\n By Steve Goldstein <\/p>\n
\n Former men’s tennis world number one Swiss Roger Federer is seeing the value of his holdings in an apparel maker decline. <\/p>\n
\n Apparel maker On Holding saw its shares slump in premarket trade as the Zurich-headquartered, U.S.-listed company guided to weaker-than-expected sales for the year. <\/p>\n
\n Saying it is taking a “disciplined” approach, On said it would protect “full-price integrity in a promotional marketplace” ahead of what it termed “breakthrough innovations” heading into 2027. <\/p>\n
\n That means it’s guiding for full-year sales between 3.47 billion francs ($4.3 billion) to 3.56 billion francs, compared to the Visible Alpha-compiled analyst estimate of 3.57 billion francs. <\/p>\n
\n On said it swung to a second-quarter adjusted earnings per share of 0.35 francs a share, beating expectations of 0.34 francs, as sales increased by 13.5% to 850.3 million francs. Analysts had expected revenue of 884 million francs, according to Visible Alpha. <\/p>\n
\n On Holding shares (ONON) slumped 14% in premarket trade. <\/p>\n
\n For Roger Federer, who is reported to own about 3% of the company, that move translates into a roughly $50 million decline in the value of his holdings. Federer has helped create the company’s “The Roger” line of sneakers. <\/p>\n
\n Forbes last year said Federer was worth $1.1 billion. <\/p>\n
\n -Steve Goldstein <\/p>\n
\n This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. <\/p>\n
\n (END) Dow Jones Newswires<\/p>\n
\n 08-11-26 0551ET<\/p>\n
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