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Americas sales grew just 13% in constant currency terms in Q2, slowing from 17% growth the prior quarter
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On Holding reported second-quarter net sales of CHF 850.3 million on Tuesday, missing analyst estimates and sending On stock down as much as 22% to a roughly two-year low, according to Reuters.
Americas revenue, On's largest regional segment at more than half of total sales, expanded just 13% on a constant-currency basis in the quarter ended June 30, slowing from the 17% pace posted in Q1. Analysts had expected net sales of CHF 878.16 million for the quarter, according to Reuters. Net sales rose 13.5% year-over-year, or 21.6% on a constant currency basis.
