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  "documentTitle": "Macellum Kohls Presentation April 2022",
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  "presentationDate": "2022-04-01 00:00:00",
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      "kind": "callout",
      "text": "EARNINGS FOR CITI TRENDS INCREASED 659% SINCE MACELLUM BEGAN ENGAGING",
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      "text": "Our Suggestions\nIncrease inventory turns\nIncrease size of share repurchases\nImprove the Company's merchandising strategy\nReallocate capital expenditure to improve the Company's systems\nIncrease store growth",
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      "text": "Our Impact & Value Creation\nMacellum placed six new directors on the company's board, including three Black women, and conducted an overhaul of the management team\nCiti Trends' TSR is up 80%¹ since Mr. Duskin joined the board in May 2017",
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      "text": "Source: TSR Data from Bloomberg LP– 1: Total shareholder return reflects the period from 5/24/17 to 4/14/22",
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      "text": "Overview\nIn 2017, Macellum engaged with Citi Trends because we believed the company had not taken full advantage of the significant opportunities to increase its profitability. The board had failed to deliver value to its stockholders and the vast majority of the Company's underperformance was the result of a flawed strategy driving declining operating metrics, erratic results, poor capital allocation and poor corporate governance",
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      "text": "CITI TRENDS, INC. – MACELLUM CREATING VALUE",
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      "text": "EXECUTIVE SUMMARY",
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