Pague Menos (PGMN3) stated in a notice to the market, released on November 5, 2026, that the opening of 170 new stores cited in a report by the news outlet NeoFeed is not a company projection. The clarification responds to an official letter from the CVM (Brazil's Securities and Exchange Commission), dated November 4, 2026, which requested explanations about the news article published on October 30, 2026.
According to the company, the figure of 170 stores results from an illustrative calculation made by the report's author, who applied 10% to the current base of about 1,700 stores. The company states that this is not a number of stores reported or estimated by management and that there is no deadline, explicit target or schedule for openings.
The report quoted the CEO, Jonas Marques Neto, who said that a store costs between R$ 1.7 million and R$ 2 million and that, for each one-point drop in the Selic rate, it could open 10 to 15 stores or slightly more. The company says the statement illustrates, in a generic way, the relationship between interest rates and investment capacity. The reference to a Selic rate near 10% per year at the end of 2027 describes, according to the company, a hypothetical scenario. The report was published before the Copom meeting that kept the Selic at 13.75% per year.
Regarding the forecast of about 50 new stores by the end of the year, the company states that this is a conclusion by the report's author, based on public data from 2Q26: 43 stores opened in the last 12 months and 1,695 stores in total. In 2025, 50 stores were opened. The company classifies the goal of resuming the pace of openings as a long-term strategic guideline of a qualitative nature, and understands that the information does not constitute a material fact or guidance (earnings projection).
Pague Menos notes that it discontinued the disclosure of financial projections, according to the material fact of September 15, 2025. It also stated that the Investor Relations Officer consulted directors and controlling shareholders, who said they were not aware of any information to be disclosed to the market.
