On Holding LtdONON
▼ NegativeCapitalrelevance
Cut full-year sales guidance and missed Q2 revenue estimates, despite insider buying.
Impact on stocks 2
Consumer Discretionary
On Holding Ltd
Nike IncNKE
Mentioned
On Holding insiders are buying the dip after the athletic footwear maker cut full-year sales guidance and missed second-quarter revenue estimates. CEO Caspar Coppetti and co-founder Olivier Bernhard each purchased 65,000 shares on August 14, a few days after the company reported results. Revenue grew 22% at constant currency, a deceleration of about 480 basis points from the prior quarter, while wholesale grew just 12.7% as management deliberately held back shipments to avoid discounting. Gross margin rose to 65.4%, up 390 basis points year over year, and adjusted EBITDA margin expanded 160 basis points to 19.8%. The stock is down about 33% this year, and its forward earnings multiple has fallen roughly 70% below its own five-year average.
On Holding LtdCut full-year sales guidance and missed Q2 revenue estimates, despite insider buying.
Nike Inc