Lauren Thomas is a reporter for CNBC covering retail.
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Mansell will be succeeded by Michelle Gass next month.
The apparel retailer is meanwhile trimming back its Gap and Banana Republic locations.
ESL Investments, the hedge fund led by Sears Holdings CEO Eddie Lampert, is proposing to buy some of the retailer's assets.
Macerich Chairman and CEO Art Coppola is set to retire at the end of this year.
Skechers shares plunge after the shoe retailer issued a disappointing outlook for this quarter.
Amazon is expected to make a big leap in the apparel market this year.
Pier 1 Imports' stock plummeted Thursday morning after the company reported sales that missed analysts' expectations.
CoStar Group has calculated already more than 90 million square feet of retail space (including Bon-Ton) is set to close this year.