** U.S.-listed shares of sportswear brand On Holding ONON.N up 5% at $35.79 premarket

** Company lifts annual profit margin forecast after beating Q1 sales estimates, helped by demand for its pricey running shoes, such as Cloudtilt, from affluent, younger customers

** Q1 sales jump 14.5% to 831.9 million Swiss francs ($1.07 billion), topping estimates of 822.5 million francs

** ONON expects annual operating profit margin of between 19.5% and 20%, up from 18.5% to 19% previously

** Also targets gross profit margin of at least 64.5%, up from at least 63.0% expected earlier

** ONON maintains annual net sales target of at least 23% year-on-year growth

** Up to last close, stock down about 26% so far this year