Sneaker-maker On Holding gains after annual sales forecast raise

On Holding AG

12/11/2024 10:49

** U.S.-listed shares of Swiss shoemaker On Holding  ONON.N 
up 2.5% at $54 in volatile premarket trading
    ** Roger Federer-backed ONON raises FY sales forecast to at
least CHF 2.29 bln ($2.60 bln) vs CHF 2.26 bln projected earlier
    ** Also beats Q3 revenue estimates on strong holiday season
demand for its new running shoes such as Cloud X4 and Cloudnova
2 at full price
    ** Company's Q3 adjusted EPS of CHF 0.16, however, misses
analysts' average estimate of CHF 0.20 - LSEG data
    ** Quarterly selling, general and administrative expenses
rise 36% to CHF 312.7 mln, owing to company's investments in
expansion and partnership
    ** So far this year, stock up 95% YTD

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))