On Boosts Outlook on Record Sales for Sneaker Upstart

On Holding AG raised its sales outlook for the year as the Swiss sneaker maker steps up its competition with bigger rivals such as Adidas AG and Nike Inc.

The Roger Federer-backed company now expects net sales of at least 2.29 billion Swiss francs ($2.6 billion) this year, up slightly from the previous target. Its net sales hit a record high last quarter, jumping 33 percent from a year earlier at constant exchange rates and beating analyst expectations. The growth was largely driven by higher…