Federer-backed shoemaker On says strong franc weighs on sales growth
By Bloomberg Published Aug 15, 2023 Swiss shoemaker On Holding AG said the strength of the franc will dampen its ability to fully capitalize on explosive growth in its US sneaker sales later this year. On The Roger Federer-backed company nudged its full-year sales guidance higher to at least CHF1.76 billion ($2 billion) on 15 August. Analysts are expecting CHF1.78 billion.