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Here's Why On Stock Jumped to a 52-Week High Today

TheMotleyFool

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Here's Why On Stock Jumped to a 52-Week High Today: https://g.foolcdn.com/editorial/images/777299/group-of-friends-running-jogging.jpg

Shares of shoe company On Holding (NYSE: ONON) jumped to new 52-week highs on Tuesday after the company reported financial results for the first quarter of 2024. As of 10:30 a.m. ET, On stock was up 15%.

On is based in Zurich, and reports its earnings results in Swiss francs. But I'll reference the approximate U.S. dollar equivalent for simplicity.

In Q1, On generated record quarterly net sales of over $560 million, which was up 29% year over year when adjusted for fluctuations in the currency exchange rates. It's not just encouraging to see record sales come in above expectations, but it's also encouraging to note what drove the quarter's outperformance.

Source Fool.com

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