ONON shares were down sharply as second quarter sales fell short of analysts’ estimates. Still, On Holding AG reported Adjusted EBITDA rose 23.5 percent in the second quarter as sales on a currency-neutral basis climbed 21.6 percent. On’s EPS in the quarter was CHF 0.31, beating the analyst consensus estimate of CHF 0.29. At current spot rates, this implies absolute net sales of CHF 3.47 billion to CHF 3.56 billion. Previously, On expected to grow by at least 23 percent year-over-year on a constant currency basis, with reported net sales of at least CHF 3.51 billion.