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TORONTO - Payment network Affirm (NASDAQ:AFRM) has partnered with New Look Vision Group to offer pay-over-time options for Canadian customers shopping at optical retailers including New Look Eyewear, Greiche & Scaff, Vogue Optical, and IRIS, according to a press release statement.
The collaboration allows approved Canadian shoppers to split their eyewear purchases into biweekly or monthly payments when selecting Affirm at checkout. Customers can choose customized payment plans without late or hidden fees when buying prescription glasses, sunglasses, or contact lenses. According to InvestingPro data, Affirm’s strong liquidity position, with a current ratio of 13.47, supports its ability to maintain and expand such partnerships.
New Look Vision Group operates over 475 stores across the US and Canada. The company’s President & CEO Antoine Amiel said the partnership advances their vision of making high-quality vision care more accessible.
"Eyewear is often a necessary investment, and offering a flexible way to pay helps remove a meaningful barrier for many consumers," Amiel stated.
Wayne Pommen, Chief Revenue Officer at Affirm, noted that payment options should be tailored to individual needs, similar to eyewear prescriptions.
The payment plans through Affirm Canada Holdings Ltd. are subject to eligibility checks with rates ranging from 0-31.99% APR, depending on provincial regulations. A down payment may be required for some purchases.
New Look Vision Group joins approximately 360,000 merchants offering Affirm at checkout, including other Canadian retailers such as Amazon, Apple, Samsung, and Brown’s Shoes. While InvestingPro analysis indicates the stock is currently trading above its Fair Value, investors can access 8 additional ProTips and comprehensive financial metrics through the Pro Research Report, which provides deep-dive analysis of Affirm’s business model and growth prospects. The company’s stock has delivered an impressive 125% return over the past year, reflecting strong investor confidence in its expansion strategy.
In other recent news, Affirm Holdings Inc. has seen several noteworthy developments. RBC Capital increased its price target for Affirm to $75 from $70, maintaining a Sector Perform rating, as the company is expected to achieve GAAP operating profitability by fiscal year 2026. Meanwhile, Needham reiterated its Hold rating on Affirm, voicing concerns about potential revenue challenges if Walmart transitions to Klarna/OnePay, which could impact Affirm’s fiscal year 2026 revenue. On the partnership front, Affirm announced a collaboration with Xsolla to offer flexible payment options for gamers in the U.S., allowing purchases to be split into interest-free payments. Additionally, Affirm extended its capital partnership with Moore Specialty Credit through 2027, continuing a relationship that has seen Moore invest nearly $5 billion in Affirm’s assets. Affirm also expanded its capital partnership with PGIM Fixed Income by establishing a new $3 billion revolving loan facility. This facility will facilitate the purchase of up to $500 million of Affirm loans at any given time. These developments highlight Affirm’s strategic moves in the financial and partnership arenas.
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