Roger Federer-backed On Holding falls as FY net sales forecast below estimates

On Holding AG

12/03/2024 10:13

** Shares of Swiss shoemaker On Holding  ONON.N  down 11.1%
at $29.50 premarket
    ** Firm forecasts first-quarter and annual net sales below
market estimates in signs of softening demand for its pricier
sports shoes in a choppy macro environment
    ** On Holding expects full-year 2024 net sales of at least
CHF 2.25 billion ($2.57 billion), below the LSEG estimate of CHF
2.33 billion
    ** Expects first-quarter net sales of CHF 495 million,
compared with market expectations of CHF 526 million
    ** Also reports Q4 adjusted loss per share of 5 cents,
compared with the LSEG estimate of a profit of 11 cents per
share
    ** In 2023, stock rose 57.2%

($1 = 0.8762 Swiss francs)

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))