On reported third-quarter sales of CHF 931.4 million on November 10, up 17.2% from a year earlier, as its direct-to-consumer business expanded faster than wholesale. It was the sportswear company’s first quarter above CHF 900 million, according to its results announcement.
Direct-to-consumer sales rose 25% to CHF 393.3 million and accounted for 42.2% of revenue. Wholesale increased 12.2% to CHF 538.2 million. Shoe sales grew 15.4% to CHF 843.7 million, while apparel rose 38.7% to CHF 69.5 million. These growth rates are reported in Swiss francs.
Gross margin reached 72.6%, including CHF 52.6 million in U.S. tariff refunds. Excluding those refunds, it was 66.9%. Net income rose 36.9% to CHF 162.8 million.
On retained its full-year forecast for sales growth in the low twenties on a constant-currency basis. It raised its gross-margin outlook excluding tariff refunds to around 66%, from at least 65%.
The company cited the Cloudsurfer 3’s run-specialty pre-launch, Cloudtilt sneakers and apparel as growth contributors. The accompanying photographs show its October Cloudsurfer 3 campaign.
