On Holding Ag Class A (ONON) has released an update.
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On Holding AG, the Swiss sportswear brand, has announced a triumphant start to 2024 with a record-breaking first quarter, achieving over CHF 500 million in net sales for the first time and a substantial 20.9% year-over-year growth. The company’s direct-to-consumer sales soared by 39%, propelling a gross profit margin close to their mid-term target of 60%. This financial surge reflects On’s robust demand across all market segments and sets a confident tone for their full-year expectations of continued growth and profitability.
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