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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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  "notes": "Uses a timeline-like visual comparison of past strategic announcements to highlight lack of progress.",
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      "kind": "callout",
      "text": "WITH NO BOARD CHANGE AND THE SAME CEO WHO CREATED THE \"GREATNESS AGENDA\", WHY SHOULD INVESTORS BELIEVE THIS TIME WILL BE ANY DIFFERENT?",
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      "text": "2014, 2020, 2022 strategic announcement screenshots",
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      "text": "In October 2014, Kohl's announced its \"Greatness Agenda\"... In 2018, with Ms. Gass as CEO... After material profit declines... 18 months later, in March of 2022... Unfortunately, we've heard this story before... The latest plan embeds EBIT declines...",
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      "kind": "source-note",
      "text": "Source: Company SEC Filings, Bloomberg LP",
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      "kind": "subtitle",
      "text": "Ms. Gass was the architect of the \"Greatness Agenda\" in 2014, and in recent years, little has changed with the strategy or the stock price",
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      "text": "THE \"NEW STRATEGY\" IS MORE OF THE SAME",
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