Federer-Backed Shoemaker Lifts Forecast on North America
- On Holding shares have gained since IPO in September
- Co-CEO Hoffmann calls US the ‘growth engine’ for now
Roger Federer-backed footwear maker On Holding AG raised its full-year earnings forecast after seeing a boom in North America sales and reducing a dependence on air freight.
Net sales will probably reach 1.1 billion Swiss francs ($1.2 billion) in 2022, up from a previous target of 1.04 billion Swiss francs, the Zurich-based company said in a statement Tuesday. That’s slightly higher than the average analyst estimate.