Content about Company Reorganization

San Jose, Calif. -- eBay has eliminated approximately 325 jobs from its PayPal division. As a result, the company has announced a planned fourth quarter pretax restructuring charge of approximately $15 million related to staff reductions at the company's PayPal business unit. PayPal also is ending contracts with approximately 120 contractors globally.

Minneapolis -- Supervalu announced that it is restructuring its executive leadership team to ensure alignment around the company’s goals and to better drive and execute the company’s business turnaround.

New York -- Best Buy Co. is laying off about 650 employees from its Geek Squad division, according to a report by KARE 11.

The report said the company is eliminating positions that service appliances and televisions in customer's homes. Best Buy said it is not getting rid of home service, but is restructuring it and realigning its work force across all service channels.

If laid off workers are unable to find another position within Best Buy, their last day will be Aug. 1, the report said.

Editor’s Note: Chain Store Age’s 23rd annual survey of Fastest-Growing Managers measures new domestic and international third-party management and leasing contracts obtained during the preceding calendar year (2011).

Now more than ever, retail real estate is not a business to be conducted without forethought. The days of gut instincts and seat-of-the-pants decisions have been replaced by the need to plan far ahead to guarantee a company’s continued growth.

Cincinnati -- The Kroger Co. reported on Thursday that it posted a loss in the quarter ended Jan. 28, attributing the loss to costs associated with consolidating its pension plan for union workers.

The grocer, which counts among its banners Kroger, Ralphs and Food 4 Less, lost $306.9 million in the quarter, compared with a profit of $278.8 million in the year-ago period.

Total sales in the quarter rose 7.7% to $21.4 billion. Excluding fuel, sales rose 5%. Same-store sales increased 4.9%.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue for the quarter slipped 4% to $12.5 billion, from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

Mooresville, N.C. -- Lowe's Cos. reported Monday that net income for the quarter ended Oct. 28 dropped 44% as store-closing charges undercut a slight uptick in quarterly sales.

The home-improvement retailer reported net earnings of $225 million, compared with $404 million in the year-ago period. Charges related to store closures amounted to a pre-tax earnings reduction of $336 million.

Sales increased 2.3% to $11.9 billion, up from $11.6 billion a year earlier. Same-store sales edged up 0.7%, reversing declines in two prior quarters.

Mooresville, N.C. -- Lowe’s Cos. is consolidating its store operations and merchandising organizations. The move is designed to improve efficiencies, increase speed to market for new products and services, and enhance the shopping experience for customers, the chain said.

Purchase, N.Y. -- Most retail segments showed solid year-over-year retail growth in March, according to MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales.

Electronics sales and department stores showed modest gains while luxury and e-commerce recorded strong growth. Some segments of the restaurant sector also showed strength in March.

Westborough, Mass. -- BJ's Wholesale Club's fiscal fourth-quarter net income fell 81% on a one-time $41.1 million charge related to store closings, restructuring and asset impairment. But its adjusted earnings beat expectations.

The wholesale club operator earned $10.2 million for the quarter, compared with $54.5 million a year ago.

Net sales for the fourth quarter ended Jan. 29, increased by 7.4% to $2.90 billion, and comparable club sales increased by 3.8%, including a contribution from sales of gasoline of 2.1%.

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.

Bentonville, Ark. -- Less than three months after joining Walmart’s merchandising organization as an executive VP, Duncan Mac Naughton on Friday was elevated to the role of chief merchandising officer for the U.S. stores division.