"We view the 2Q24 result as better than we expected and pointing to strong demand for the brand," said Cristina Fernandez, emphasizing consumer interest in On's products. The analytics indicate that the company's strategy of directly engaging consumers greatly benefits sales initiatives.
Founded in 2010, On is a relative newcomer to the sports world, having expanded rapidly across Europe and North America. This transformation from an upstart to a more established player highlights its successful strategy to penetrate the market against giants like Nike and Adidas.
On affirmed its full-year forecast of sales growing by at least 30%, indicating a strong ambition and need for accelerated performance in the latter half of the year, which will be essential to meet projected growth targets.
The company's sales kicked up 28% from a year earlier in the second quarter, with expectations slightly ahead of analysts’ estimates, showcasing a significant consumer appetite that has helped drive shares higher by about 50% this year.
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