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  "docSlug": "jarvis-macellum-spartan-nash-presentation-may-2022",
  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "The slide uses a table to contrast capital expenditure with declining profitability metrics.",
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      "kind": "callout",
      "text": "THE BOARD HAS OVERSEEN A 16% DECLINE IN EBIT AND LONG-TERM OPERATING UNDERPERFORMANCE OVER THE PAST SEVEN FISCAL YEARS",
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      "text": "Macellum believes these problems can be remedied, but require a properly reconstituted Board with relevant expertise and experience that will hold management accountable",
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      "text": "The Board has allowed the Company to spend approximately $950 million on capital expenditures and acquisitions since 2014, all while EBIT has declined 16% over the same period",
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      "text": "Source: Company SEC Filings, Bloomberg LP. Notes: 1 Compound growth represents compounding same-store sales change. 2. Adjusted EBIT is calculated by taking the Company's Adjusted EBITDA from its SEC filings and removing depreciation and amortization (D&A) from the Company's SEC filings.",
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      "text": "Financial performance table 2014-2021",
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      "text": "THE BOARD HAS DEMONSTRATED A PERSISTENT INABILITY TO GROW SALES AND PRESIDED OVER A DECLINING OPERATING PROFIT",
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