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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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  "pageNumber": 35,
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  "notes": "The slide uses a bulleted list to systematically dismantle management's guidance across three key performance areas.",
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      "kind": "list",
      "text": "Gross Margin – the Company guided gross margin to expand between 20-50 basis points after a decline of 180 basis points in 2014.",
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      "text": "Capital Allocation – During the Company’s Q4 call it did not give any long term targets for achieving better inventory turns. Further, the Company has not shared any plans for the $225 million of cash sitting idly on its balance sheet.",
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      "text": "Same Store Sales Growth – guidance for the year for same store sales growth was set at 0-1%, which we find to be unusually conservative.",
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      "text": "Guidance for 2015 is another example of what we believe to be insufficient expectations. We are concerned that the Company has not developed compelling enough initiatives to achieve reasonable earnings growth.",
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      "kind": "title",
      "text": "We Believe Targets Are Consistently Inadequate",
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