Overview
- Q3 revenue rose about 25% to 794.4 million Swiss francs and adjusted net income nearly tripled to 142 million francs, topping Wall Street expectations on sales and earnings.
- Full-year sales are now projected at 2.98 billion francs on a reported basis, reflecting 34% constant-currency growth and marking a third straight guidance increase.
- Direct-to-consumer and wholesale both advanced at double-digit rates, with the U.S. staying firm despite roughly 7% price hikes on select lifestyle products and Asia-Pacific up more than 100% in constant currency.
- Apparel revenue jumped 86.9% to 50.1 million francs, and the company sold over 1 million apparel pieces in the quarter for the first time as accessories growth also accelerated.
- On will keep holiday sales at full price and expand its premium footprint with about 20 to 25 new stores annually, even as analysts remain divided on how long the high growth can last given renewed competition from Nike.