Lands' End

The one-time Sears unit has been phasing out its sites situated inside the struggling chain.

The casual clothing company Lands' End is naming the one-time chief executive of the high-end luggage maker Tumi as its next chief executive officer.

"Both have taken dramatic steps to reinvent their brands for a new era of retail. The similarities end there."

"What happens when a company doesn’t know its customers or its strengths? It loses money — and its identity."

Federica Marchionni has stepped down after less than two years and now the board has appointed two vice presidents to lead the company while it searches for a new chief executive officer.