Swiss sneaker maker plunges 14% on weak guidance, slower than expected 2026 growth

Swiss sneaker maker On fell about 14% premarket after it reported record sales and improved profitability in 2025 but gave worse-than-expected guidance. Over the full year, sales surpassed 3 billion francs for the first time, On said. The company sees 2026 net sales growing by at least 23% in constant currencies. At current spot rates, it said,
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