Gap to Close 75 Old Navy, Banana Republic Stores Outside North America

Gap Inc said it would shut 75 Old Navy and Banana Republic stores in overseas markets as the struggling apparel retailer focuses on North America to revive its fortunes. Shares of the San Francisco-based company were up 4.2 percent in after-hours trading on Thursday. The store closures include all its 53 Old Navy outlets in Japan, the company said in a statement.