Overview

• On Holding reported Q2 net sales of CHF 749.2 million, marking a year-on-year increase of over 32% and outpacing analysts’ projections
• Direct-to-consumer revenue surged 47% to CHF 308.3 million, accounting for roughly 41% of total sales and setting a new quarterly record
• Apparel sales jumped around 67.5%, prompting management to target 10% of revenue from the category and previewing a Zendaya-co-created collection arriving in September
• The company recorded a net loss of CHF 40.9 million, which executives attributed to Swiss franc strength and accounting effects rather than operational performance
• Executives cited pricing power, product mix and operational efficiencies to absorb U.S. tariff increases and confirmed plans for further retail expansion and near-shore LightSpray manufacturing in Zurich