On Holding Reports Strong Q3 Sales Growth, Rules Out Black Friday Discounts

On Holding AG delivered a standout performance in Q3, with net sales surging 25% year-over-year to 794.4 million Swiss francs ($994.2 million), surpassing analyst estimates. The Roger Federer-backed sneaker brand now projects 34% full-year sales growth, up from prior guidance of 31%, while raising profitability targets across gross margin and EBITDA metrics.

Executive leadership struck a defiant tone on promotional activity, with co-founder Caspar Coppetti stating the company will maintain full pricing through the holiday season. "We won't be offering Black Friday deals," Coppetti told CNBC, signaling confidence in brand premiumization despite broader retail discounting trends.

The bullish outlook sent shares soaring 20% in Wednesday trading, extending On's year-to-date outperformance in the athletic apparel sector. Market observers note the results demonstrate pricing power resilience even as consumer spending shows early signs of fatigue in other discretionary categories.