On Holding reported second-quarter net sales of CHF 850.3 million, falling short of analyst estimates of CHF 878.16 million. The company's wholesale channel was a primary drag, with net sales climbing only 4.8% (12.7% in constant currency), a significant slowdown from Q1. Despite the sales miss, net income swung to CHF 105.0 million from a loss a year earlier, and adjusted EPS of CHF 0.35 edged past estimates. On Holding also trimmed its full-year constant-currency revenue growth outlook to the low-20% range from a prior floor of 23%.