The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor and analyst Austin Smith discusses topics across the investing world.

In today's edition, Austin sheds light on one company that he sees making the hard call on one of its former bread-and-butter divisions. He thinks that when it made the hard call to sell a namesake brand, it showed the rare forward focus that so many major companies lack. Despite its crash-landing stock price performance over the last 12 months, moves like this give Austin hope that Liz Claiborne has the gumption to turn this ship around. The graveyard of corporations that tried to ride the success of past brands and products without looking to the future always has room for more. Fortunately, it looks like Liz Claiborne is willing to do what it takes to remain here in the world of living, breathing companies.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend Apple and Nokia. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.