great tasting food, superior service, and best-in-class value through flawless execution",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-fb95-7708-ad4f-729f2b3889df",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.82,
        "x": 0.04,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "(1) By putting a strong foundation in place, Olive Garden achieved 29 consecutive quarters of same-store-sales growth during Mr. Blum's tenure...",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "303192ca-9845-4a7e-a6b4-e9f3097485c6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Olive Garden's first successful turnaround",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9bfa8192-ad5d-4d41-b354-41f89a8a8dc4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "mnemonic",
      "slug": null,
      "matchId": "8379be8b-36e9-4908-b419-f0d05362708f",
      "evidence": "L.I.V.E. acronym used to summarize success factors",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}