On Holding AG's apparel category surged 47.7% year over year to CHF 54.2 million in the second quarter of 2026, up 56.2% on a constant-currency basis, as the segment rapidly gains scale beyond footwear. Tennis remained the fastest-growing apparel vertical, with sales nearly tripling in the quarter, while the Zendaya co-created collection exceeded expectations and the Volt collection lifted running apparel to a record 28% share of On Holding's running-campaign net sales. Companywide, second-quarter net sales rose 13.5% to CHF 850.3 million, direct-to-consumer sales climbed 26% and accounted for 45.7% of revenues, and gross margin expanded to 65.4%, with management guiding to constant-currency sales growth in the low-20% range for 2026. For comparison, Deckers Outdoor Corporation posted first-quarter fiscal 2027 sales of $1.02 billion, up 5.7%, including HOKA revenues of $704 million and UGG sales of $278 million, while Wolverine World Wide reported second-quarter 2026 revenues of $506.4 million, up 6.8%, with Sweaty Betty sales of $40.3 million, down 2.4% on a planned U.S. market reset. On Holding shares have lost 27.8% over the past three months against a 15.7% industry decline, and the stock carries a Zacks Rank #5 (Strong Sell).
On Holding LtdOn Holding's apparel sales jumped 47.7% to CHF 54.2M with tennis nearly tripling and Zendaya/Volt collections exceeding expectations.
Deckers Outdoor Corporation
Wolverine World Wide Inc
