On Holding’s sales for the second quarter exceeded analysts’ predictions due to high demand from consumers seeking out fashionable goods.
The company kept its forecast for at least 30% growth in net sales for 2024, even after extending delivery times due to low stock levels and supply issues at its Atlanta distribution centres.
“We have experienced shipping delays, but we also experienced out-of-stock situations towards our DTC channel. And while we posted a record quarter, it could have been even stronger if we would not have had those impacts,” co-CEO and CFO Martin Hoffmann said.
The company’s second-quarter sales rose nearly 28 per cent to 567.7 million Swiss francs (US $ 655 million), compared with LSEG estimates of 560.9 million Swiss francs.
In the running behemoth Nike for shelf and web presence at stores like Dick’s Sporting Goods and Foot Locker.
Consumers in the US and Europe have shown a strong willingness to spend money on trendy and comfortable products like those produced by On, New Balance, and Hoka.
In the second quarter, On announced a multi-year relationship with actress Zendaya, building on the momentum from the launch of products in the running and trail categories, such as Cloudmonster Hyper and Cloudrunner 2.
