Brazil's Magazine Luiza jumps after partnership with MercadoLibre

MercadoLibre

02/09/2026 16:42

Sept 2 (Reuters) - ** Shares in Brazilian retailer Magazine Luiza MGLU3.SA lead gains on Brazil's benchmark stock index after the company announced a partnership with Uruguay-based e-commerce MercadoLibre MELI.O
** Share on track for a best day in almost three years, up 22.1%, while the benchmark Bovespa index .BVSP gains 3.2%
** Brazilian retailer to offer about 27,000 items from its own inventory on Mercado Libre's platform, expanding its distribution channels
** Magazine Luiza's logistics arm will handle all deliveries
** Citi analysts viewed the partnership positively overall, but said more details were needed to assess its benefits, particularly for Magazine Luiza
** The partnership follows similar deals with Amazon AMZN.O and China's AliExpress 
** Year-to-date, the firm is still down over 35%

 (Reporting by Paula Arend Laier and Isabel Teles; Editing by Aida Pelaez-Fernandez)
 ((isabel.teles@thomsonreuters.com; +55 11 91033 3602))