Sportswear brand On rises after lifting annual profit margin target

ReutersMay 12, 2026 9:36 AM

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U.S.-listed shares of sportswear brand On Holding ONON.N up 5% at $35.79 premarket

Company lifts annual profit margin forecast after beating Q1 sales estimates, helped by demand for its pricey running shoes, such as Cloudtilt, from affluent, younger customers

Q1 sales jump 14.5% to 831.9 million Swiss francs ($1.07 billion), topping estimates of 822.5 million francs

ONON expects annual operating profit margin of between 19.5% and 20%, up from 18.5% to 19% previously

Also targets gross profit margin of at least 64.5%, up from at least 63.0% expected earlier

ONON maintains annual net sales target of at least 23% year-on-year growth

Up to last close, stock down about 26% so far this year

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