Nike may be clawing its way back to popularity, but don’t count out On Holding .

Despite some analyst hesitation that the popular Swiss running brand may be losing some of its steam to a reviving Nike , the company once again posted record sales and profits in the third quarter ended Sept. 30.

“We continue to reiterate that we are on a different journey — to become the most premium brand in the industry,” Martin Hoffmann, chief executive officer and chief financial officer, told WWD.

It appears to be working.

Adjusted net income in the period nearly tripled to 142 million Swiss francs from 50 million Swiss francs in the prior year on a 24.9 percent sales gain, or 34.5 percent on a constant currency basis, to 794.4 million Swiss francs. Adjusted earnings per share were 0.36 Swiss f

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