Swiss Sneaker Brand On Raises Outlook as Sales Soar in Asia

On Holding AG boosted its sales and earnings forecasts for the year after a better-than-expected third quarter in which consumers in Europe and Asia snapped up the Swiss sneaker maker’s high-priced footwear.

The Roger Federer-backed company now sees revenue growing 34% this financial year on a constant currency basis, above analyst estimates and three percentage points higher than its previous target. That new goal translates to net sales of 2.98 billion Swiss francs ($3.7 billion) at current spot rates, it said.