The travelling thief problem (TTP) is a combination of two interdependent NP-hard components: travelling salesman problem (TSP) and knapsack problem (KP). Existing approaches for TTP typically solve the TSP and KP components in an interleaved fashion, where the solution to one component is held fixed while the other component is changed. This indicates poor coordination between solving the two components and may lead to poor quality TTP solutions. For solving the TSP component, the 2-OPT segment reversing heuristic is often used for modifying the tour. We propose an extended and modified form of the reversing heuristic in order to concurrently consider both the TSP and KP components. Items deemed as less profitable and picked in cities earlier in the reversed segment are replaced by items that tend to be equally or more profitable and not picked in the later cities. Comparative evaluations on a broad range of benchmark TTP instances indicate that the proposed approach outperforms existing state-of-the-art TTP solvers.