Skyrocketing Sales Lead to Revised Projections
On Holding Q2 2025 Results: Strong Growth Across Globe
On Holding, the Swiss footwear and sportswear company, reported impressive financial results for the second quarter of 2025. The company's direct-to-consumer sales surged by 47.2%, reaching 308.3 million Swiss francs, while overall revenue increased by 32% to 749.2 million Swiss francs.
The growth was particularly notable in the apparel segment, where revenue jumped by 67.5% to 36.7 million Swiss francs. On Holding's gross margin also improved, rising by 1.6 percentage points year over year to 61.5%.
The company's footwear business also performed well, with revenue growing by 29.9% to 704.9 million Swiss francs. Europe, Middle East, and Africa (EMEA) saw a revenue growth of 42.9%, and the Asia-Pacific region reported a staggering 101.3% revenue growth. However, the Americas were the slowest-growing region, with a revenue growth of 16.8%.
Despite the strong results, On missed earnings due to currency fluctuations. The company's share price, however, was up around 15% in premarket trading before the market opened.
On's apparel business is growing quickly but remains a small part of overall revenue. The company has found incredible success with its footwear, but there's no guarantee of similar results in related businesses.
On Holding raised its outlook for full-year sales, expecting at least 31% constant-currency revenue growth. Wholesale channel revenue for the company also grew by 23.1% in Q2 2025.
Tariffs may pose a challenge to On's growth story, but the company appears to be navigating them with ease. For more detailed information, investors are advised to check On Holding’s official investor relations website or their recent earnings press release and presentation for Q2 2025 once published. These sources typically share updated sales and gross margin outlooks post-reporting.
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