Overview
- Q3 revenue reached CHF 794.4 million with adjusted EPS of CHF 0.43, beating Wall Street estimates on both metrics.
- Full‑year 2025 guidance increased to 34% constant‑currency net sales growth, implying roughly CHF 2.98 billion in reported sales with higher gross‑margin and adjusted‑EBITDA targets.
- Gross margin expanded to about 65.7% in the quarter, supported by premium pricing and operational efficiencies, with guidance now around 62.5% for the year.
- Asia‑Pacific led regional performance with sales more than doubling on a constant‑currency basis, while the Americas and EMEA also grew and both direct‑to‑consumer and wholesale advanced; apparel posted outsized growth.
- Executives said the brand will keep holiday selling at full price with no Black Friday discount, highlighting innovation such as LightSpray and athlete validation like Hellen Obiri’s NYC Marathon win as drivers of demand; shares rose roughly 18–20% as analysts debated the durability of growth.