On Holding shares suffered their worst trading day ever, closing at $30.91, down 20.29%, after the premium running-shoe brand reported second-quarter sales that missed estimates and lowered its full-year growth outlook. Management now expects sales growth in the low-20% range, down from a prior minimum target of 23% for 2026, as the company deliberately restricts wholesale shipments to protect full-price integrity and prioritize higher-margin direct-to-consumer sales. Trading volume surged to 42.2 million shares, about 604% above the three-month average of 6.0 million shares. The broader market also declined, with the S&P 500 down 0.32% and the Nasdaq Composite down 0.60%, while peers Deckers Outdoor fell 3.69% and lululemon athletica slipped 1.71%.
On Holding LtdOn Holding reported Q2 sales miss and lowered full-year growth outlook, causing shares to plunge 20%.
Deckers Outdoor CorporationPeer Deckers Outdoor fell 3.69% as part of the broader market decline, but no specific company news.
Lululemon Athletica Inc.