Financial Data and Key Metrics Changes - Net sales reached CHF 726 million, reflecting a year-over-year growth of 40% on a constant currency basis, marking the highest quarterly net sales in the company's history [6][24] - Gross profit margin increased to 59.9%, up from 59.7% in Q1 2024, driven by an increased direct-to-consumer (DTC) share [36] - Adjusted EBITDA margin for Q1 reached 16.5%, up from 15.2% in the same period last year [37] - Net income was CHF 56.7 million, despite a sizable unrealized foreign exchange loss [38] Business Line Data and Key Metrics Changes - DTC channel net sales grew by 45.3% year-over-year, reaching CHF 276.9 million, with DTC share increasing to 38.1% [24] - Wholesale sales grew by 41.5% year-over-year, reaching CHF 449.7 million [27] - Apparel net sales reached CHF 38.1 million, increasing by 93.1% year-over-year, marking the highest quarterly net sales in history for this category [34] Market Data and Key Metrics Changes - Europe, Middle East, and Africa (EMEA) region grew by 33.6% year-over-year, reaching CHF 168.6 million [28] - The Americas saw net sales growth of 32.7% year-over-year, totaling CHF 437.4 million [29] - Asia Pacific region experienced a remarkable growth of 130.1% year-over-year, reaching CHF 120.6 million [30] Company Strategy and Development Direction - The company is committed to maintaining its premium brand positioning and product promise, which is seen as a key differentiator in the market [8][41] - Focus on continuous product innovation and strategic partnerships to enhance brand awareness and cultural relevance [12][14] - Plans to expand retail presence while maintaining a controlled pace in store openings, aiming for 20 to 25 new stores annually [84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's strong momentum and consumer demand, despite macroeconomic uncertainties and potential tariff impacts [40][41] - The company has increased its constant currency growth rate outlook for 2025 to at least 28%, projecting reported net sales to reach at least CHF 1 billion [42] - Management emphasized the importance of operational efficiencies and strategic investments to drive long-term sustainable growth [44] Other Important Information - The company announced a leadership transition, with Martin Hoffmann stepping into the role of sole CEO from July 1 [16] - The introduction of innovative products like LightSpray is expected to define the future of sportswear and enhance operational capabilities [14][15] Q&A Session Summary Question: Brand awareness and growth drivers in the Americas - Management highlighted that brand efforts and campaigns have significantly increased brand awareness, contributing to strong growth in the Americas [48][49] Question: Improved constant currency growth outlook - Management confirmed that all regions are performing well, with strong growth expected across all channels [58][60] Question: Mitigation efforts for tariff impacts - Management stated that the outlook assumes current tariffs and emphasized the brand's ability to increase prices to mitigate impacts [68][70] Question: Success of the apparel offering - Management noted that harmonized sizing and targeted campaigns have driven significant success in the apparel category [74][76] Question: Store rollout performance - Management reported that 18 out of 20 stores outside China have exceeded expectations, contributing positively to revenue and margins [82][84] Question: Wholesale channel outlook - Management indicated that there are no cancellations in the wholesale order book and that demand remains strong [100][101] Question: Changes in strategy with leadership transition - Management reassured that the strategy remains unchanged and that the internal team is strong and capable [107]

Company Performance - On Holding (ONON) reported quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share, and down from $0.38 per share a year ago, representing an earnings surprise of -4.17% [1] - The company posted revenues of $808.1 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.76%, compared to year-ago revenues of $581.41 million [2] - Over the last four quarters, On Holding has surpassed consensus EPS estimates just once, but has topped consensus revenue estimates three times [2] Stock Performance and Outlook - On Holding shares have lost about 6.3% since the beginning of the year, while the S&P 500 has declined by -0.6% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at $0.29 on revenues of $835.81 million, and $1.18 on revenues of $3.4 billion for the current fiscal year [7] - The current Zacks Rank for On Holding is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Industry Context - The Retail - Apparel and Shoes industry, to which On Holding belongs, is currently in the bottom 39% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Genesco (GCO), another company in the same industry, is expected to report a quarterly loss of $2.06 per share, with revenues projected at $463.91 million, reflecting a year-over-year increase of 1.4% [9]

Core Viewpoint - On Holding AG (ONON) is expected to report its first-quarter 2025 results on May 13, with earnings per share estimated at 24 cents, reflecting a 36.8% decline from the previous year, while revenues are projected to increase by 34% to approximately $778.9 million [1][2]. Group 1: Earnings Performance - ONON has beaten the Zacks Consensus Estimate in two of the last four quarters, with an average surprise of 45.6% [1]. - The earnings per share estimate for the first quarter indicates a significant decline compared to the same quarter last year [2]. Group 2: Revenue Expectations - The consensus revenue estimate for the first quarter is nearly $778.9 million, suggesting a 34% increase from the previous year's figure [2]. Group 3: Factors Influencing Performance - The company's performance is anticipated to benefit from strong direct-to-consumer traction, global expansion, and ongoing product innovation, particularly among younger consumers [3]. - Key product launches, including Cloudmonster, Cloudsurfer, and Cloud 6, are expected to support the company's performance [3]. Group 4: Direct-to-Consumer Strategy - ONON's direct-to-consumer strategy, which includes retail and e-commerce, is a primary growth driver, supported by high brand engagement and creative marketing campaigns [4]. - The company has leveraged significant marketing initiatives, including a Super Bowl advertisement featuring Roger Federer and Elmo, to enhance traffic and conversion rates [4]. Group 5: Geographic Performance - The Asia-Pacific region, especially China, Japan, and Southeast Asia, has shown accelerated growth due to retail expansion and targeted campaigns [5]. - In Europe, brand-building efforts and a strong retail presence in cities like Paris and Milan have contributed to performance, while in the Americas, premium positioning and selective partnerships have fueled growth [5]. Group 6: Cost Considerations - Increased investments in brand marketing and technology infrastructure may have impacted margins, alongside transitional costs from a new automated warehouse in Atlanta [6]. - Foreign exchange fluctuations, particularly between the U.S. dollar and Swiss franc, could also affect margins in the first quarter [6]. Group 7: Earnings Prediction Model - The model predicts an earnings beat for ONON, supported by a positive Earnings ESP of +4.17% and a Zacks Rank of 3 [7].

On Holding AG (NYSE: ONON ) has continued the company’s hot streak. The running shoe company has attracted consumers with innovative and comfortable designs, translating into rapid topline expansion as On continues to capture notable market share from competition. The stock’s performance clearly reliesI am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revo ...

Company Performance - On Holding (ONON) closed at $48.20, reflecting a -1.41% change from the previous day, underperforming the S&P 500, which fell by 0.77% [1] - Over the past month, shares of On Holding have increased by 19.33%, surpassing the Retail-Wholesale sector's gain of 9.54% and the S&P 500's gain of 11.54% [1] Upcoming Earnings Report - On Holding is set to release its earnings report on May 13, 2025, with an expected EPS of $0.24, indicating a 36.84% decrease from the same quarter last year [2] - The consensus estimate for revenue is $773.88 million, representing a 33.1% increase from the prior-year quarter [2] Fiscal Year Estimates - For the entire fiscal year, Zacks Consensus Estimates predict earnings of $1.19 per share and revenue of $3.39 billion, reflecting changes of +8.18% and +28.48% respectively from the previous year [3] - Analysts' estimate revisions are crucial as they indicate the evolving nature of business trends, with positive revisions suggesting optimism about the company's profitability [3] Valuation Metrics - On Holding currently has a Forward P/E ratio of 41.08, which is significantly higher than the industry average Forward P/E of 13.78 [6] - The company's PEG ratio stands at 1.96, compared to the industry average PEG ratio of 1.43 [6] Industry Context - The Retail - Apparel and Shoes industry, which includes On Holding, has a Zacks Industry Rank of 186, placing it in the bottom 25% of over 250 industries [7] - Historically, the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

The market expects On Holding (ONON) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 13, 2025, might help the stock move higher if these key numbers are bette ...

Economic Overview - Low to middle-income consumers are reducing spending to pay down credit card debt, while affluent consumers continue to spend selectively [1][2] - The economy is divided, with strong revenue and earnings growth reported by many companies despite market uncertainty [2] Company Analysis: Tapestry Inc. (TPR) - Tapestry is known for luxury accessories and lifestyle products, with a current stock price of $70.65 and a price target of $78.00, indicating a 12% upside potential [3][5] - The company reported record earnings per share of $2 in Q2 FY2025 and achieved a net paydown yield of 38% over the last 12 months [4][5] - Analysts have a Moderate Buy rating on TPR, with some price targets adjusted but remaining above the consensus price [5][6] Company Analysis: On Holding AG (ONON) - On Holding specializes in high-end footwear and apparel, with a current stock price of $48.11 and a price target of $58.77, suggesting a 23% increase potential [7][10] - The company uses over 30% recycled or renewable materials in its products, appealing to younger consumers [8] - Despite a recent double beat in earnings, ONON stock is down over 13% in 2025 due to concerns over exposure to China amid tariff issues [9][10] Company Analysis: Viking Holdings Ltd. (VIK) - Viking Holdings, a newcomer in the luxury cruise market, has a current stock price of $41.02 and a price target of $46.89, indicating potential growth [12] - The company is 88% booked for 2025 and does not anticipate cancellations due to market weakness, suggesting resilience in the cruise line industry [14] - Despite volatility typical of newly public companies, VIK stock has increased nearly 50% since its launch [14]

Core Insights - On has opened its first flagship store in Chengdu, marking the end of a five-year exploration period in China [1][3] - The company plans to expand its store count in China to over 100 by 2026, currently operating 66 stores [1][3] - On's new Cloudboom Strike LS shoe, featuring innovative LightSpray™ technology, aims to enhance production efficiency and comfort [5][6] Group 1: Store Expansion - The flagship store in Chengdu covers 500 square meters and showcases a variety of products for different sports [1][3] - On's strategy emphasizes the need for more self-operated retail stores in China, moving away from reliance on wholesale channels [3] - The company aims to open more flagship stores in both China and other regions in the future [1][3] Group 2: Product Innovation - The Cloudboom Strike LS is the first mass-produced racing shoe using LightSpray™, a technology that simplifies the manufacturing process [5][6] - The shoe weighs only 170 grams, making it lighter than competitors, which is crucial for professional runners [6] - On's team has developed a unique formula for the shoe's material, enhancing durability and comfort [5] Group 3: Financial Performance - On's annual compound growth rate from 2021 to 2024 exceeds 47% [7] - In 2024, the company reported a net revenue of 2.318 billion Swiss francs (approximately 19 billion RMB), a year-on-year increase of 29.4% [7] - The net profit for 2024 reached 242 million Swiss francs (approximately 1.984 billion RMB), showing a remarkable growth of 204% [7]

James Anderson Provides Update on Holdings of MyndTec Inc.April 24, 2025 5:16 PM EDT | Source: James AndersonDetroit, Michigan--(Newsfile Corp. - April 24, 2025) - James Anderson (the "Investor") announces update to his ownership of common shares in the capital of MyndTec Inc. (the "Issuer") (the "Common Shares") and common share purchase warrants of the Issuer (the "Warrants").On April 24, 2025, the Issuer completed the first tranche (the "First Tranche") of a private placement of units ("Uni ...

Investors with an interest in Retail - Apparel and Shoes stocks have likely encountered both Gap (GAP) and On Holding (ONON) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revi ...