Major French luxury department store Galeries Lafayette closed its first China flagship branch on Wednesday, over a decade after opening, pointing to sluggish domestic consumption and shifting spending habits.

French luxury retailer Galeries Lafayette closed its flagship Beijing store on Wednesday after 13 years, underscoring weak consumer spending and changing shopping habits in China.…

When Beijinger Jacqueline Li first heard one of her favourite luxury department stores in the city was closing, she was shocked -- until she considered how Chinese spending habits…