Newscasts - Sportswear brand On lifts annual targets again amid strong demand

Birkenstock Holding

12/11/2025 20:20

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_pr6b7usv&referenceId=tag:reuters.com,2025:newsml_RW154212112025RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: On Holding on Wednesday raised its annual revenue target for the third time this year and reported a blowout quarter, thanks to strong demand for its running shoes and sneakers despite price hikes. Lisa Bernhard has more.

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Video Transcript:

Shares of Sneaker Company On jumped as much as 27% on Wednesday after the company raised its annual revenue target for the third time this year and reported a blowout quarter. CEO Martin Hoffman told Reuters that demand for On's running shoes and other footwear remained strong in the third quarter, even as the company hiked certain prices and sold many items at their full retail price. Affluent consumers in the US, On's biggest market, continue to indulge in high end items such as coach handbags and Birkenstock clogs, in contrast to a broader slowdown in spending from lower income households. On's Cloud monster running shoe range starts at $170, while its Roger Pro tennis shoes, developed in collaboration with former tennis great Roger Fetterer sell for $220. Given the strong sales, CEO Hoffmann said On will aim to sell its trendy footwear at full prices during the discount heavy holiday shopping season. Full prices have also helped the company "easily digest President Trump's tariffs," Hoffman added, and even raise its full year margin forecast.