Federer-backed On lifts annual sales forecast on strong holiday season demand
- On Holding raised its annual sales forecast after beating quarterly revenue estimates on Tuesday, driven by strong holiday season demand for its new running shoes such as Cloud X4 and Cloudnova 2 from customers willing to pay full prices.
"The strong momentum really allows us to focus on full price," Martin Hoffmann, co-CEO and CFO of On, told Reuters in an interview, adding the company does not need discounting during the holiday season.) are also placing On and Hoka shoes at storefronts, helping On see a 23.2% rise in wholesale revenue to CHF 389.1 million.
Third-quarter sales rose 32.3% to CHF 635.8 million, compared with analysts' estimate of CHF 617.3 million, according to data compiled by LSEG.
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