Magazine Luiza provides open 60 stores in 2017, most in the Northeast

Part of the resources to be obtained on stock offering announced at Magazine Luiza will be used to open 60 stores this year, informed the President of the Council of the network, Luiza Trajano, at an event in the commercial Association of Rio de Janeiro on Tuesday, 12. "The majority will be located in the North-East, in places we haven''t," said the Manager.
The Magazine Luiza, commanded by your son Frederick Trajan, has today 818 stores across the country, but is not yet in Rio de Janeiro. According to the Executive, the reason would be the fear of an aunt of the interior of São Paulo, of 91 years, founder of Magazine Luiza and which always served as a counsellor. "But I''m going to bring her to the river for her to see how the city is beautiful," he said.
Luiza was unavailable for comment on the operation announced today to the market, "so as not to disturb", but confirmed that the family will sell 10% of the shares.
She noted that the brazilian economy is showing signs of improvement, with the fall of interest rates and hence cheaper credit, which helped in the result for the first half of the company. "We come from a good semester. We were fine until now and I hope it continues, "said the Executive.
Earlier, the retailer announced initially restricted offer shares ON 24 million, divided into primary distribution of 17.6 million new shares, and secondary, of current shareholders, of 6.4 million. The number of shares may be increased by up to 15% of the total additional batch.