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  5. ATZ: Has there been that much of a slowdown in the retail sector to have all 3 down 20%. [Aritzia Inc. Subordinate Voting Shares]
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Q: Has there been that much of a slowdown in the retail sector to have all 3 down 20%.
Asked by andrew on March 18, 2026
5i Research Answer:

Most of these names have seen large increases over the past year (GIL up 22%, ATZ up 114%, GRGD up 447%), and so some profit-taking and consolidation can be expected, but they are also largely following the moves in the broad market indexes. Most markets (TSX, Nasdaq 100, S&P 500, etc.) are flat over the past several months, and this has been a result of rotation out of winning sectors, themes, and into areas that have been underowned for some time. There have been some weak Canadian economic data points recently, which could be impacting sentiment on these names, but we think it is mostly a sentiment/market related issue, rather than company-specific.

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