On Running Shoes Won't Be Running Black Friday Deals Despite 'Price-Competitive Environment'

Core Viewpoint - On Holding is adopting a full-price strategy for the holiday season, opting out of Black Friday discounts to reinforce its premium brand positioning [1][2]. Company Performance - On Holding reported Q3 net sales of 794.4 million Swiss francs ($994.3 million) and a net income of 118.9 million francs, significantly up from 30.5 million francs in the same quarter last year [4]. - The company raised its full-year sales guidance from 2.91 billion francs to 2.98 billion francs, indicating strong performance and optimism [4]. Competitive Landscape - Competitors like Adidas and Nike are engaging in early Black Friday promotions, contrasting with On's strategy [2]. - Nike anticipates a decrease in fiscal Q2 revenue and a drop in gross margins, with Q1 net income down 31% year over year [5]. - HOKA, owned by Deckers, is also promoting discounted holiday gifts, reflecting a different approach compared to On [3]. Market Trends - Deckers' brands, HOKA and UGG, saw sales increases of 11.1% and 10.1% year over year, while other brands under Deckers experienced a 26.5% decrease [7]. - Tariffs are influencing sales guidance adjustments for Nike and Deckers, as rising prices are affecting consumer purchasing behavior [8].