On Holding Slashes Full-Year Sales Outlook, Shares Plunge 19% on Weak Running-Shoe Sales
ONON is trading near its 52-week low of $30.112 (4.4% above the low) on elevated volume (4.1× avg).
Summary
On Holding slashed its full-year sales guidance, now projecting low-20% growth (CHF3.47B-CHF3.56B) down from at least 23% (at least CHF3.51B). This follows Q2 net sales of CHF850.3 million that missed analyst estimates, causing shares to plunge 19% to a 52-week low. The company deliberately limited wholesale shipments to protect brand integrity, prioritizing higher-margin direct-to-consumer sales, which grew 26%. This guidance cut signals a significant slowdown in growth expectations, despite the strategic shift, and reflects investor concern over moderating demand and rising costs.
At the time of this announcement, ONON was trading at $31.43 on NYSE in the Trade & Services sector, with a market capitalization of approximately $10.4B. The 52-week trading range was $30.11 to $52.20. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.