Overview
- Shares of Swiss sports brand On fell about 19% on the New York Stock Exchange after the company reported Q2 net sales of roughly 850.3–850.4 million CHF, below analyst forecasts.
- The share decline reduced Federer’s reported net worth to about $952.4 million, a one-day paper loss of roughly $52 million that removed him from the list of athletes worth over $1 billion.
- On’s reported operating results showed a net profit near 105 million CHF and higher gross margins, with management saying wholesale was limited to protect the brand’s premium positioning.
- Analysts cited in coverage described the stock move as a market valuation shock tied to missed revenue expectations rather than evidence of a structural business failure, making Federer’s billionaire status potentially reversible if the stock recovers.
- Federer’s wealth is heavily tied to off-court deals and equity stakes—most notably an estimated 2.5% stake in On and a reported ten-year Uniqlo contract—so short-term share swings can produce large, temporary changes in his reported net worth.