{
  "docId": "019f6b8f-32cf-7688-97ac-a3d98b243b84",
  "docSlug": "jarvis-macellum-kohls-presentation-april-2022",
  "documentTitle": "Macellum Kohls Presentation April 2022",
  "authorId": "macellum-kohls-presentation-april-2022",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-04-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 134,
  "pageCount": 168,
  "prevPage": 133,
  "nextPage": 135,
  "slideType": "revenue_buildup",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 14,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-32cf-7688-97ac-a3d98b243b84/134",
  "deckHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84",
  "deckJsonHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84.json",
  "deckAnchorHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84#slide-134",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.28
      },
      "kind": "list",
      "text": "Macellum estimates that sourcing products through domestic vendors could see average unit cost decline by ~3% to ~4%, resulting in meaningful savings\nSome savings will be offset by building out additional capabilities to support direct sourcing",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3861fb3e-66e9-48f0-825c-5c7772833092",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "other",
      "text": "Source: Company SEC Filings, Macellum estimates.",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cad86fc4-534d-4fb7-bf71-77b7a8e04c14",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "We believe removing the middleman could improve total margins at Kohl's by 40 to 60 basis points or $81 to $117mm, even after considering new supply chain costs",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "574075fd-b32e-43de-993b-d10101a5b8bf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.16,
        "y": 0.525
      },
      "kind": "table",
      "text": "Size of Sourcing Improvement Opportunity: Total Sales 18,910; Total COGS 11,819; Private Brand Penetration 30%; Private Brand COGS 3,546",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4bc12cdb-a418-42c3-9005-5bf28d8d398c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.5,
        "y": 0.525
      },
      "kind": "table",
      "text": "Gross Margin Uplift: 3rd Party Cost Reduction 3.0%-4.0%; 3rd Party Profit Recapture 106-142; New Supply Chain Costs (25); Net Product Cost Savings 81-117; Gross Margin Impact 43-62",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "78a7abde-7685-44dd-b111-f284db7096d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.75,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "REASSESS THIRD-PARTY PRIVATE LABEL SOURCING MODEL",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d8e18aff-d1a4-41a0-9276-9a845bbacaaa",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 137,
      "from": 100,
      "beatId": "51f14180-9921-46ad-ada5-f56a99bcd42c",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document presents a solution, including a new leadership slate and a standalone operating plan.",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}