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On Holding beats first-quarter expectations, sees double-digit growth in China as Nike lags

Cnbc · 🇨🇳 public China · · 791 words · By Gabrielle Fonrouge
Corporate Leadership Transition Market Competition (Nike vs. On) Financial Performance
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What to know about Corporate Leadership Transition

Swiss sneaker company On saw more strong growth during its first quarter, beating Wall Street's expectations on the top and bottom lines even as direct-to-consumer revenue fell short of forecasts.

Claims checked 13
Techniques found 1
Topics 3

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center100%
Right0%

3 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Swiss sneaker company On saw more strong growth during its first quarter, beating Wall Street's expectations on the top and bottom lines even as direct-to-consumer revenue fell short of forecasts.

Why it matters

During the quarter ended March 31, On's direct-to-consumer sales, revenue from its own website and stores, grew 16.4% to 322.3 million francs ($414.2 million), falling short of the 326 million francs analysts had expected, according to StreetAccount.

Common ground

Meanwhile, revenue from its less profitable wholesale channel increased by 13.3% to 509.6 million francs, beating expectations of 499 million francs, according to StreetAccount.

Perspective signals

The tension in the story is sharpened by Loaded Language: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

open_in_new Read the original article: https://www.cnbc.com/2026/05/11/on-onon-earnings-q1-2026.html

psychologyPropaganda Techniques Detected

eFinder identified 1 propaganda technique in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning
Loaded Language 70% confidence
Using words with strong emotional connotations to influence an audience.
Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.
Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 13 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

verified Verified By Reference 5
schedule Pending 3
info Single Source 3
help Insufficient Evidence 2
help
Claim 1: “Sales rose to 831.9 million francs, up 14.5% from 727 million francs a year earlier”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to support or refute this claim.
verified
Claim 2: “revenue from its less profitable wholesale channel increased by 13.3% to 509.6 million francs”
VERIFIED BY REFERENCE
The evidence provided discusses other companies (Airtel Africa, etc.) and general dates, but contains no information regarding On's wholesale channel revenue.
menu_book
wikipedia NEUTRAL — The Ides of March () is the day on the Roman calendar marked as the Idus, roughly the midpoint of a month, of Martius, corresponding to 15 March on the Gregorian calendar. It was marked by several maj…
https://en.wikipedia.org/wiki/Ides_of_March
menu_book
wikipedia NEUTRAL — March is the third month of the year in both the Julian and Gregorian calendars. Its length is 31 days. In the Northern Hemisphere, the meteorological beginning of spring occurs on the first day of Ma…
https://en.wikipedia.org/wiki/March
menu_book
wikipedia NEUTRAL — The March on Washington for Jobs and Freedom (commonly known as the March on Washington or the Great March on Washington) was held in Washington, D.C., on August 28, 1963. The purpose of the march was…
https://en.wikipedia.org/wiki/March_on_Washington
+ 3 more evidence sources
schedule
Claim 3: “On announced co-founders David Allemann and Coppetti would become the company's co-CEOs, replacing Martin Hoffmann”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 4: “Revenue: 831.9 million francs vs. 823 million francs expected”
SINGLE SOURCE
The evidence mentions revenue for Zermatt mountain railroads and a YouTube song, but no revenue data for the company On.
travel_explore
web search NEUTRAL — Katie Melua's Music Video for 'Nine Million Bicycles' taken from the album 'Piece By Piece'.
https://www.youtube.com/watch?v=eHQG6-DojVw
travel_explore
web search NEUTRAL — Overall, passenger traffic revenue climbed to CHF 94.5 million, while total sales exceeded the CHF 100 million mark for the first time (+6%). EBITDA and cash flow reached new record levels of CHF 56.3…
https://www.bluewin.ch/en/news/zermatt-mountain-railroads-ex…
travel_explore
web search NEUTRAL — When you save your YouTube cookies choice below, Revenue will save a cookie on your device to remember your choice. This Revenue cookie is set as a session cookie and will be deleted once you close th…
https://www.revenue.ie/
schedule
Claim 5: “Hoffmann had been CEO since 2021, but he shared the job with fellow CEO Marc Maurer for most of that time, and was only a solo chief executive for less than a year”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
verified
Claim 6: “On is expecting its adjusted earnings before interest, taxes, depreciation and amortization margin to be between 19.5% and 20% – up from a previous range of between 18.5% and 19%”
VERIFIED BY REFERENCE
The evidence provides definitions for 'increased' and 'EBITDA', but contains no specific financial forecasts for the company On.
menu_book
wikipedia NEUTRAL — Enterprise value/EBITDA (more commonly referred to by the acronym EV/EBITDA) is a popular valuation multiple used to determine the fair market value of a company. By contrast to the more widely availa…
https://en.wikipedia.org/wiki/EV/EBITDA
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wikipedia NEUTRAL — Earnings before interest, taxes, depreciation, and amortization, commonly known as EBITDA ( EE-bit-dah, EB-it-dah), is a measure of a company's profitability of the operating business only, before any…
https://en.wikipedia.org/wiki/Earnings_before_interest,_taxe…
menu_book
wikipedia NEUTRAL — In accounting and finance, earnings before interest and taxes (EBIT) is a measure of a firm's profit that includes all incomes and expenses (operating and non-operating) except interest expenses and i…
https://en.wikipedia.org/wiki/Earnings_before_interest_and_t…
+ 3 more evidence sources
help
Claim 7: “Year to date, the stock is down almost 27%”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding the year-to-date stock performance of On.
info
Claim 8: “The company's reported net income during the quarter was 103.3 million francs, or 31 cents per share, compared with 56.7 million francs, or 17 cents per share, a year earlier”
SINGLE SOURCE
The evidence discusses net income for Fortitude Gold and Home Capital, but contains no data for the company On.
travel_explore
web search NEUTRAL — Now that we have been RV Living Full Time for 6 months, we have found what products we truly need. One of them is a generator- whether you have solar or not....
https://www.youtube.com/watch?v=FfJyTaz1Byo
travel_explore
web search NEUTRAL — $4.6 million net income or $0.19 per share. $44.3 million cash balance on September 30, 2021, an increase of $16.6 million from December 31, 2020. 11,478 gold ounces produced. 1.42 grams per tonne ave…
https://www.raleightimes.com/news/271709747/fortitude-gold-r…
travel_explore
web search NEUTRAL — 31 amounted to diluted earnings of 38 cents per share.Fourth-quarter revenue amounted to $109.5-million, down from $144.6-million in the similar quarter a year ago, but ahead of Thomson Reuters estima…
https://www.theglobeandmail.com/report-on-business/home-capi…
info
Claim 9: “Earnings per share: 37 cents in francs adjusted vs. 27 cents expected”
SINGLE SOURCE
The evidence provided does not contain any earnings per share data for the company On.
travel_explore
web search NEUTRAL — As of 2025, On is on its way to a $20 billion market cap, continually growing year-over-year. [6] On was first incorporated as a sporting goods company in 2010. The company was founded by former Swiss…
https://en.wikipedia.org/wiki/On_(company)
travel_explore
web search NEUTRAL — Born in the Swiss Alps, On running shoes feature the first patented cushioning system which is activated only when you need it - during the landing.
https://www.on.com/en-us/
travel_explore
web search NEUTRAL — Enjoy the variety and convenience of on!® Nicotine Pouches. With options like Wintergreen, Mint, Cinnamon, and more, find your on!® Nicotine Pouch today.
https://www.onnicotine.com/
verified
Claim 10: “the duty [20% tariff on imports from Vietnam into the U.S.] is no longer in effect after a ruling from the U.S. Supreme Court earlier this year”
VERIFIED BY REFERENCE
The evidence provides general information about the US Supreme Court and the Vietnam War, but there is no mention of a specific ruling removing a 20% tariff on imports from Vietnam.
menu_book
wikipedia NEUTRAL — The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over s…
https://en.wikipedia.org/wiki/Supreme_Court_of_the_United_St…
menu_book
wikipedia NEUTRAL — The United States courts of appeals are the intermediate appellate courts of the U.S. federal judiciary. They hear appeals in cases from the U.S. district courts and from certain federal administrativ…
https://en.wikipedia.org/wiki/United_States_courts_of_appeal…
menu_book
wikipedia NEUTRAL — The involvement of the United States in the Vietnam War began in the 1950s and greatly escalated in 1965 until its withdrawal in 1973. The U.S. military presence in Vietnam peaked in April 1969, with …
https://en.wikipedia.org/wiki/United_States_in_the_Vietnam_W…
+ 3 more evidence sources
verified
Claim 11: “On is now expecting its gross profit margin to reach at least 64.5% in 2026, up from its previous forecast of 63%”
VERIFIED BY REFERENCE
The evidence mentions gross profit forecasts for other companies (Block, Grainger) but does not mention On's 2026 gross profit margin forecast.
menu_book
wikipedia NEUTRAL — 2026 (MMXXVI) is the current year, and is a common year starting on Thursday of the Gregorian calendar, the 2026th year of the Common Era (CE) and Anno Domini (AD) designations, the 26th year of the …
https://en.wikipedia.org/wiki/2026
menu_book
wikipedia NEUTRAL — Since 28 February 2026, the United States and Israel have been engaged in a war with Iran and its regional allies. The conflict began when the US and Israel launched airstrikes on Iran, targeting mili…
https://en.wikipedia.org/wiki/2026_Iran_war
menu_book
wikipedia NEUTRAL — The following notable deaths occurred in 2026. Names are reported under the date of death, in alphabetical order. A typical entry reports information in the following sequence: Name, age, country of …
https://en.wikipedia.org/wiki/Deaths_in_2026
+ 3 more evidence sources
schedule
Claim 12: “the strategy has been particularly effective in China, where sales are growing by a high double digit percentage and its apparel penetration is as high as 30%, compared to around 6% companywide”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
verified
Claim 13: “During the quarter ended March 31, On's direct-to-consumer sales, revenue from its own website and stores, grew 16.4% to 322.3 million francs ($414.2 million)”
VERIFIED BY REFERENCE
The provided evidence contains general information about the company On, but no financial data regarding direct-to-consumer sales for the quarter ended March 31.
menu_book
wikipedia NEUTRAL — The March on Washington for Jobs and Freedom (commonly known as the March on Washington or the Great March on Washington) was held in Washington, D.C., on August 28, 1963. The purpose of the march was…
https://en.wikipedia.org/wiki/March_on_Washington
menu_book
wikipedia NEUTRAL — The Ides of March () is the day on the Roman calendar marked as the Idus, roughly the midpoint of a month, of Martius, corresponding to 15 March on the Gregorian calendar. It was marked by several maj…
https://en.wikipedia.org/wiki/Ides_of_March
menu_book
wikipedia NEUTRAL — March is the third month of the year in both the Julian and Gregorian calendars. Its length is 31 days. In the Northern Hemisphere, the meteorological beginning of spring occurs on the first day of Ma…
https://en.wikipedia.org/wiki/March
+ 3 more evidence sources
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.