Area Best Buy stores spared in closures

The Springfield, Branson and Joplin locations of Richfield, Minn.-based Best Buy Co. Inc. were not included in a recent announcement of systemwide store closures.

In late March, the electronics retail chain announced it would close 50 U.S. stores this year after February closures of stores in Kansas and Scottsdale, Ariz. Another six stores had been notified of plans to close later this year.

During the weekend, Best Buy named the remaining 42. In a news release, the company indicated that the majority of the stores would close by May 12.

Only one other store in Missouri was included on the list - a location in Ellisville, west of St. Louis.

The company is working to help affected employees gain positions in other Best Buy stores, but for those who don't find new positions or choose not to relocate, severance packages will be available, the release said.

Publicly traded Best Buy Co. (NYSE: BBY) recorded a net loss of $1.2 billion during fiscal 2012 ended March 3, compared to earnings of $1.3 billion the prior year.

Shares of Best Buy were trading at $21.99 as of 11:39 a.m., compared to a 52-week range of $21.72 to $22.02.