{
  "docId": "019de06f-cf3f-750e-9bf3-5c34169235bc",
  "docSlug": "b7c4365f9e39fbf1d5df6a9d012af66b",
  "documentTitle": "Legion Partners | Activist Presentation Deck | 168 slides",
  "authorId": "legion-partners",
  "authorName": "Legion Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-04-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 80,
  "pageCount": 121,
  "prevPage": 79,
  "nextPage": 81,
  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 12,
  "notes": "The slide uses a dual-chart comparison to highlight the divergence between rising costs and stagnant productivity.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-cf3f-750e-9bf3-5c34169235bc/80",
  "deckHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc",
  "deckJsonHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc.json",
  "deckAnchorHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc#slide-80",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "callout",
      "text": "SG&A investments aren't driving increased sales or customer traffic",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7b582d0c-e8ef-48dd-9a84-77e545aba9c3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.05,
        "y": 0.38
      },
      "kind": "chart",
      "text": "Sales per Employee",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bbcf1108-f28f-4759-82d7-76611d1922b8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.52,
        "y": 0.38
      },
      "kind": "chart",
      "text": "SG&A (excluding D&A and Rent) per Employee",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ce2dcce0-f946-4128-8cce-3c6e3859d3cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "list",
      "text": "During this period of tremendous SG&A investment, few resources were likely funneled to customer facing initiatives\nInflated executive compensation, consultant fees, and corporate headcount expansion and other “non-working” spend appear to have accelerated productivity declines\nThe Investor Group would rather see investments in store associate training and data analytics",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0578fe92-bdd1-4db4-94ae-3107c79c6166",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.05,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: SEC Filings",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c5355a57-38ef-4344-9ecd-bb6749f02263",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "What's Broken? SG&A Investments Yielding Little Benefit",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5bf55f5d-57e6-480b-a989-1b50a58c9928",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "diagnostic-test",
      "slug": null,
      "matchId": "90b36f4b-8b3c-4d44-8ac3-f1160ee7fc10",
      "evidence": "The slide identifies a problem (stagnant sales) and links it to a root cause (inefficient SG&A spend).",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 90,
      "from": 6,
      "beatId": "edbf4f0c-6d27-47fb-8355-75d9a1065e77",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "Detailed analysis of the company's problems.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 83,
      "from": 54,
      "name": "Mece Breakdown",
      "slug": "40-mece-breakdown",
      "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
      "matchId": "2b5e27cf-58a8-441e-88e3-6116c3a9dd58",
      "evidence": "Detailed analysis of the company's problems.",
      "position": 1,
      "objective": "Break down the problems into manageable parts.",
      "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
      "confidence": 0.6,
      "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}