Company chief executive Stefan Larsson plans to reignite sales growth and turn the brand into a more 'nimble' organization.
The clothing retailer says it will shut down 53 Old Navy stores in Japan, along with 22 Banana Republic locations.
Gap said Thursday that it is closing 75 stores, primarily internationally, by the end of fiscal 2016.
The department store chain will close 68 Kmart locations and 10 Sears stores in late July.
The fast food chain plans to sell 2,800 restaurants in China, Honkg Kong and South Korea.
Occupancy at malls is declining for the first time since the recession, according to research by Green Street Advisors.
Sears Holdings is shutting down a number of stores as part of an annual review of its store network.
The retail chain specializing in athletic shoes tries to turn its business around amid falling sales.
Macy's to close 35 to 40 stores; partner with Best Buy.
Sears reported a quarterly net loss of $548 million, and the retailer said it had nearly doubled its planned store closures to cut costs.
When Crumbs shuttered its remaining stores, it seemed like an abrupt ending for a company that opened a decade ago to ride the wave of popularity of the sugary treat.