{
  "id": 12638783,
  "title": "On Holding Is Down Over 50% From Its All-Time High. Is a Push Into Football and Golf the Key to Unlocking Faster Growth?",
  "url": "https://urgent.news/2026/10/07/on-holding-is-down-over-50-from-its-all-time-high-is-a-push-into",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T13:30:00.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/10/07/on-holding-is-down-50-from-its-all-time-high-is-a/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "On Holding AG (NYSE: ONON), the Swiss running and sports shoe brand famous for its cushioned Cloud sneakers, has seen a significant decline of approximately 52% from its all-time high reached in January 2025. Despite still enjoying robust sales growth, the company's shares aren't reflecting the same enthusiasm as before. The issue isn't that On Holding has ceased to grow, but rather that its growth rate has decelerated from previously exceptional levels to what can now be considered merely very good. Analysts had priced the stock based on the former, faster trajectory.\n\nIn response to this slowdown, On Holding has ventured into two new categories: football and golf. These brand extensions are underpinned by one of the most significant athlete signings in recent times. The company's second-quarter net sales increased by 21.6% constant currency, a figure that most apparel firms would be thrilled with. However, this growth figure fell short of what analysts had anticipated. Consequently, On Holding has revised its full-year growth outlook downward, from a previous expectation of over 23% to within the low-20% range.\n\nWhile these developments don't suggest that On Holding's business model is flawed, they do imply that the market, which initially viewed the company as a growth engine with no limits, is now pricing in a more conventional deceleration curve.",
  "summary": "On Holding just signed Kylian Mbappé and is launching into golf, but its own 2029 targets say the real growth engine is still running shoes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}