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Shares of performance sportswear company On Holding AG (NYSE:ONON) are trading higher in premarket on Tuesday after the fourth-quarter FY24 earnings.
The company reported fourth-quarter sales growth of 35.7% year-on-year to 606.6 million Swiss Francs ($691.47 million), beating the analyst consensus estimate of $594.49 million.
The strong performance was supported by On’s ability to convert on the rapid rise in brand awareness across the globe.
Direct to consumer sales increased 43.4% to CHF 296.2 million and that of wholesale climbed 29.1% to CHF 310.4 million.
Net sales in EMEA, Americas and Asia-Pacific increased …
