Building momentum: After reporting record sales and profitability in Q3, On Holding slightly raised its annual sales forecast to CHF 2.29 billion ($2.59 billion), up from CHF 2.26 billion ($2.56 billion).

That bullishness stemmed from its strong Q3 results.

• Net sales grew 32.3% YoY to CHF 635.8 million ($720.4 million), or 33.2% on a constant-currency basis. That’s ahead of the CHF 617.3 million ($699.4 million) analysts expected.
• On’s direct-to-consumer (D2C) channel grew 49.8% YoY to CHF 246.7 million ($279.5 million), or 50.7% on a constant-currency basis.