On Holding Stock Reaches Record Levels on Strong Sales Performance

Tuesday, 14 May 2024, 15:23

On Holding stock reached a new 52-week high fueled by record sales and significant growth in direct-to-consumer (DTC) sales. The company reported an impressive net profit margin of 18% in the first quarter of 2024.
https://store.livarava.com/fc77677b-1206-11ef-a6c2-63e1980711b2.jpg
On Holding Stock Reaches Record Levels on Strong Sales Performance

Fueling the Surge

Sales are surging as awareness grows. Shares of shoe company On Holding (NYSE: ONON) jumped to new 52-week highs on Tuesday after the company reported financial results for the first quarter of 2024. As of 10:30 a.m. ET, On stock was up 15%.

Direct-to-Consumer Growth

On's Q1 outperformance was driven by direct-to-consumer (DTC) sales. The company's DTC sales were up 49% when adjusted for currency fluctuations and accounted for nearly 38% of its total net sales. DTC sales have higher profit margins as well and On consequently achieved an impressive net profit margin of 18%.

Future Potential

The growth stock has significant potential with a surge in consumer awareness driving sales growth and profitability. Investors may consider On Holding as a high-growth investment opportunity with favorable prospects.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe