“There’s gonna be a big presence in DC, but it’s not just DC — I want to see this in rural areas, in suburban areas, in urban areas, in red states,...

Roger Federer perdió 52 millones de dólares tras el desplome de On Holding y su fortuna cayó por debajo de los 1.000 millones, según Forbes.

On Holding turned a year-ago loss into a CHF 105 million profit and hit record margins, but a sales miss and slowing U.S. growth were enough to spook investors. The Swiss sneaker brand is intentionally pulling back on wholesale to protect its pricing power — a bold bet that Wall Street isn't buying right now.

Key takeaways On Holding, het sportkledingbedrijf ondersteund door tennislegende Roger Federer, heeft zijn omzetverwachting voor dit jaar verhoogd. Deze positieve vooruitzichten komen door de sterke vraag, aangewakkerd door succesvolle promoties en de lancering van nieuwe producten. Het bedrijf verwacht echter prijsaanpassingen te moeten doorvoeren om de impact van de door de Amerikaanse regering opgelegde invoerrechten […]

On Holding named two co-founders as co-CEOs on Mar 25, 2026; markets will watch gross margin, DTC comps, and KPI targets over the next 2–4 quarters (source: Investing.com).

Investing.com -- Jefferies has shifted its outlook on On Holding (NYSE:ONON), downgrading the Swiss sportswear company to an “underperform” rating while pointing to Nike (NYSE:NKE) as the brand capturing stronger momentum in running shoe demand, in a note dated Monday. In its latest industry report, Jefferies said 2025 is likely to mark the peak of On’s sales growth, with expansion in U.S. retail outlets slowing and retailer orders beginning to shift back to Nike in 2026. Analysts cited On’s high prices and narrow product range as limiting its total addressable market. The brokerage now projects sales and EBITDA estimates to fall about 5% and 10% below Wall Street consensus, with valuation multiples expected to compress. Jefferies set a $40 price target for On, compared with a bear case target of $30. The brokerage flagged Nike’s strength in the running category, noting that the Vomero Plus is outperforming On’s Cloudsurfer Max in both consumer interest and retail sell-through. Google Trends data showed materially higher search volume for Nike’s model, while sales at Dick’s Sporting Goods indicated the Vomero was selling out. This trend, Jefferies said, aligns with Nike’s recent commentary about a stronger order book heading into the holiday season. Jefferies maintained a “buy” rating on Nike, setting a $115 price target based on its fiscal 2027 estimates. Analysts pointed to the brand’s new product momentum as a key factor in sustaining consumer demand in the competitive running footwear market.

Investing.com -- Raymond James downgraded ON Holding AG to Outperform from Strong Buy given the near-term macro pressures including currency volatility and higher tariffs, though it maintained a positive long-term outlook on the Swiss sportswear brand. The firm cut earnings estimates for 2025 due to the stronger Swiss franc and updated tariff assumptions, as about 90% of ONON’s footwear is sourced from Vietnam. While DTC momentum appears healthy, wholesale growth is expected to slow sequentially in Q2 following earlier front-loaded inventory shipments tied to product launches. “We see 2Q being less clean due to FX, tariffs, and slower Wholesale growth, due to timing of launches” the note said, adding that these factors are expected to weigh on margins and reported growth despite solid underlying demand. “We remain bullish on ONON as a long-term story and believe underlying demand and growth will remain strong in 2025 and beyond” The firm now models revenue growth of 23.7% and gross margin of 59.8% in Q2, below Street estimates. Still, Raymond James pointed to continued strength in ONON’s direct-to-consumer business — aided by robust web traffic and search trends, and emphasized growth opportunities across newer segments like apparel, retail, and the Asia-Pacific region. The Cloud 6 running shoe, priced above its predecessor, is helping support pricing power even amid margin pressures. The firm now assumes an 8% FX headwind for 2025 and widened its tariff impact estimates, trimming gross margin forecasts by 60 basis points to 60.0%. ONON’s EBITDA margin is still expected to expand to 16.9% in 2025. Despite the downgrade, the report reiterated confidence in ONON’s brand strength, innovation pipeline, and global distribution expansion, particularly in China, with expectations for stronger growth in the second half of the year. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if ONON is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

On Holding and Other Shoe Stocks That Have a Leg Up  Barron's

Principaux renseignements On Holding, l’entreprise de vêtements de sport soutenue par la légende du tennis Roger Federer a revu à la hausse ses prévisions de ventes annuelles. Ces perspectives positives s’expliquent par une demande soutenue, alimentée par des campagnes promotionnelles réussies et l’introduction de nouveaux produits. Toutefois, la société prévoit la nécessité de procéder à […]