By Jeffrey T. Lewis 



  SÃO PAULO--Brazilian retailer Magazine Luiza SA's board said it would propose a stock split at its shareholders meeting that would leave owners of the stock with four shares for each one they currently own. 


  The goal is to bring the price of an individual share down and make them more accessible to investors, the company said Friday in a statement. Magazine Luiza's shares closed 2.3% lower on Thursday at 87.10 reais ($16.62) each. 


  Magazine Luiza has benefited this year from the increased use of online shopping by consumers stuck at home because of coronavirus-related quarantine measures implemented around Brazil near the end of March. Its shares have risen about 75% since the start of 2020. 


  The company, which operates an online marketplace along with its approximately 1100 physical stores, would go from 1.62 billion shares outstanding to 6.5 billion shares, according to the statement. 


  Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com