On Holding falls as quarterly sales growth slows

** US-listed shares of On Holding 49G.BN down nearly 5% at $35.61 premarket

** Slowdown in the sportswear brand's Q3 sales overshadows results beat, annual gross profit margin forecast raise

** On reaffirms annual sales forecast, but expects net sales growth to accelerate in the fourth quarter, helped by holiday campaigns

** Quarterly net sales rose 17.8% on a constant currency basis, compared to a 34.5% rise a year ago; sales in Americas, its biggest region by sales, rose 12.4% compared to a 21% rise a year ago

** Co raises annual gross profit margin targets to around 67.5% or ~66% excluding tariff refunds, compared to previous expectations of about 65%

** Up to last close, stock has fallen ~19% YTD

($1 = 0.8192 Swiss francs)