A CHF 80.8 million negative swing in foreign exchange impact sent ONON’s net income down 93% in the second quarter to CHF 3.3 million ($3.7 mm) from CHF 49.1 million prior, despite a 52% jump in sales to CHF 444.3 million ($494.2 mm) from CHF 291.7 million that were up more than 60% constant currency. Backing out the damage from a strong Swiss franc and other items, adjusted EBITDA doubled to CHF 62.7 million from CHF 31.4 million. Direct-to-consumer sales increased 55% to CHF 163.5 million, including a 75% jump in e-commerce and results from On’s seven brick-and-mortar stores. Wholesale ... Log in to view full article.