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  "documentTitle": "Legion Partners | Activist Presentation Deck | 168 slides",
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  "presentationDate": "2019-04-01 00:00:00",
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      "text": "While it's understandable that investments would be required to compete more effectively, we believe poor execution on advertising and other digital & omnichannel investments have driven earnings power lower with little return in sales / traffic to show for it",
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      "text": "We believe unsatisfactory return on investments stems from a lack of meaningful digital expertise, underutilization of customer file data, and subpar analytical capabilities of the management team and Board",
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      "text": "Given the lack of disclosure it's challenging for shareholders to understand where additional spend is being directed - what is clear is that it has not produced commensurate increases in revenues",
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      "text": "What's Broken? SG&A has Exploded +55% Since 2011",
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