Latest news with #OnHoldingAG
Globe and Mail
6 days ago
- Business
- Globe and Mail
Company News for Aug 13, 2025
Cardinal Health Inc.'s ( CAH ) shares tumbled 7.2% after reporting fourth-quarter fiscal 2025 revenues of $60,159 million, missing the Zacks Consensus Estimate of $60,668.31 million. Shares of Sea Limited ( SE ) jumped 19.1% after the company reported second-quarter 2025 revenues of $5,361.64 million, beating the Zacks Consensus Estimate of $5,122.40 million. Circle Internet Group's ( CRCL ) shares rose 1.3% after posting second-quarter 2025 revenues of $658.08 million, surpassing the Zacks Consensus Estimate of $645.35 million. Shares of On Holding AG ( ONON ) climbed 9% after the company posted second-quarter 2025 revenues of $907.78 million, outpacing the Zacks Consensus Estimate of $850.88 million. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cardinal Health, Inc. (CAH): Free Stock Analysis Report On Holding AG (ONON): Free Stock Analysis Report Circle Internet Group, Inc. (CRCL): Free Stock Analysis Report
Yahoo
7 days ago
- Business
- Yahoo
On Is Paying 40 Percent on Vietnam Imports to the US: Here's Why the Brand's CEO Isn't Worried
On Holding AG is eyeing a business model that is expected to help insulate it somewhat from tariff surprises. Martin Hoffmann, CEO and CFO, said that during the company's second quarter earnings conference call to investors Tuesday that On implemented selective price increases in the U.S. in early July. He also said raising prices had no impact on the firm's second quarter profitability. More from WWD On Holdings Readying Zendaya Apparel Offering as Brand Continues to Outperform Shoe Firms, Consumers Get Big Break as Trump Extends China Tariff Deadline Where's the New Opportunity in Footwear Production? Jack Erwin President Sounds Off 'Considering our strong performance in Q2, continued powerful momentum in the first weeks of Q3, a strong order book for the fall/winter season and the continued efficiency tailwinds driven by our focus and commitment to operational excellence, we are increasing our 2025 guidance across all line items with high expectations for net sales growth, gross profit margin and adjusted EBITDA margin,' Hoffmann said. The company also raised guidance in the first quarter following an earnings report that was ahead of expectations. The second quarter net loss was 40.9 Swiss francs, against net income of 30.8 million Swiss francs a year ago. Net sales grew by 38 percent to 749.2 million Swiss francs, from 567.7 Swiss francs a year ago. The company now expects net sales at constant currency rates is forecasted to be up at least 31 percent year-over-year, ahead of prior guidance of at least 28 percent. Hoffmann said the increased outlook already includes the impact of a 20 percent incremental tariff on imports to the U.S. from Vietnam and the 10 percent assumed in previous guidance. While not thrilled about the higher tariff rates, Hoffmann also isn't worried about them. The CEO said that On has been paying around 20 percent import duty on the majority of imported product to the U.S. from its Southeast Asian manufacturing countries, and now that's shifting to 40 percent for imports from Vietnam and to 39 percent for imports from Indonesia. The U.S. disclosed last month that it has the framework for a preliminary trade agreement with Vietnam for a 20 percent tariff, with final terms still to be negotiated. The framework for a trade deal with Indonesia also disclosed last month, calls for a 19 percent tariff rate. Specifics for Trump's trade deals have not been disclosed, and Hoffmann's projections suggest that the new tariffs are stacked on top of existing duties. 'As a premium brand and as a fast-growing brand, we have multiple opportunities to compensate for these impacts of our cost sold,' he said. Hoffmann said investments and the upscaling of On's abilities to drive more gross profit margin translates into innovative products that come at higher price points. Those factors have increased the DTC mix, created economies of scale on product cost and fostered supply chain optimization. And even though there have been select price increases, there's still one more option that On hasn't yet needed to do. 'We have not even yet spoken to our retail partners, our factory partners, about mitigation efforts, which is still something we can do, but we haven't needed it yet. So this gives us the confidence to raise basically all our financial numbers,' the CEO said. Hoffman said that while the company is just a year-and-a-half into its three-year strategic plan, On is 'far ahead of expectations.' He said the momentum for brand awareness growth will 'carry forward with the launch of the Cloudboom MAX next week,' describing it as the first super shoe for the everyday runner and one that he and others at On will be wearing in their fall marathons. The CEO also said that gross profit margin increased by 160 basis points year-over-year to 61.5 percent, an indication of the strength of the premium position of the brand. 'The year-over-year increase was primarily driven by the high DTC share, lower freight expenses as well as a net foreign exchange tailwind from the further depreciation of the U.S. dollar during the quarter,' he said. As On continues to build iconic footwear franchises, the company also is starting to merge sports with fashion as it aims for a premium lifestyle focus with higher price points that allow for high profit margins. 'What truly excites me is that we're not just creating footwear, we're building iconic franchises. Today, we have nine distinct footwear franchises, each contributing more than 5 percent to our top line,' co-founder and co-chairman David Allemann said on the conference call. 'That kind of balance isn't an accident. It's the result of a year's long focused strategy to build resilience into our portfolio.' He noted that the company is building a business that has the potential to have a 'very high margin profile.' The business model has the brand expanding beyond footwear to include apparel. That transforms On to 'somewhere between a sports brand and a fashion brand,' with a placement at the 'intersection of performance, innovation and fashion' that allows it to have 'very, very high price points,' the co-chairman said. Iconic footwear franchises include Cloudsurfer and Cloudmonster, and the Swiss brand is seeing momentum with the newly launched Cloud 6. Footwear sales in the second quarter ended June 30 rose 36.0 percent at constant exchange. Apparel, representing just about 7 percent of total sales, is gaining traction. The Zurich-based brand previewed its Spring/Summer '26 collection during Paris Fashion Week, and is set to launch an apparel line with brand ambassador Zendaya this fall. 'What connects footwear and apparel is On's strive in technological innovation and our routes in Swiss engineering and design,' Allemann said, noting that those factors allows the firm to 'build a truly resilient portfolio.' 'But our product resilience is about more than just footwear and apparel — it's our commitment to win in multiple sports,' Allemann said. 'We started in running, but we successfully expanded to trail, outdoor, tennis and training, moving us closer to our vision of being the most premium holistic sportswear brand.' He also emphasized that while On is fundamentally a sports brand, the cultural shift towards sport as the new 'uniform' creates a lifestyle focus that unlocks a much larger addressable market. One example cited was the recent Loewe x On Cloudtilt collaboration sneaker, which retailed at $590 a pair and was 'sold out almost entirely within days.' The co-chairman said that wholesale — up 23 percent in the quarter — remains a vital distribution channel, citing success with 'over 11,000 stores globally from the biggest players to local running specialty.' But it is the direct-to-consumer (DTC) business that is the standout that has driven large gains, both online and in physical retail. DTC represents 41.1 percent of total sales and remains a huge growth area for On. The company, which operates 54 company-owned stores worldwide, is also seeing untapped potential for stores across Europe, particularly in France, Italy and Spain, as well as triple-digit growth in Asia, especially in Singapore and Thailand. The co-founder also noted that a few weeks ago, the company launched its first LightSpray factory in Zurich, with four robotic arms. 'It's a path to the future of manufacturing, faster, less labor-intensive, in various locations with a much simpler supply chain that's closer to consumer demand,' Allemann said. LightSpray technology cuts a multi-part production process into a three-minute, minimal-waste step, creating the lightest racing shoe — its Cloudboom Strike LS — that weighs just 170 grams. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
7 days ago
- Business
- Wall Street Journal
On Holding Shares Rise After Raising Outlook Following Sales Surge
On Holding AG ONON 8.26%increase; green up pointing triangle raised its outlook for the year despite uncertainty brought on by tariffs, sending its shares higher. The Swiss athletic shoemaker now expects sales to increase at least 31% on a constant-currency basis year-over-year, while gross profit margin is forecast to be in the range of 60.5% to 61% in 2025. It previously guided for sales to increase 28% year-over-year and gross profit margin to be between 60% and 60.5%.
Fashion Network
7 days ago
- Business
- Fashion Network
Swiss sneaker brand On lifts targets as Europe, Asia fuel demand
Home › News › Business Published August 12, 2025 Download Print Published August 12, 2025 On Holding AG lifted its sales and earnings forecasts for the year after an unexpectedly strong second quarter that saw buyers in Europe and Asia snap up the Swiss sneaker maker's high-priced footwear. Tennis player Roger Federer backs On - On The Roger Federer-backed company now sees revenue growing at least 31% on a constant currency basis this financial year, above analyst estimates and three percentage points higher than the previous target. It translates to net sales of 2.91 billion Swiss francs ($3.6 billion) at current spot rates, On said Tuesday. Zurich-based On has become one of the top performers in the sneaker world, expanding from its core running shoes to other areas like tennis, training and apparel. The brand has grown rapidly since its 2010 founding, eating into market share of bigger players including Nike Inc. and Puma SE. On's shares are up nearly 17% so far this year in New York, outperforming rivals including Adidas company expects its gross profit margin to reach a range of 60.5% to 61% for the year, slightly up from its previous target despite US trade tariffs weighing on the sneaker sector. On cited better-than-expected growth at its expanding network of company-owned stores and its e-commerce channels.'The energy everywhere is so high,' Chief Executive Officer Martin Hoffmann said in an interview. 'We are in a really strong position and the whole ecosystem is supporting our aspirations.' On expects to open another five to 10 stores later this year, including one in its home of Zurich, another in Palo Alto, California, and a couple of locations in South Korea, Hoffmann said. Second-quarter sales rose more than analysts expected to 749 million Swiss francs, up 38% from a year ago in constant currency terms. The gross profit margin reached 61.5%, also better than analysts' estimates. On has the most expensive running shoes in the industry on average and began edging prices higher in the US last month, especially on lifestyle products. That approach hasn't scared off consumers so far, with strong early demand for On's new highly cushioned Cloudsurfer Max model which came to market in July, according to Hoffmann. Revenue in the second quarter jumped 43% in Europe, the Middle East and Africa and 101% in the Asia-Pacific region, significantly outperforming estimates. Growth of about 17% in the Americas was just shy of new store in Singapore generated some of the best opening-weekend business that the company has seen anywhere in the world, Hoffmann said. 'The demand there is so strong,' he said of the Asia-Pacific region. 'Much stronger than what we are willing to supply to the market.' Copyright Bloomberg Tags : Fashion Footwear Sports Business
Fashion Network
7 days ago
- Business
- Fashion Network
Swiss sneaker brand On lifts targets as Europe, Asia fuel demand
Home › News › Business Published August 12, 2025 Download Print Published August 12, 2025 On Holding AG lifted its sales and earnings forecasts for the year after an unexpectedly strong second quarter that saw buyers in Europe and Asia snap up the Swiss sneaker maker's high-priced footwear. Tennis player Roger Federer backs On - On The Roger Federer-backed company now sees revenue growing at least 31% on a constant currency basis this financial year, above analyst estimates and three percentage points higher than the previous target. It translates to net sales of 2.91 billion Swiss francs ($3.6 billion) at current spot rates, On said Tuesday. Zurich-based On has become one of the top performers in the sneaker world, expanding from its core running shoes to other areas like tennis, training and apparel. The brand has grown rapidly since its 2010 founding, eating into market share of bigger players including Nike Inc. and Puma SE. On's shares are up nearly 17% so far this year in New York, outperforming rivals including Adidas company expects its gross profit margin to reach a range of 60.5% to 61% for the year, slightly up from its previous target despite US trade tariffs weighing on the sneaker sector. On cited better-than-expected growth at its expanding network of company-owned stores and its e-commerce channels.'The energy everywhere is so high,' Chief Executive Officer Martin Hoffmann said in an interview. 'We are in a really strong position and the whole ecosystem is supporting our aspirations.' On expects to open another five to 10 stores later this year, including one in its home of Zurich, another in Palo Alto, California, and a couple of locations in South Korea, Hoffmann said. Second-quarter sales rose more than analysts expected to 749 million Swiss francs, up 38% from a year ago in constant currency terms. The gross profit margin reached 61.5%, also better than analysts' estimates. On has the most expensive running shoes in the industry on average and began edging prices higher in the US last month, especially on lifestyle products. That approach hasn't scared off consumers so far, with strong early demand for On's new highly cushioned Cloudsurfer Max model which came to market in July, according to Hoffmann. Revenue in the second quarter jumped 43% in Europe, the Middle East and Africa and 101% in the Asia-Pacific region, significantly outperforming estimates. Growth of about 17% in the Americas was just shy of new store in Singapore generated some of the best opening-weekend business that the company has seen anywhere in the world, Hoffmann said. 'The demand there is so strong,' he said of the Asia-Pacific region. 'Much stronger than what we are willing to supply to the market.' Copyright Bloomberg Tags : Fashion Footwear Sports Business Fashion Jobs : PUMA ADIDAS
