{
  "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": 249,
  "pageCount": 294,
  "prevPage": 248,
  "nextPage": 250,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "balanced",
  "nDataPoints": 2,
  "notes": "Includes a reference to previous slides 254-255.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bullet_list",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-dad126beff94/249",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94#slide-249",
  "components": [
    {
      "bbox": {
        "h": 0.07,
        "w": 0.92,
        "x": 0.04,
        "y": 0.82
      },
      "kind": "callout",
      "text": "Franchising select markets will create a more efficient operating model",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9b461cef-9e58-4830-97df-3f86e95c1ef5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.92,
        "x": 0.04,
        "y": 0.28
      },
      "kind": "list",
      "text": "Lack of store density\n- While total scale is an important advantage in operating performance, local market density can be just as important – operating a modest number of stores within a well-defined geographic cluster can be more efficient than operating a large number of stores spread out over disparate geographies.\n- Although Darden is the largest casual dining operator in the world, it still has numerous markets in which it lacks sufficient local market density to maximize performance.\n- Rather than committing capital to expand in these markets or exiting them, Darden can sell them to a franchisee who already operates a critical mass of restaurants across a number of brands in those markets.\n- As part of any agreement, the franchisee would commit to developing new restaurants in the market, providing additional capital to Darden in the form of franchise fees and a continuing source of revenue and profit growth.\n- As discussed on slides 254-255, we have identified a preliminary list of 6 markets for Olive Garden and 12 for LongHorn that may be strong candidates for franchising.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "23ce0eb5-8494-4bbb-9d6f-89d1fd2154c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "A common and successful tactic is to franchise select markets where a corporation is not performing well due to lack of local store density or local market expertise.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "733a3385-4edb-4619-965b-f866356d07ab",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.04
      },
      "kind": "title",
      "text": "Franchising can solve operational challenges while providing financial benefits",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e301b7b7-62f2-4c95-8514-cbec489b05ed",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Problem Statement Canvas",
      "slug": "problem-statement-canvas",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "5a3f4136-3b30-4b8a-b97c-aaef3fd0c9ca",
      "evidence": "list/bullet: Lack of store density - While total scale is an important advantage in operating performance, local market density can be just as important – operating a modest number of stores within a well-defined geograp",
      "confidence": 0.6
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}