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On Holding had another great year of growth as its running shoes keep winning over new fans. The company wants to make headway on profitability over the next three years.
In the competitive field of running shoes, On Holding is gaining a lot of traction. The footwear maker is catching on with athletes focused on performance.
This top video game stock is trading at a big discount to its competitors, despite a big growth catalyst on the horizon. This hidden gem is posting high-double-digit growth and record sales despite the pressured retail environment.
On's sponsored athletes have recently had some high-profile wins, which increase brand awareness, per management. The company uses a no-discounting policy and collaborations with luxury product retailers to maintain its premium product positioning.
Apparel stocks have struggled over the past year with margin fear, shifting consumer habits, inflation, and slowing growth as part of the narrative. Today's takeaway is that specialty apparel makers are rebounding within the group and have a positive outlook for the remainder of the year and next year.
Third-quarter sales surged 47% year over year. Adjusted earnings per share soared 186% year over year.
On Holding AG reported solid Q3 earnings and raised the guidance for the remainder or the year. ONON stock is trading at a slight premium to Nike and Lululemon, but it's justified given its growth rate. If the global economy doesn't fall off a cliff in 2024, On Holding will continue to perform well and take market share from competitors.
On Holding (ONON) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.07 per share a year ago.
The latest trading day saw On Holding (ONON) settling at $24.66, representing a -1.79% change from its previous close.
CNBC personality Jim Cramer is one of the most-watched stock gurus on TV. He hosts the network's “Mad Money” and “Squawk on the Street” shows.