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  "documentTitle": "Bilgari Cracker Barrel Presentation October 2020",
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  "presentationDate": "2020-10-01 00:00:00",
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  "nDataPoints": 12,
  "notes": "The slide uses two charts to demonstrate data manipulation: one showing the impact of date selection on TSR, and another showing peer comparison performance.",
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      "text": "TSR performance comparison by date",
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      "text": "* YTD data as of 10/27/2020",
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      "kind": "paragraph",
      "text": "* Cracker Barrel announced 2QFY20 earnings on 2/25/2020. Considering neither the earnings transcript nor the press release mentioned Covid-19, we believe 2/25/2020 is the correct pre-Covid date to measure TSR performance",
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      "kind": "quote",
      "text": "We also delivered higher TSR against the median of our family/casual dining peers over the 5-year period prior to the pandemic and have done so year-to-date in calendar 2020 as well",
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      "text": "By changing measurement dates Cracker Barrel inflated its TSR",
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      "text": "Cracker Barrel's distorted TSR calculations",
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