On Holding AG outlined a $1 billion share repurchase program and a three-year growth plan targeting net sales of 5.6 billion Swiss francs, or about $6.8 billion, by 2029. The company expects high-teens constant-currency sales growth over the period, including low-20% growth in 2026, while targeting a gross profit margin of at least 65% and an adjusted EBITDA margin above 22% by 2029. Running, sneakers and apparel will remain the main growth drivers, with soccer and golf providing additional expansion opportunities. On shares rallied more than 12% after the investor day, but Jefferies and Needham analysts questioned whether the company can meet its long-term goals as growth has slowed and conditions in the athletic market have become more difficult. On is developing its soccer business with Kylian Mbappé, Thierry Henry and Sydney Schertenleib, while executives also highlighted collaborations with Zendaya and Hellen Obiri.