Federer-backed shoemaker has surging U.S. sales, but a weakening dollar is dampening its outlook

A picture on On shoes inside a store (Credit: Stefan Wermuth—Bloomberg/Getty Images)

An emerging shoe brand backed by tennis legend Roger Federer is seeing sales boom in the U.S.—the only problem is how customers are paying.

Performance shoe brand On told analysts this week that the dollar's weakness against its native Swiss franc is holding back blockbuster figures.