🔴 On Holding is trading 4.1% down today amid sector weakness after Deckers misses revenue expectations

On Holding is trading 4.1% down at $32.60 on October 23, 2026, amid sector-led pressure after footwear peer Deckers missed revenue expectations and set a weaker-than-expected full-year outlook.

• The consumer discretionary sector is down 1.50%, with broader market weakness adding pressure.
• No clear company-specific announcement surfaced. On Holding’s investor-day targets and buyback were announced earlier this week and do not explain today’s decline.