Mall manager: Natchez RadioShack will stay openPublished 12:11am Sunday, April 20, 2014
NATCHEZ — The Natchez RadioShack will not be one of 1,100 stores across the nation to close, according to Natchez Mall management.
The company announced the closures in March, but did not release a list of the stores expected to close, only stating more than 4,000 stores would remain open.
Natchez Mall Manager Marie Lofton said the company’s district manager visited the store last week and informed her the Natchez RadioShack would not be closing.
“RadioShack is here to stay,” Lofton said. “It’s wonderful news, because they have a good business.”
A store manager at RadioShack in the Natchez Mall referred all questions to the corporate office. Attempts to reach the corporate office were unsuccessful.
In a March press release, RadioShack Chief Executive Officer Joseph Magnacca said the decision to close one-fifth of stores nationwide would still leave the company with a “strong, unmatched presence” across the country.
“Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles — location, area demographics, lease life and financial performance — in order to consolidate our store base into fewer locations while maintaining a strong presence in each market,” Magnacca said. “The result of that review is our plan to close up to 1,100 underperforming stores.”
The company reported a $191 million fourth-quarter loss, which is more than double the loss RadioShack reported during the same period the previous year.