Magazine Luiza Leads Ibovespa Falls, Reacting to Goldman Sachs Report | Companies

Magazine Luiza’s ON shares led the Ibovespa’s declines a short while ago, digesting a report by Goldman Sachs, which forecasts a more challenging environment for the retailer in the short term. At 3:20 pm, Magazine Luiza ON fell 3.21%, at the top of the negative ranking, moving around R$550 million.

In a report, analysts Irma Sgarz, Felipe Rached, Chandru Ravikumar and Gustavo Fratini from the US investment bank state that in a meeting with the retailer’s board of directors, the focus on building the digital ecosystem was clear, integrating recent acquisitions and marketing initiatives. organic growth.

“Magazine Luiza’s growth trajectory remains attractive, with continued market gain helping to mitigate part of the drop in consumption,” analysts say. According to them, the retailer’s objective is to create a wide network of product diversity.

According to a Brazilian stockbroker’s equity trader, Goldman Sachs is the second largest seller of Magazine Luiza’s shares on today’s trading floor, with a net negative position of R$2.5 billion, up to 2 pm, based on system information electronic brokerage orders linked to the stock exchange.

Content originally published by Valor PRO, the real-time news service of Economic value

facade of Magazine Luiza and J.Mahfuz — Photo: Davilym Dourado / Valor