The Globe and Mail reports in its Wednesday edition that Aritzia posted slowing revenue growth and a 47.5-per-cent drop in profit in the first quarter, and downgraded its sales forecast for this fiscal year as the clothing retailer has begun to see consumer traffic slow down amid continuing inflation. The Globe's Susan Krashinsky writes that the Vancouver-based retailer reported revenue grew to $463-million in the quarter ended May 28, up 13.4 per cent compared with the same period the prior year. Net income fell to $17.5-million or 15 cents a share, compared with $33.3-million or 29 cents a share in the prior year. Aritzia reported that inflationary pressures led to higher product costs, among other factors affecting profitability. The company has now revised its outlook for this fiscal year to reflect expectations of lower sales and gross profit margin. Aritzia now expects revenue to increase by 2 to 7 per cent this year, down from a previous forecast of 10- to 14-per-cent sales growth. The outlook marks a sharp deceleration in growth, after revenue shot up by about 2.5 times over the previous two fiscal years while profits soared. Aritzia's net revenues increased by 160 per cent from fiscal 2021 to 2023.