Swiss shoemaker On Holding reported a record-breaking Q3 with sales increasing by 34% to $723 million, beating analyst estimates. Despite a decline in earnings to 17 cents per share, the company’s gross profit margin reached 60.6%, its highest level since the September 2021 IPO. The growth is attributed to a “disciplined approach” to full-price sales and a strong presence at the Paris Olympics. On Holding raised its full-year net sales guidance to at least 32% growth, with expectations of achieving a gross profit margin of 60.5%. This increase in earnings and sales positions the company for significant growth ahead.
Source: https://www.investors.com/news/on-holding-earnings-q3-record-sales-onon-stock