US Retail Stocks Mixed as Affirm and Gap Surge While Ulta Beauty Declines

Key Facts

1Affirm shares surged following Q4 earnings results that significantly exceeded market estimates.

2Ulta Beauty's earnings report showed some weakness, contrasting with the broader retail sector's performance.

At a time when investors are closely monitoring consumer spending resilience, retail and financial services stocks showed a marked divergence in performance. Affirm shares surged following Q4 earnings results that significantly exceeded market estimates. Conversely, Ulta Beauty experienced a decline after its earnings report revealed financial weaknesses, highlighting a split in momentum across different retail segments.

According to analyst reports, Affirm and Gap led the gains in early Friday trading, driven by strong forward momentum in the Buy Now, Pay Later (BNPL) sector. This market reaction aligns with recent global consumer trends, such as the 3.3% year-on-year growth in New Zealand Retail Sales reported on August 23, 2026, per market data, which suggests a complex but active consumer environment.

Looking ahead, traders are watching for price stabilization following these earnings-driven moves, though authoritative closing prices for August 28, 2026, remain unavailable. With no major upcoming catalysts in the immediate economic calendar, market focus will likely remain on the sustainability of fintech growth and whether other retail firms can avoid the operational blemishes reported by Ulta Beauty.