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Stock impact report

Affirm COO: Walmart deal was “uneconomic” [Yahoo! Finance]

Affirm Holdings, Inc. - Class A (AFRM) 
Company Research Source: Yahoo! Finance
Affirm Holdings wasn't interested in competing with Klarna for Walmart's business because doing so wouldn't have made economic sense, the buy now, pay later company's chief operating officer said during a recent presentation. Walmart accounts for only a sliver of San Francisco-based Affirm's business, COO Michael Linford told a William Blair analyst during a March 20 question and answer session hosted by the investment firm. “We felt like it was important to draw the line and not do deals that we thought were uneconomic,” Linford told analyst Andrew Jeffrey. Walmart, which Affirm first partnered with in 2019 , made up about 5% of the company's gross merchandise volume and 2% of its adjusted operating income in the second half of last year, Affirm said in a March 17 SEC filing “We will be able to replace a meaningful portion of that GMV,” Linford said, although he provided few details. An Affirm spokesperson declined to comment on the specifics of Affirm's partnership with W Show less Read more
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