Footwear Maker On Holding Gains After Raising Annual Sales Forecast
Reuters05-14
** U.S.-listed shares of Swiss sports footwear maker On Holding up 5% at $32.26 premarket
** Company lifts annual sales forecast and tops expectations for Q1 net sales and adjusted profit on strong demand for its premium shoes
** ONON expects full-year 2024 reported net sales of at least CHF 2.29 billion ($2.52 billion), vs its earlier expectation of CHF 2.25 billion
** Q1 net sales rise 20.9% over a year ago to CHF 508.2 mln, beating analysts' average estimate of CHF 497.4 mln - LSEG data
** Q1 adj. profit of CHF 0.33/shr also tops estimates of CHF 0.14/shr
** As of last close, stock up 13.8% YTD
($1 = 0.9072 Swiss francs)
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