On Holding Sinks 20.29% After Sales Miss and Lowered 2026 Growth Outlook
Updated
Updated · Yahoo Finance · Aug 11
On Holding Sinks 20.29% After Sales Miss and Lowered 2026 Growth Outlook
3 articles · Updated · Yahoo Finance · Aug 11
Summary
On Holding closed at $30.91, its worst day ever, after second-quarter sales missed estimates and investors punished a weaker full-year forecast.
Management cut its 2026 sales-growth target from at least 23% to the low-20% range while prioritizing higher-margin direct-to-consumer sales over wholesale shipments.
42.2 million shares changed hands—about 604% above On's three-month average of 6.0 million—as investors focused on slowing wholesale demand and North America growth.
Q2 net sales were 850.3 million Swiss francs, below the 881.4 million francs analysts expected, even as the company posted SFr105 million in net income and strong Asia-Pacific growth.
The selloff left shares down 12% since On's 2021 IPO, underscoring market concern that protecting full-price positioning in a promotional U.S. market could weigh on near-term growth.