The Swiss maker of On sneakers says it is so committed to building higher-margin, direct-to-consumer sales that it intentionally limited some wholesale shipments during its latest quarter.
On Holding's quarterly revenue fell short of Wall Street expectations, triggering a sharp sell-off in its shares, as higher US tariff costs and cautious consumer spending weighed on the premium sportswear maker's performance. The Roger Federer-backed company reported second-quarter net sales below analysts' estimates on Tuesday, sending its shares ONON down 19%.
Stock futures are pointing slightly higher after a sluggish start to the week, as investors await the release of several AI-related earnings reports after the closing bell; oil prices are wavering as hopes of an Iran deal have faded; Intel raised its stock offering to $20 billion from $15 billion; shares of Riot Platforms are soaring after the crypto miner-turned cloud computing firm inked a bi...
On Holding tempered its sales outlook for the year after the running-shoe maker reported lower-than-expected sales in the second quarter.
Stocks looked set to struggle for direction on Tuesday as investors worried about inflation, with hopes of Iran agreeing a deal to reopen the crucial Strait of Hormuz shipping route fading fast.
Apparel maker On Holding saw its shares slump in premarket trade as the Zurich-headquartered, U.S.-listed company guided to weaker-than-expected sales for the year.
Sportswear brand On , missed Wall Street estimates for second-quarter net sales on Tuesday, signaling pressure from a tougher consumer environment and higher costs from U.S. tariffs.