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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Magazine Luiza S.A.    MGLU3   BRMGLUACNOR2

MAGAZINE LUIZA S.A.

(MGLU3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 11/26
24.25 BRL   +1.04%
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Magazine Luiza S A : Notice to the Market - Stoq Acquisition

08/24/2020 | 08:18am EST

MAGAZINE LUIZA S.A.

Publicly-held Company

Corporate Taxpayer ID: 47.960.950/0001-21

Company Registry (NIRE): 35.3.0010481.1

NOTICE TO THE MARKET

Magazine Luiza S.A. ​("Company" or "Magalu"), announces to its shareholders and the market in general that it concluded, on this date, the acquisition of Stoq Tecnologia Ltda. ("Stoq"), a technology startup based in São Carlos, São Paulo, which specializes in developing innovative solutions for small and medium-sized Brazilian retailers.

Founded in 2015, Stoq develops cloud-based point of sale (POS) systems which create better customer service experiences for physical retailers and their employees, drastically reducing lines and eliminating friction from the purchasing process.

Among Stoq's principal products is: SmartPOS, which allows attendants to place orders and receive payment wherever the customer is located, using different payment options, such as cards, digital wallets and contactless systems; the Stoq Self-Checkout, a self-service totem, which gives customers the autonomy to place an order and pay without having to wait in line or go through an attendant; and the Stoq Point of Sales (POS) system, which, among other things, allows the management of food delivery orders directly at the checkout counter. All of these sales channels are integrated into a single system. In 2019, more than R$ 250 million worth of transactions passed through Stoq's portfolio of products.

With the acquisition, Stoq's products become part of the Magalu-as-a-Service (MaaS) strategic pillar, complementing the Partner Magalu initiative and bringing digitalization to small and medium-sized retailers, including those who have more than one store. Stoq's products will also be integrated into Magalu's digital account, so that all Stoq retailers can easily accept payments using Magalu Pay.

In addition, Stoq's technology widens the reach of the Partner Magalu initiative to retailers in specialized categories such as bars and restaurants, clothing stores, supermarkets and health and beauty establishments. This is another important step in Magalu's strategy to digitalize Brazilian retail.

The acquisition was made by a company controlled by Magalu, with no impact on the procedures described in Art. 256 of Law 6,404 / 76. The Company will keep its shareholders and the market in general duly informed, under the terms of the applicable legislation.

São Paulo, August 24th, 2020

Roberto Bellissimo Rodrigues

Chief Financial Officer and Director of Investor Relations

Disclaimer

Magazine Luiza SA published this content on 24 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2020 12:18:05 UTC


© Publicnow 2020
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Financials
Sales 2020 28 666 M 5 369 M 5 369 M
Net income 2020 441 M 82,5 M 82,5 M
Net cash 2020 1 417 M 265 M 265 M
P/E ratio 2020 382x
Yield 2020 0,08%
Capitalization 157 B 29 333 M 29 339 M
EV / Sales 2020 5,42x
EV / Sales 2021 4,45x
Nbr of Employees 30 000
Free-Float 41,4%
Chart MAGAZINE LUIZA S.A.
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Technical analysis trends MAGAZINE LUIZA S.A.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 25,43 BRL
Last Close Price 24,19 BRL
Spread / Highest target 43,4%
Spread / Average Target 5,14%
Spread / Lowest Target -42,1%
EPS Revisions
Managers
NameTitle
Frederico Trajano Inácio Rodrigues Chief Executive Officer
Luiza Helena Trajano Inácio Rodrigues Chairman
Fabrício Bittar Garcia Vice President-Operations & Commercial
Roberto Bellissimo Rodrigues Chief Financial Officer & IR Officer
André Fatala Chief Technology Officer
Sector and Competitors