Reported 70.4% increase in net sales for the full year
On fourth quarter reported net sales of approximately $204.5 million, a 53.7% year-over-year increase. Net sales for the full year rose 70.4% to approximately $775.3 million, while its net loss fell from approximately $29.5 million to $182.4 million. dollars.
For the quarter, the Swiss brand’s footwear segment checked in a 49% increase in net sales to around $192.2 million, and apparel jumped 216% to around $10.7 million.
Shares of On are up 33% over the past week.
The sustainable athletic footwear and apparel company has seen positive results globally.
- In the fourth quarter, net sales in North America jumped up 100.1% at approximately $142.7 millionand 96.8% to approximately $438 million for the full year.
- Net sales in Asia Pacific jumped 35% to approximately $11.3 million in the quarter, while net sales for the entire region increased 85.8% to nearly $45.7 million.
- Europe full-year net sales increased 38.8% to approximately $278.7 million.
We went public via an IPO in September. The brand, supported by tennis greats Roger Federerhad a market capitalization of $8.8 billion from February.
To look forward
With a presence in more than 60 countries, On announces its intention to open its first flagship stores in Europe and Asia excluding China, as well as increasing its presence in China and North America. The company also recently started production at a new factory in Indonesia.
With its production capacity back to 100% of its pre-lockdown commitments, we anticipate net sales in 2022 of grow at least 37% year-over-year to around $1 billion.