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Destination Maternity Corp. (NASDAQ: DEST) is a designer and retailer of maternity apparel in the U.S. through a network of nearly 2,000 specialty retail stores across all 50 states, as well as through partners like Kohl's Corporation (NYSE: KSS). Recently, management began closing underperforming stores, focusing on improving profitability, and returning value to shareholders in the form of dividends and buybacks.

Despite these efforts, the stock has underperformed the S&P 500 over the past 52 weeks by about 5% and has fallen more than 10% over the past month alone. In this article, I'll take a look at why the market may be underestimating the impact of management's changes and why the stock might be trading at a...

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