At running shoe brand On, sponsored by Swiss tennis star Roger Federer FOR There are indications that Christmas business will be stronger than expected. This made the board more confident about sales in 2024, as announced by the company listed on the New York Stock Exchange on Tuesday. On is now targeting sales of at least 2.29 billion francs instead of 2.26 billion. “The strong trend allows us to focus on the overall price,” ON boss Martin Hoffmann told Reuters. The sneaker and sportswear maker does not need any discounts during the Christmas season to fill the warehouses have to empty.
Just before the holiday season, On also responded to growing demand for shoes and clothing by expanding its own stores and opening flagship stores in New York, Melbourne and Milan.
In the third quarter, sales jumped 32.3 percent to 635.8 million francs, exceeding analysts’ estimate of 617.3 million. Retailers such as Nordstrom and Dick’s Sporting Goods are also offering On sports shoes in their stores, helping the Zurich company to increase wholesale sales by 23.2 percent to 389.1 million francs. However, during the expansion, sales and administrative costs, which rose by 36 percent to 312.7 million francs, reduced the output. Net profit fell to 30.5 (previous year: 58.7) million francs. One of On’s most prominent shareholders is Federer, who joined the company before the IPO and designed his own line of sports shoes. However, the 20-time winner’s participation in Grand Slam tournaments is unknown.
Like On, Adidas made a statement 
ADS strong seasonal sales due to growing interest in the retro-style Samba and Gazelle shoes by the Three Stripes. Meanwhile, US rival Nike was able to 
OF it was less convincing to their customers and they had to withdraw their annual forecasts.
2024-11-12 12:23:00
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