×
77 029
Fashion Jobs
TJ MAXX
Loss Prevention Detective
Permanent · Holyoke
HOMEGOODS
District Loss Prevention Manager - Maple Grove, mn
Permanent · Maple Grove
MARSHALLS
Part Time Cleaning Associate
Permanent · Amherst
TJ MAXX
lp Detective Princeton, nj
Permanent · Princeton
OLD NAVY
General Manager - Marketplace @ Semino
Permanent · SANFORD
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Fayetteville
SALLY BEAUTY CORPORATE
Outside Sales Representative- Cosmoprof- Denver CO
Permanent · DENVER
RALPH LAUREN
Ralph Lauren Stores - Sales Professional, Part Time
Permanent · Washington
RALPH LAUREN
Sales Professional,Full Time
Permanent · Washington
MACY'S
Asset Protection Detective, Reno Meadowood - Full Time
Permanent · Reno
MACY'S
Asset Protection Clerical, Herald Square - Full Time
Permanent · New York
MACY'S
Retail Sales Jewelry Clerical, Security Square - Part Time
Permanent · Baltimore
MACY'S
Asset Protection Detective, Wheaton Plaza - Part Time
Permanent · Wheaton-Glenmont
MACY'S
Manager, Customer Experience And Sales
Permanent · Glendale
MACY'S
Manager, Asset Protection - Multi Store
Permanent · Pasadena
MACY'S
Senior, Technical Product Manager
Permanent · Johns Creek
MACY'S
Manager, Asset Protection
Permanent · San Jose
MACY'S
Asset Protection Detective, Aventura - Part Time
Permanent · Aventura
MACY'S
Asset Protection Detective, South Park - Part Time
Permanent · San Antonio
MACY'S
Asset Protection Investigator, Tulsa - Full Time (2840)
Permanent · Owasso
MACY'S
Beauty Account Coordinator
Permanent · Garden City
MACY'S
Asset Protection Security Guard, Center City - Flex
Permanent · Philadelphia
Published
Mar 21, 2023
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

On continues to make progress as sales jump in 2022 and Q4

Published
Mar 21, 2023

Fast-growing Swiss sports specialist On has reported its Q4 and full-year results and said 2022 was a strong one for the still-young business.


On



Annual net sales reached CHF1.222 billion (€1.2bn/£1bn/$1.3bn), the first time they rose above the CHF1 billion mark with a 68.7% rise year on year.

That came with a gross profit margin of 56%, net income of CHF57.7 million (up from a net loss of CHF170.2 million), and a net income margin of 4.7%. Adjusted EBITDA was up 71.4% to CHF165.3 million, and it reported an adjusted EBITDA margin of 13.5%, “showcasing On's commitment to managing the company for long-term, sustainable growth and profitability”.

During the latest year, net sales through the DTC channel increased 61.4% to CHF445.1 million, while wholesale was up 73.1% to CHF777 million.

Sales in North America rose 80.3% to CHF738.5 million, while Europe was up 36.1% to CHF354.3 million, Asia-Pacific rose 87.7% to CHF80.2 million and the Rest of World region jumped 310.5% to CHF 49.1 million.

Product-wise, that divided into a 70.9% surge to CHF 1.167 billion for shoes, a 30.2% rise to CHF47.3 million for apparel and 48.3% rise to CHF7.4 million for accessories.

Meanwhile, Q4 net sales rose 91.9% to CHF366.8 million, growing by 91.9%, “driven by an exceptional underlying full-price demand throughout the holiday season across regions and channels”.

The quarterly profit margin was 58.5%, “continuing the sequential improvement over the 2022 quarters and reflecting a normalisation of operations to return to sea freight as the main mode of shipment”. This meant a Q4 net loss that narrowed to CHF26.4 million from CHF187 million.

The company added that “the ongoing exceptional demand for On's products, the strong product pipeline and multi-channel success gives the company confidence for achieving strong results in 2023”.

It expects net sales of at least CHF1.7 billion this year, a stable gross profit margin of around 58.5% and a higher adjusted EBITDA margin of 15%.

Martin Hoffmann, Co-CEO and CFO of On, said: “After a great year and exceptionally strong fourth quarter well beyond our own expectations, we are heading into 2023 with a lot of momentum and in a position of strength. After navigating through a challenging 2022, including supply shortages, tight production capacities and disruption of global trade lanes, we are looking forward to a great year with largely normalised operations. 

“We have made significant progress in many areas in the 18 months since our IPO, which will set us up for ongoing success and market share gains.”

Copyright © 2023 FashionNetwork.com All rights reserved.