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Gap Inc to shutter 75 overseas Old Navy and Banana Republic shops

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WILTING IN THE HEAT OF COMPETITION: Gap Inc, which had last week warned about store closures following dismal first-quarter sales of its Gap, Old Navy and Banana Republic brands, now wants to focus on its North American market.

London

GAP Inc said it would shut 75 Old Navy and Banana Republic stores in overseas markets, as the struggling apparel retailer focuses on its North American market to revive its fortunes.

Shares of the San Francisco-based company were up 4.2 per cent in after-hours trading on

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