On misses Q2 sales estimates

Sportswear brand On Holding reported second-quarter net sales of 850.3 million Switzerland — Swiss francs ($1.05 billion), missing analysts' estimate of 878.16 million francs. The miss was attributed to a tougher consumer environment and higher costs from U.S. tariffs. On executives emphasized prioritizing profitability over sales volumes, and the company raised its full-year gross profit margin outlook to at least 65% from 64.5%. On also widened its full-year net sales outlook to 3.47-3.56 billion francs on a constant currency basis. Sales growth in the Americas slowed to 13% from 17% in the prior quarter, while Asia-Pacific sales rose 54.7%. The company's U.S.-listed shares fell 14% in premarket trading. On has been gaining market share from Nike, Inc. and Adidas.