{
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  "docSlug": "jarvis-macellum-spartan-nash-presentation-may-2022",
  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
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  "documentKindSlug": "activist-deck",
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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "The chart uses a 'Miss' label to explicitly call out instances where actual performance fell below the guidance range.",
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      "kind": "chart",
      "text": "EPS Guidance vs Actual Performance",
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      "text": "Prior to the COVID benefit, the Company missed guidance six years in a row\nThe Company has historically not provided investors with a long-term roadmap for growth",
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      "text": "Source: Company SEC Filings, Bloomberg LP. Macellum Advisors GP, LLC",
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      "kind": "title",
      "text": "THE COMPANY STRUGGLES TO FORECAST THE BUSINESS AND HAS A HISTORY OF OVERLY OPTIMISTIC PROJECTIONS",
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      "evidence": "The document agitates the problems by highlighting poor governance, failed M&A, and misaligned executive compensation",
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