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  "docSlug": "jarvis-macellum-kohls-presentation-april-2022",
  "documentTitle": "Macellum Kohls Presentation April 2022",
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  "documentKindSlug": "activist-deck",
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  "presentationDate": "2022-04-01 00:00:00",
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  "pageNumber": 29,
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  "notes": "The slide uses a dual-axis chart (bar for sales, line for SSS) to illustrate performance stagnation.",
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      "kind": "callout",
      "text": "KOHL'S FAILED TO CAPTURE $26.4 BILLION IN AVAILABLE SALES OVER THE LAST FIVE YEARS AS OTHER RETAILERS HAVE GONE BANKRUPT",
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      "text": "2021 same-store sales declined 3.5% versus 2019",
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      "text": "Merchandise Sales ($ in Millions) and Same Store Sales (FY 2011 - FY 2021)",
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      "kind": "other",
      "text": "Source: Company SEC Filings, Bloomberg LP. Note: Same stores sales in 2020 and 2021 are based on net sales due to the impact of the COVID-19 Pandemic.",
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      "kind": "paragraph",
      "text": "Over the last 10 years, Kohl's' merchandise sales have not grown despite an increase in sales due to the pandemic and the significant opportunity to gain market share driven by competitors' store closures",
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      "text": "SALES HAVE STAGNATED FOR YEARS",
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