Athletics brand On has achieved a record-breaking Q2, with net sales soaring by 52.3% YoY to 444.3 million Swiss francs ($506.5 million). Although net income dropped by 93.3% to 3.3 million Swiss francs, the gross profit margin rose from 55.1% to 59.5%. The brand’s direct-to-consumer (DTC) net sales surged by 54.7% to 163.5 million Swiss francs, while wholesale grew by 51% to 280.8 million Swiss francs, increasing On’s DTC channel share to 36.8%. On is confident in its DTC strategy, with new product introductions and strategic wholesale partnerships contributing to its strong performance. The company raised its fiscal-year net sales outlook to at least 1.76 billion Swiss francs.
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