Macy's full retreat reveals harsh retail realities in China

As Macy's raised the curtain on its elaborate window displays of festive cheer in its home market, the US retail giant has quietly brought down the curtain on its business in China ahead of the most important selling season of the year.

A recent statement on Macy's flagship store on Alibaba's flagship e-commerce portal Tmall said that the store stopped taking orders since Dec 3 and its customer services will not be available by the end of the month.

This is the second time in a year that the 160-year-old department store chain has called off its business in China.