Swiss Sneaker Firm On Holding Stock Surges as Global Sales Jump
Key Takeaways
On Holding (
ONON
) shares advanced when the Swiss sportswear maker posted better-than-expected results as sales climbed in all its global markets.
The company, part-owned by tennis great Roger Federer, reported fourth-quarter adjusted
earnings per share (EPS)
of 0.33 Swiss francs ($0.37), with revenue jumping nearly 36% year-over-year to CHF606.6 million ($681.1 million). Both exceeded Visible Alpha forecasts.
Sales rose in every region, including by 28% to CHF385.1 million in the Americas.
Partnerships With Federer, Zendaya ‘Have Propelled On to Become a Beloved Brand’
Executive co-chairman David Allemann said On’s “partnerships with icons like Roger Federer, Zendaya, and FKA twigs have propelled On to become a beloved brand.” Allemann added the company is “confident that On is built to sustain enduring brand love for decades to come.”
On sees full-year net sales of at least CHF2.94 billion and adjusted
EBITDA margin
of 17.0% to 17.5%.
Shares of On Holding, which rose 4% Tuesday morning, have increased more than 45% in the past year.
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