English News Brief
Summary
Swiss sportswear brand On has raised its full-year sales guidance for the third consecutive quarter after reporting strong Q3 2025 results that exceeded Wall Street expectations. The company is pursuing a premium, full-price strategy, explicitly avoiding discounts during the holiday season, and credits its success to product innovation.
Key Points
- Financial Performance: Q3 revenue reached 794.4 million Swiss francs, up 25% year-over-year, beating estimates. Adjusted EPS was 47 cents, nearly double expectations.
- Raised Guidance: On increased its full-year 2025 sales forecast to 2.98 billion francs, up from 2.91 billion, anticipating 34% constant currency growth.
- Premium Strategy: The company will not offer Black Friday or holiday discounts, aiming to be the market’s most premium sportswear brand through innovation and full-price sales.
- Market Contrast: On’s growth and raised outlook contrast with competitors like Nike and Hoka, which are forecasting sales declines or slowdowns.
- Innovation Validation: Runner Hellen Obiri broke the NYC Marathon women’s record wearing On’s “LightSpray” technology shoes, validating the brand’s innovation focus.
中文新闻简报
总结
瑞士运动品牌昂跑（On）在公布超出华尔街预期的2025年第三季度业绩后，连续第三个季度上调了全年销售指引。公司坚持高端、全价销售策略，明确表示在假日季不提供折扣，并将其成功归因于产品创新。
关键点
- 财务表现：第三季度营收达到7.944亿瑞士法郎，同比增长约25%，超出预期。调整后每股收益为47分，几乎是预期的两倍。
- 上调指引：昂跑将2025年全年销售额预期从29.1亿法郎上调至29.8亿法郎，预计按固定汇率计算增长34%。
- 高端策略：公司表示在黑色星期五和整个假日季期间不会提供折扣，旨在通过创新和全价销售成为市场上最高端的运动品牌。
- 市场对比：昂跑的增长和上调预期与耐克、Hoka等竞争对手形成鲜明对比，后者正预计销售额下降或增长放缓。
- 创新验证：跑者海伦·奥比里本月早些时候穿着昂跑采用”LightSpray”技术制造的跑车，打破了纽约市马拉松女子纪录，验证了品牌的创新重点。
Original Article Link: https://www.cnbc.com/2025/11/12/on-onon-earnings-q3-2025.html