Friday, May 4, 2018

Destination Maternity in proxy battle

Chain Store Age
The nation’s largest maternity apparel retailer is facing a challenge from an activist shareholder group at its annual meeting on May 23.

Destination Maternity is defending its slate of board nominees — and its overall strategy — amid a challenge from The Miller Group. The retailer on Friday sent a letter to stockholders in which it said Miller Group wants to take control of the company and replace Destination Maternity’s entire board of directors with a slate of “unproven and untested nominees” who lack “institutional knowledge” of the company. . . . more