On Holding leaps after posting record quarter and upbeat full-year guidance
The Swiss sneaker brand is riding strong demand and a growing direct-to-consumer business.
On Holding shares jumped over 11% Tuesday after the Swiss sneaker and athleisure company reported record sales and raised its outlook for the year. Revenue hit an all-time high of $861 million, topping FactSet estimates of $806.9 million, while earnings per share came in slightly ahead at $0.25. Footwear, apparel, and accessories all delivered solid growth, fueled by strong demand and new sneaker launches like the Cloud 6 and Cloudsurfer 2.
On execs said the brand has continued its momentum from late last year, boosted by strength in its direct-to-consumer sales and smoother supply chain operations. Looking ahead, On expects at least 28% net sales growth for the full year on a constant currency basis, a forecast that also factors in tailwinds from the 90-day US-China tariff truce.
On shares are now positive on the year, up about 1%.
