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  "docId": "019de06f-cfd5-75da-b721-77fc7ae27bc4",
  "docSlug": "f8de622bfe6afe2a77d0d6b7bfd1df22",
  "documentTitle": "Legion Partners | Activist Presentation Deck | 14 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",
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  "pageNumber": 6,
  "pageCount": 14,
  "prevPage": 5,
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  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "Includes a trend line overlaying the bar chart to emphasize the decline.",
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  "slideHref": "/slides/019de06f-cfd5-75da-b721-77fc7ae27bc4/6",
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  "deckAnchorHref": "/decks/019de06f-cfd5-75da-b721-77fc7ae27bc4#slide-6",
  "components": [
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      "kind": "callout",
      "text": "In our view, gross margins declines have been driven by increased couponing, growth in ecommerce, and declining merchandise margins",
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      "kind": "chart",
      "text": "Gross margin percentage by fiscal year from 2011 to 2018",
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      "kind": "source-note",
      "text": "Source: SEC Filings, Capital IQ",
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      "kind": "title",
      "text": "Gross Margins are in Rapid Decline",
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      "text": "Gross Margin History",
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      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "Slides 4-9 highlight the significant destruction of shareholder value, poor financial performance, and governance issues",
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      "evidence": "Slides 5-9 present a series of aha moments, including gross margins in rapid decline, SG&A at peak levels, and inventory turns below peers",
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      "objective": "To highlight the significant destruction of shareholder value and poor financial performance",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
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