{
  "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",
  "aspectRatio": 1.3333334,
  "pageNumber": 9,
  "pageCount": 14,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 17,
  "notes": "The chart highlights BBBY in blue and points out that a high furniture mix correlates with lower inventory turns.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-cfd5-75da-b721-77fc7ae27bc4/9",
  "deckHref": "/decks/019de06f-cfd5-75da-b721-77fc7ae27bc4",
  "deckJsonHref": "/decks/019de06f-cfd5-75da-b721-77fc7ae27bc4.json",
  "deckAnchorHref": "/decks/019de06f-cfd5-75da-b721-77fc7ae27bc4#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.4,
        "x": 0.55,
        "y": 0.18
      },
      "kind": "callout",
      "text": "Increasing furniture mix is likely not the answer to driving asset efficiency higher",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb623854-4a17-4fe6-a16c-c4325be9a4f4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Bar chart showing inventory turnover ratios for 17 retail companies.",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "322ed48e-f8c8-47e5-a50a-1f76040e9944",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.1,
        "x": 0.85,
        "y": 0.45
      },
      "kind": "legend",
      "text": "Significant slow turning furniture mix",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "509d4c2b-f29b-46a5-b5d0-5f189a339ce7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: SEC filings, Capital IQ, Investor Group estimates",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea34d3f7-13a2-4091-8d22-a7be14cfe5f0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "subtitle",
      "text": "Retail Brick and Mortar Peers: Inventory Turnover LFY (Trailing 4 Quarter Average Inventory)",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f7fffdae-46ad-4a7a-b50a-ee71dbcdc449",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "title",
      "text": "Trailing inventory turns are a drag on return on invested capital",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2afc8a09-9738-441d-b2c7-34a6feea6635",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "What's Broken: Inventory Turns are Below Peers",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d300f75-1e8d-4b70-bf52-34379763533b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Slide recipe: the peer-gap chart",
      "slug": "peer-gap-chart-recipe",
      "agent": "designer",
      "layer": "slide",
      "matchId": "6ae11ace-52f3-4f61-803f-25a8833b39ec",
      "evidence": "Bar chart showing inventory turnover ratios for 17 retail companies",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "comparison-frame",
      "slug": null,
      "matchId": "b443b6b8-f16d-4fad-a946-b1fecbe552ca",
      "evidence": "Compares inventory turnover across a peer group to diagnose performance issues.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 9,
      "from": 4,
      "beatId": "8c6257b8-7a4e-4eae-8ef9-2fa59f00cd4a",
      "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",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 5,
      "name": "Aha Moment",
      "slug": "03-aha-moment",
      "bestFor": "Data-heavy sections, research findings, analytical arguments",
      "matchId": "0b34437d-2277-42d3-86bf-fb67adba83ff",
      "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",
      "position": 0,
      "objective": "To highlight the significant destruction of shareholder value and poor financial performance",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
      "confidence": 0.7,
      "description": "Establish a tension, present data, then deliver the insight that changes everything"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}