{
  "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": 30,
  "pageCount": 168,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 80,
  "notes": "The slide uses CEO/CFO quotes to contrast with the quantitative data showing KSS underperforming the peer average/median.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-32cf-7688-97ac-a3d98b243b84/30",
  "deckHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84",
  "deckJsonHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84.json",
  "deckAnchorHref": "/decks/019f6b8f-32cf-7688-97ac-a3d98b243b84#slide-30",
  "components": [
    {
      "bbox": {
        "h": 0.18,
        "w": 0.51,
        "x": 0.03,
        "y": 0.64
      },
      "kind": "callout",
      "text": "NOT ONLY HAS KOHL'S FAILED TO CAPITALIZE ON THE ROBUST CONSUMER ENVIRONMENT TO BOOT TOPLINE GROWTH, BUT IT ALSO LOST MARKET SHARE TO RETAIL PEERS",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cde5a089-e2f7-47a0-95e2-bbac7cfa0753",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.5,
        "x": 0.03,
        "y": 0.19
      },
      "kind": "paragraph",
      "text": "We believe that management is often overoptimistic and does not have a handle on the business",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a9f634d9-0a95-4fcd-87f0-87a140b6b290",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.24,
        "x": 0.04,
        "y": 0.29
      },
      "kind": "quote",
      "text": "\"[...] as we think about all of our strategies leading into back-to-school and holiday, I think we've never been as well-positioned.\" - CEO Michelle Gass on March 20, 2021",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e4c1c37e-3535-4303-9eb6-dad914814fcc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.24,
        "x": 0.3,
        "y": 0.29
      },
      "kind": "quote",
      "text": "\"But I also feel confident that everything we've outlined today should help us continue to grow the top line beyond 2019, and that will provide a much more efficient model.\" Chief Financial - CFO Jill Timm on March 9, 2021",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb57b052-e266-48db-9d20-b721f00c0a12",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.03,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: Company SEC Filings, Bloomberg LP, and Bloomberg LP Transcripts. Note: * M & BBBY growth vs. 19 is comparable stores growth due to significant store closures",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6012c698-6647-4177-9078-ae2f9b6610a3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.7,
        "w": 0.38,
        "x": 0.58,
        "y": 0.21
      },
      "kind": "table",
      "text": "Peer performance table showing Q1-Q4 2019 and FY 21 vs 19 sales growth for various retailers compared to KSS.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a461865a-4b7e-4cd1-8b22-d2d3f1aa053e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.75,
        "x": 0.03,
        "y": 0.03
      },
      "kind": "title",
      "text": "AS THE ECOMONY REOPENED, KOHL'S LOST MARKET SHARE TO PEERS AS TRENDS DETERIORATED",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f8a588ec-1d07-44d2-a2f2-53a0bf447c22",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "c112bf67-e13a-4666-ba8a-2f166c8c67e9",
      "evidence": "Contrasting management quotes with actual performance data",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 10,
      "beatId": "b48fd38c-d407-454c-86f0-921218e96770",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitation",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document agitates Kohl's problems, highlighting the board's failures and the company's declining performance.",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}