By Daniella Parra
On Holding AG (NYSE: ONON) said it was raising its outlook for sales after a sixth consecutive record top-line quarter, reaching net sales of 52.3% to CHF 444.3 million.
The Swiss-designed running shoes and apparel company said it is raising its outlook for net sales to reach at least CHF 1.76 billion in FY 2023.
Gross profit increased 64.4% to CHF 264.5 million and adjusted EBITDA reached CHF 62.7 million, nearly doubling from the prior year period, the company said in a statement.
On reported increased DTC share of 36.8% and a high share of full-price sales, as well as the recent On athletes achieving 24 podium finishes in their respective national athletics championships, it said.
“We are thrilled that we are visibly progressing further on our strategy and ambition to win credibility and market share in the performance space,” said Co-CEO and CFO Martin Hoffmann. “In particular, we are extremely pleased with the feedback on our Cloudboom Echo 3, which was more broadly launched in Q2 and is our fastest long-distance running shoe yet.”
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