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  "docSlug": "jarvis-macellum-the-childrens-place-presentation-april-2015",
  "documentTitle": "Macellum The Childrens Place Presentation April 2015",
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  "presentationDate": "2015-04-01 00:00:00",
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  "notes": "The chart shows a clear downward trend from 2009 to 2014.",
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      "kind": "chart",
      "text": "Declining Gross Margin",
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      "text": "Gross margins have declined by 480 basis points since 2009 due to what we believe is poor merchandising and poor inventory management. Despite an increase in AURs, mentioned earlier, the Company’s gross margins nonetheless declined, apparently due to excessive markdowns. We understand the Company has also made supply chain changes which we believe, based on our review of declining gross margin trends, have not worked.",
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      "text": "Source: SEC Filings; Barington analysis",
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      "text": "We Believe Missteps Have Pressured Gross Margins",
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