Apple Inc. is closing a retail store in China for the first time, marking a notable retreat in a market where the iPhone maker is striving to revive sales.

The move speaks to slowing spending by consumers and Apple’s continuing struggles in China, its second-largest market.

As major retailers across the nation continue to shut down stores at record speed, it is no surprise that more closures are looming, with some only days away. However, this trend isn't unique to the U.