Affirm Lost Walmart to Klarna in 2025. Now It Has Sam’s Club. Here’s What Moves the Stock Before November 5
Affirm (AFRM) signed a multi-year deal with Sam's Club, Walmart's subsidiary, to become its pay-over-time provider. The stock closed down 1.51% at $72.40 on the announcement day. Affirm lost Walmart to Klarna in 2025, which contributed 5% of its GMV and 2% of adjusted operating income. The company is set to report fiscal first-quarter results on November 5.
How this was made
The 30-second read
Why it matters
The deal is a fresh catalyst that moved the stock, but the impact may be muted until the service launches in 2027.
Market read
The announcement provides a new trading angle ahead of the upcoming earnings release.
What to watch
Potential synergies with Walmart's broader ecosystem and the strategic value of offline penetration.
Background
Affirm's recent loss of the Walmart installment partnership to Klarna and the new Sam's Club deal are part of its strategy to diversify merchant relationships.
Ticker impact
Affirm announced an exclusive multi-year deal to become Sam's Club's pay‑over‑time provider, causing the stock to close down 1.51% on the same day.
likely downward pressure as investors price in higher funding costs and delayed revenue impact
The announcement triggered an immediate price drop and the market remains cautious about near‑term earnings impact.
Market effects
Adds competitive pressure in the BNPL space and may spur further consolidation.
U.S. fintech sector sees modest volatility as investors reassess exposure.
Limited; primarily affects U.S. listed fintech stocks.
Counterpoint
The partnership could unlock significant long‑term growth once live, offering upside beyond the short‑term dip.
Key entities
- companyAffirm Holdings Inc.
U.S. fintech offering buy‑now‑pay‑later solutions.
- companyWalmart Inc.
Parent of Sam's Club, former partner of Affirm.
