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Luisa Via Roma Owners Explore Sale of Online Fashion Retailer

The owners of Italian high-end online fashion retailer Luisa Via Roma are exploring a sale of the company. (Luisa Via Roma)
The owners of Italian high-end online fashion retailer Luisa Via Roma are exploring a sale of the company. (Luisa Via Roma)
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Luisa Via Roma Owners Explore Sale of Online Fashion Retailer

The owners of Italian high-end online fashion retailer Luisa Via Roma are exploring a sale of the company. (Luisa Via Roma)
The owners of Italian high-end online fashion retailer Luisa Via Roma are exploring a sale of the company. (Luisa Via Roma)

The owners of Italian high-end online fashion retailer Luisa Via Roma are exploring a sale of the company, two people familiar with the matter said on Monday according to Reuters.

Luisa Via Roma, owned by the Panconesi family, reported revenues of 166 million euros ($194.80 million) in 2019 and a loss at the EBITDA level of 16 million euros, according to the company’s balance sheet.

The family is advised by investment bank Jefferies, the people added.

Jefferies and Luisa Via Roma declined to comment. The Panconesi family could not immediately be reached for a comment.

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Under Armour Raises Annual Profit Forecast on Cost-savings Plan

FILE PHOTO: Products are displayed in an Under Armour store in New York City, US, November 4, 2019. REUTERS/Brendan McDermid/File Photo
FILE PHOTO: Products are displayed in an Under Armour store in New York City, US, November 4, 2019. REUTERS/Brendan McDermid/File Photo
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Under Armour Raises Annual Profit Forecast on Cost-savings Plan

FILE PHOTO: Products are displayed in an Under Armour store in New York City, US, November 4, 2019. REUTERS/Brendan McDermid/File Photo
FILE PHOTO: Products are displayed in an Under Armour store in New York City, US, November 4, 2019. REUTERS/Brendan McDermid/File Photo

Sportswear maker Under Armour raised its annual profit forecast on Thursday, betting on its cost-saving strategy and efforts to sell more clothing and shoes at full price.

Shares of the company rose 6.3% in premarket trading.

Following several quarters of poor results, Under Armour founder Kevin Plank returned as CEO to reset the business and has been reducing headcount and cutting down on inventory of some products.

The company is also aiming to cut back on promotions and sell apparel and footwear at full prices.
It now expects annual adjusted per-share profit of between 24 cents and 27 cents, compared with its prior forecast of 19 cents to 21 cents.