The Globe and Mail reports in its Thursday edition that Aritzia share plummeted nearly 21 per cent on Wednesday to $34.15 after the Canadian retailer posted upbeat quarterly results but issued a disappointing outlook, making it another casualty of high inflation and stressed consumers. The Globe's David Berman writes that the stock's decline sent it hurtling toward an 11-month low and marked a severe setback for a retailer that had enjoyed strong approval from investors for its impressive growth and support from consumers who coveted its line of fashionable women's clothing. The stock is now down 29 per cent in 2023, lagging Lululemon by nearly 50 percentage points. Aritzia is also trailing general retailers such as Walmart and Target, suggesting investors are taking a grim view of its prospects as inflation compresses the company's profit margins. "We remain bullish about the long-term growth opportunity for Aritzia, though in the context of slowing consumer spending as well as substantial margin volatility, we take a more cautious view," said CIBC analyst Mark Petrie in a note. He cut his price target for the stock, or the price at which he thinks it will trade within 12 to 18 months, to $44, down from $60.