Sneaker Brand On Lifts Outlook on Demand for Cloudtilt Shoes

On Holding AG raised its profit outlook after a robust start to the year that saw consumers snap up the Swiss brand’s growing range of apparel and new sneakers, including the $170 Cloudtilt Remix.

The Roger Federer-backed company now expects an adjusted earnings before interest, taxes, depreciation and amortization margin of between 19.5% and 20% this year, higher than analyst estimates. The gross profit margin should reach at least 64.5%, On said Tuesday, also ahead of analyst expectations.