With key footwear franchises continuing to selling well, On Holding AG remains a growth story but there could be pressures ahead in 2026. Wall Street expects On Holdings’ brand momentum to continue into the start of the first quarter, but that’s when the impact of tariffs could begin to be felt fully after becoming a headwind in the fourth quarter. More from WWD On is expected to report its fourth quarter and full-year earnings results on Tuesday. Needham’s Tom Nikic believes that On will remain a compe ...

Market Analysis by covering: S&P 500, MercadoLibre Inc, Chewy Inc, On Holding AG. Read 's Market Analysis on Investing.com ...

Nike (NYSE: NKE) stock continues to falter as the athletic giant tries to find its footing, but its industry peers aren't doing much better. Nike stock is down 15% over the past year, but newcomer On Holding (NYSE: ONON) is down 11%, and Lululemon Athletica has lost half of its value. Nike and On are two sides of the same coin. Nike represents the established industry leader, while On is the new and exciting start-up. Let's see which one is the better buy today. Will AI create the world's first trillionair ...

每经AI快讯，2月20日，安德玛（Under Armour）和昂跑（On Holding）的股价均上涨约4%。 ...

Industry Overview - The Retail - Apparel and Shoes industry started 2026 on a stable note despite a volatile macroeconomic environment, with demand increasingly influenced by selective, value-conscious consumers and rapid trend cycles [1] - The industry is currently ranked in the top 15% of the Zacks Industry Rank, indicating an expectation to outperform the market over the next three to six months [1] Recommended Stocks - Five apparel and shoes stocks with a top Zacks Rank for a stable portfolio are Deckers Outdoor Corp. (DECK), On Holding AG (ONON), Tapestry Inc. (TPR), American Eagle Outfitters Inc. (AEO), and FIGS Inc. (FIGS), all holding a Zacks Rank 1 (Strong Buy) [2] Deckers Outdoor Corp. (DECK) - Deckers Outdoor is experiencing solid momentum, driven by strong execution across its HOKA and UGG brands, with HOKA being the key growth engine supported by expanding global demand [5] - The company is seeing accelerated growth in international markets, enhancing long-term earnings visibility beyond the U.S., while maintaining pricing discipline and cost controls to support margin resilience [6] - Expected revenue and earnings growth rates for DECK are 8.6% and 8.7%, respectively, for the current fiscal year ending March 2026, with a 0.7% improvement in the Zacks Consensus Estimate for earnings over the last seven days [7] On Holding AG (ONON) - On Holding specializes in footwear and sports apparel, offering products through various channels including independent retailers and online platforms [9] - The expected revenue and earnings growth rates for ONON are 21% and 82.8%, respectively, for the current year, with a 0.6% improvement in the Zacks Consensus Estimate for earnings over the last 60 days [9] Tapestry Inc. (TPR) - Tapestry is strengthening its position as a leading global house of brands, driven by strong performance from Coach, effectively attracting Gen Z consumers and achieving growth in unit volume and pricing power [10] - The adjusted gross margin for TPR rose by 110 basis points in Q2 of fiscal 2026, with international markets providing further growth opportunities [11] - Expected revenue and earnings growth rates for TPR are 9.6% and 23.7%, respectively, for the current year ending June 2026, with a 1.6% improvement in the Zacks Consensus Estimate for earnings over the last seven days [12] American Eagle Outfitters Inc. (AEO) - AEO is benefiting from brand strength and solid demand, with a better-than-expected holiday season prompting an increase in its operating income outlook [13] - The company has seen balanced performance across channels, with both stores and digital contributing positively [14] - Expected revenue and earnings growth rates for AEO are 3.4% and 23.1%, respectively, for the current year ending January 2027, with a 3% improvement in the Zacks Consensus Estimate for earnings over the last 30 days [16] FIGS Inc. (FIGS) - FIGS is a direct-to-consumer healthcare apparel and lifestyle brand, creating advanced apparel for healthcare professionals through its digital platform and retail stores [17] - Expected revenue and earnings growth rates for FIGS are 5.4% and 1.5%, respectively, for the current year, with the Zacks Consensus Estimate for earnings remaining flat over the last 30 days [18]

Group 1 - On Holding AG (NYSE:ONON) is currently considered one of the best foreign stocks to buy, with Bernstein SocGen Group reaffirming its Outperform rating and maintaining a price target of $70, despite a 15% drop in stock price in 2025 [1][3] - Bernstein describes On Holding as the most compelling long-term compounder in the global sportswear market, indicating strong potential for double-digit sales and profit growth due to a solid expansion plan [3] - Stifel analyst Jim Duffy also reiterated a Buy rating on On Holding, maintaining a price target of $60, influenced by the announcement of a new Chief Financial Officer [4] Group 2 - The new CFO, Frank Sluis, will begin his role on May 1, 2026, following a search that started in April 2025 to separate the combined CEO/CFO position previously held by Martin Hoffmann [5] - Sluis has a background in managing scaled global consumer businesses, particularly at Ahold Delhaize, which aligns with On Holding's market opportunities [5] - On Holding AG is a Swiss company known for designing and manufacturing premium athletic footwear, apparel, and accessories, particularly recognized for its patented CloudTec cushioning technology [6]

Core Insights - Emerging brands are showing strong competitive positioning that can lead to long-term growth opportunities [1] - Identifying these brands early can uncover significant investment potential, despite the volatility in their stock prices [1] E.l.f. Beauty - E.l.f. Beauty has seen a stock decline of 67% but continues to be a leading cosmetics brand with a strategy focused on premium products at competitive prices [4][6] - The company has grown its trailing-12-month revenue from $578 million to $1.52 billion over the past three years, indicating strong growth [5] - In the recent quarter, net sales increased by 38% year over year to $489 million, despite a challenging consumer spending environment [8] - E.l.f. Beauty's market cap is currently $4.4 billion, with a forward price-to-earnings (P/E) multiple of 24, which is considered reasonable for a fast-growing brand [8] On Holding - On Holding's stock has decreased by 29% from recent highs, but the brand shows significant growth potential with a 35% year-over-year sales increase on a constant-currency basis [9] - The company has a market cap of $15 billion and a forward P/E of 26, which is attractive given its sales and earnings growth exceeding 30% year over year [13] - On Holding maintains strong pricing power, indicating a durable brand that can sustain premium pricing without resorting to discounts [11][12]

Core Insights - On, a Swiss performance sportswear brand, will release its fourth quarter and full year 2025 financial results on March 3, 2026, before U.S. markets open [1] - The management will host an earnings conference call at 8 a.m. U.S. Eastern Time on the same day [1] - On was founded in 2010 with a mission to inspire movement and has since developed innovative products in footwear, apparel, and accessories for various activities [1] Financial Results Announcement - The financial results will be available before the opening of U.S. financial markets on March 3, 2026 [1] - A live conference call will be accessible via telephone and webcast, with details provided for participants from the U.S., the UK, and Switzerland [1] - A recording of the conference call will be made available on the company's investor relations website after the event [1] Company Background - On was established in the Swiss Alps and focuses on high-performance running, outdoor activities, and training [1] - The brand has gained a global presence in over 80 countries and has a growing digital community [1] - On's innovations, such as CloudTec® and LightSpray™, have contributed to its reputation in the circular economy and premium sportswear market [1]

Company Performance - On Holding (ONON) shares decreased by 3.94% to $44.13, underperforming the S&P 500's daily loss of 0.84% [1] - Prior to the recent trading session, shares had declined by 6.24%, lagging behind the Retail-Wholesale sector's gain of 6.19% and the S&P 500's gain of 1.8% [2] Earnings Forecast - The upcoming earnings disclosure is anticipated to show an EPS of $0.26, reflecting a 31.58% decrease from the same quarter last year [3] - The Zacks Consensus Estimate projects net sales of $896.42 million, which is a 29.68% increase from the previous year [3] - For the entire fiscal year, earnings are projected at $0.94 per share, down 14.55% from the prior year, while revenue is expected to reach $3.73 billion, up 41.37% [4] Analyst Estimates and Rankings - Recent changes in analyst estimates indicate a direct relationship with stock price performance, with positive revisions suggesting analyst optimism [5] - On Holding currently holds a Zacks Rank of 1 (Strong Buy), which has historically outperformed with an average annual return of +25% since 1988 [6] Valuation Metrics - On Holding has a Forward P/E ratio of 26.8, which is higher than the industry average of 16.89, indicating it is trading at a premium [7] - The company has a PEG ratio of 1.14, compared to the industry average PEG ratio of 1.94, suggesting a favorable growth outlook relative to its valuation [8] Industry Context - The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector, holding a Zacks Industry Rank of 45, placing it in the top 19% of over 250 industries [9]

Core Insights - On Holding (NYSE:ONON) is projected to double by 2030 despite a recent downgrade by Williams Trading from Buy to Hold, with a revised price target of $47 down from $55 due to concerns over product segmentation decisions [1][7] Financial Performance - In Q3 2025, On Holding's apparel category saw significant growth, surpassing 1 million units sold for the first time, with sales increasing by 86.9% to CHF50.1 million. Footwear sales also grew by 21.1%, reaching CHF731.3 million [3] - Following these results, On Holding raised its full-year 2025 constant currency sales growth guidance to 34%, up from a previous forecast of at least 31% [3] Market Trends - The company is expected to experience a deceleration in wholesale order growth in the Americas for FY2026, with similar slowdowns anticipated in Europe for the foreseeable future [2] - Increased direct-to-consumer costs are likely to exert pressure on EBIT margins over time [2] Company Overview - On Holding develops and distributes a range of sports products globally, including athletic footwear, apparel, and accessories for various activities such as running, outdoor sports, training, and tennis [4]