On’s Growth Likely to Come From Asia and EMEA in 2026 as North American Business ‘Matures’

With key footwear franchises continuing to selling well, On Holding AG remains a growth story but there could be pressures ahead in 2026. Wall Street expects On Holdings’ brand momentum to continue into the start of the first quarter, but that’s when the impact of tariffs could begin to be felt fully after becoming a headwind in the fourth quarter. More from WWD On is expected to report its fourth quarter and full-year earnings results on Tuesday. Needham’s Tom Nikic believes that On will remain a compe ...