ON NYSE: ONON outlined a three-year growth plan centered on premium pricing, product innovation, retail expansion and new sports categories, targeting at least CHF 5.6 billion in net sales and an adjusted EBITDA margin of 22% or higher by 2029.
On Holding stock has struggled mightily this year. The company scored a win Friday—though it's yet to revive the shares.
On Holding (NYSE:ONON | ONON Price Prediction) shares are climbing Friday morning after reports that French soccer star Kylian Mbappé is joining the Swiss brand's push into football, taking it into cleats and match-day apparel for the first time in
ONON's 30% three-month slide reflects weak Americas wholesale trends and restrained sell-in, despite record DTC mix and new product launches.
On Holding AG (NYSE: ONON) is down 2.6% at $26.44 today, the footwear stock extending its recent slide to trade around two-year lows.
ONON's apparel sales gain 47.7% in Q2 2026, as tennis, running and DTC strength broaden growth beyond footwear and deepen consumer ties.
On Holding's sell-off looks more like the market pricing brand fatigue, while the evidence still points to franchise fatigue. The real pressure point is the U.S. wholesale sell-out. DTC growth, full-price gross margins, and strong early reception for newer products still argue against broad brand deterioration.
On Holding (ONON) reported earnings 30 days ago. What's next for the stock?
Zacks.com users have recently been watching On Holding (ONON) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
ONON's 27.2% monthly slide has reset its valuation, but tariff risks, wholesale restraint and rising costs cloud the near-term opportunity.
ONON's broad growth and stronger DTC mix support momentum, but rising costs, wholesale restraint and U.S. tariffs make the lower valuation a mixed entry point.
ONON raised its 2026 gross-margin floor to 65%, but new U.S. tariffs and restrained wholesale shipments put second-half execution in focus.