Chico's (CHS), a women's apparel retailer, is a turnaround story we think many value investors will be interested in. Most investors probably remember the stock's high-flying days in the early 2000's. However, poor fashion decisions and overzealous expansion led to a crash in the stock. Many investors have written off the name. However, the company has made a number of changes to improve its performance.

Also, we think the company is a bit misunderstood. While many investors are familiar with its flagship Chico's brand which has struggled, the company has two other very attractive brands that you may not be aware of: White House / Black Market (WH/BM) and Soma Intimates. Given its attractive portfolio of brands, margin expansion and strong balance sheet, we wanted to flesh the story out in greater detail.