The fate associated with the Destination Maternity may encounter a change, which will prove to be positive for the company. A major change in the board and strategies may affect the company in a great way that designs a plethora of maternity apparels. Since 2011, the shares of the company had slipped by 90%, which is a huge loss. However, one of the shareholders from Gullane Capital Partners, Trip Miller, is highly hopeful regarding the series of events that are about to take place in the upcoming years.
Though the company has been maintaining a slow pace in order to respond to the elevating demands and entering into the segment of e-commerce, the future will be coming with surprising positive activities, which will definitely take the company into a new light.
Miller, who is the owner of the 3.4% outstanding shares of the company, stated that the prices of the shares will hover in between $2 and $3 and the profits will also be accelerated with the same.
The market cap of the company is $43 million and Miller expects that revamping the board members and management will definitely replace the negative scenarios with the positive ones.
With the passing time, people have reduced visiting the malls and are dependent upon the online shops. Since Destination Maternity failed to keep an equal pace with the dynamic trend, it drastically failed to survive in the strenuous market. Higher expenses of the administration, inventory, and sales also fuelled the failure of the company.
Miller also announced that three brands may amalgamate with the company to boost the endeavor to reach the peak of success in the e-commerce sector as well. A voting regarding the formation of the board was conducted that supported the presence of the female members in greater numbers. Though the shares fell by 2.5% after voting, the hopes are still high.