By Connor Hart

On Holding lifted its forecast for the year, bucking recent struggles for running shoe makers, sending shares higher.

The Swiss athletic shoemaker before the bell Wednesday said it now expects full-year net sales to be up at least 34% from 2024, to at least 2.98 billion Swiss francs ($3.72 billion). It had previously guided for sales to climb 31%, to at least 2.91 billion Swiss francs.

Analysts polled by FactSet are looking for sales of 2.97 billion Swiss francs for the year.

The stock climbed 14% to $40 in premarket trading Wednesday. Through Tuesday's close, shares have lost about one-third of their value over the past year.

On Holding additionally lifted its gross-profit margin outlook to around 62.5% from the prior range of 60.5% to 61%. The company now projects its margin for adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--to be above 18%, compared with a prior view of 17% to 17.5%.

Chief Executive Martin Hoffmann said the company is benefiting from its premium positioning, as well as the growing momentum of its apparel business. On, which logged higher profit and sales in the third quarter, is well positioned for a successful holiday season, he added.

That confidence comes in contrast to other shoemakers. Hoka maker Deckers Outdoor said last month that it expects consumers to act increasingly cautious over the next few months, pressuring its top line as the full effect of tariffs and higher prices comes to the U.S. And while Nike posted a surprise sales increase in its latest quarter, the company warned that weakness in China may stymie some turnaround progress going forward.

For its three months ended Sept. 30, On posted a profit of 118.9 million Swiss francs, or 36 cents a share in francs, compared with 30.5 million Swiss francs, or 9 cents a share in francs, a year earlier.

Stripping out certain one-time items, earnings came in at 43 cents a share in francs. Analysts had expected adjusted earnings of 26 cents a share in francs.

Net sales rose to 794.4 million Swiss francs from 635.8 million Swiss francs a year earlier and topped the 763 million Swiss francs that Wall Street modeled.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 12, 2025 08:39 ET (13:39 GMT)

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