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  "documentTitle": "Macellum Kohls Presentation April 2022",
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  "notes": "The slide argues that the market is not valuing the company's owned real estate, suggesting monetization as a path to shareholder value.",
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      "text": "The Board could have a significant opportunity to monetize the Company's real estate assets and make meaningfully accretive repurchases",
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      "text": "Not only does Kohl's trade at the lowest valuation among its peers on EBITDA, shareholders receive no value for the owned real estate",
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      "text": "Source: SEC Filings; KSS 10-K Reports, Macellum Estimates on Price Per Square Foot based on Industry Experts",
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