Shares of On were trading in the range of $30.63 on the Big Board at 2:30 in the afternoon. The miss was offset by strength in the direct-to-consumer (DTC) channel, due to new store growth and e-commerce sales, which was up 34.3 percent on a constant currency basis. You May Also LikeCo-founder and co-chief executive officer David Allemann told investors that in the wholesale channel, the company was “intentional and disciplined” on managing the sell-in in part to “protect our margins. “The weakness in wholesale growth, primarily in the Americas, is likely to continue for some time. And he cited to strong sell-out rates in the wholesale channel across On’s EMEA (Europe, Middle East and Africa) and Asia businesses, led by strength in China and Japan.