Federer-Backed On Boosts Forecast After Sneaker Demand Rises
- Sneaker maker nudges its full-year sales forecast higher
- Shares of Swiss company jump in US pre-market trading
Swiss sneaker maker On Holding AG posted strong first-quarter revenue and nudged its sales forecast higher for the year, boosted by demand for its running shoes and new line of training apparel.
Roger Federer-backed On reported quarterly sales of 508 million Swiss francs ($560 million) at constant exchange rates, up 29% from a year ago and ahead of market expectations.