Retracting

verb

1. To pull back inside.

   "An airplane retracts its wheels for flight."

2. To draw back; to draw up.

   "A cat can retract its claws."

3. To take back or withdraw something one has said.

   "I retract all the accusations I made about the senator and sincerely hope he won't sue me."

4. To take back, as a grant or favour previously bestowed; to revoke.