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CP24 Toronto

Roger Federer-backed On shares slide to a roughly two-year low after Q2 net sales miss

AI Market Summary
On Holding shares fell sharply after Q2 net sales missed expectations, driven by decelerating growth in the Americas (its largest region) and slowing wholesale momentum. Management reiterated a full-price strategy, lifting full-year gross margin guidance and slightly widening the constant-currency sales range, but investors focused on moderating demand and inventory-related margin sustainability risks. The result pressures near-term confidence in premium athletic retail resilience amid a tougher consumer backdrop.
Impact level
● Medium
Affected assets
ON/USDT-5.04%
AI Insight · ON/USDTAI Insight
▼ Bearish
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Swiss sportswear brand On reported second-quarter net revenue of 850.3 million Swiss francs, below market expectations of 878.16 million Swiss francs, sending the stock to a roughly two-year low. The company raised its full-year gross margin outlook to at least 65%. It also adjusted its full-year net sales forecast range at constant currency to 3.47 billion to 3.56 billion Swiss francs. Asia-Pacific sales rose 54.7%, but the overall miss weighed on the shares.
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