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  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "Uses CEO/CFO quotes to frame management as out of touch with market reality.",
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      "kind": "callout",
      "text": "SPTN’S CURRENT PLAN CALLS FOR $15-$30 MILLION IN COST CUTTING THAT SEEMS UNLIKELY TO BENEFIT THE BOTTOM LINE",
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      "text": "As of 05/6/2022: There were seven Holds and one Buy. One Buy has a price target of $28, which is 13% below the current stock price. The average price target is $26.60, which is 17% below the current stock price",
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      "text": "The analyst community evidently does not hold much confidence in SpartanNash’s current strategy and direction, yet leadership continues to promote the Company's performance and prospects",
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      "kind": "quote",
      "text": "I'm excited about where we've been, and where we're headed as a company. As we continue to execute, I believe we will make SpartanNash an investment that will yield meaningful long-term return to all of our shareholders.",
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      "kind": "quote",
      "text": "I'd be remiss if I didn't highlight the fact that the plan and the outlook continues to reflect increased labor costs and the wage environment that we're operating in, as a significant headwind that would be offset by the supply chain transformation.",
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      "kind": "source-note",
      "text": "Source: Company SEC Filings, Bloomberg LP as of 05/6/2022. Macellum Advisors GP, LLC",
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      "text": "LOSS OF CONFIDENCE FROM A CONSENSUS OF INDUSTRY ANALYSTS",
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