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Greenfield, Athol RadioShack stores safe from corporate-owned closures

GREENFIELD — Though RadioShack announced it will close about 1,100 stores, the local store is safe.

“We are owned by a franchise, and they’re only closing corporately owned stores, so the closing has nothing to do with us,” said Andy Emond, a manager at the Greenfield store in the Big Y plaza on the Mohawk Trail.

The franchise, Future Link Corp., also owns a RadioShack in Brattleboro, Vt. Emond said the two stores each have about five employees.

An Athol RadioShack franchise owned by Audisee Electronics will not be affected by the closures, either. An employee there said the franchise employs three people.

A manager at the Northampton RadioShack confirmed that the branch is corporately owned, but could not comment on the location’s future.

The struggling electronics retailer made the announcement Tuesday while reporting a wider quarterly loss after a disappointing holiday season. Its stock tumbled 14 percent in midday trading.

CEO Joseph Magnacca said the closures would leave RadioShack with more than 4,000 U.S. stores, including more than 900 dealer franchise locations. The company didn’t immediately identify which stores will be closed or how many jobs would be affected.

A call to the company, based in Fort Worth, Texas, was not immediately returned.

The company said that the stores targeted for closures are being selected based on location, area demographics, lease duration and financial performance.

For the three months ended Dec. 31, RadioShack Corp. lost $191.4 million, or $1.90 per share. That compares with a loss of $63.3 million, or 63 cents per share, a year earlier. Excluding certain items, the company lost $1.29 per share. Analysts surveyed by FactSet expected a loss of 16 cents per share.

Revenue declined to $935.4 million from $1.17 billion. Wall Street was looking for higher revenue of $1.12 billion.

RadioShack reported a full-year loss of $400.2 million, or $3.97 per share. In the prior year it lost $139.4 million, or $1.39 per share. Its adjusted loss was $3.04 per share. Annual revenue declined 10 percent to $3.43 billion from $3.83 billion.

Shares of RadioShack fell 38 cents, or 14 percent, to $2.34. The stock is down about 22 percent in the past year.

Associated Press business writers Candice Choi and Michelle Chapman contributed to this report.

Just want you to know Ira, the reason I go to RadioShack is because I know next to nothing about electronics but your employees do. They, with their knowledge have saved me many times all without making me look like an idiot. So a BIG thank you to your employees. I will also take the time to give a shout out to the Athol store as they too have bailed me out more than once. Very Happy you will not be closing.

As the owners of the RadioShack stores in Greenfield and Brattleboro, we want to assure the public that our business is solid and we will remain open. We began as RadioShack franchisees in Brattleboro in 1986, acquired the Greenfield location in 2000 and have been going strong ever since! We wish to thank our tens of thousands of loyal customers who, for generations, have opted to buy local. The combination of an iconic national brand and the values of a local, family-owned business are an unbeatable force that helps to keep us and our communities strong. We are proud of our association with RadioShack and will continue to work hard to deliver the personal attention and value you expect. We know you have many buying choices and greatly appreciate your business. Ira and Shelly Brezinsky

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