On 11 August 2026, On Holding AG reported second-quarter sales of CHF 850.3 million and net income of CHF 105 million, swinging from a net loss a year earlier. The company raised its profit outlook on stronger gross margins and direct-to-consumer momentum, but trimmed full-year revenue growth guidance to the low 20 percent range, below earlier expectations of at least 23 percent constant currency growth. A slowdown in Americas growth and wholesale management raised questions about the balance between expansion and discipline, with the key risk being that softer demand in core markets could make the direct-to-consumer mix shift harder to sustain.
On Holding LtdLowers full-year revenue growth guidance to low 20% range, below prior expectations.
