On Holding AG jumped nearly 20% in morining trading.Swiss running-shoe and apparel phenom On Holding AG (NYSE: ONON) topped forecasts and its Co-CEO said this is only the beginning of the journey.
The Zurich-based company, which counts Swiss tennis legend Roger Federer as both a brand partner and investor, reported record third-quarter net sales of CHF 218 million ($236 million). That reflects a 68% rise and easily exceeded a consensus estimate of CHF 183 million, driven by improvements across channels. The direct-to-consumer (DTC) business was especially strong, growing 93% during the quarter.