Consumer Affairs & Relations

Shanghai, China -- Gap announced late Wednesday that its first four wholly owned Gap stores have debuted in China, along with the launch of its online retailer store gap.cn.

Each store will house all Gap collections: Gap, GapKids, Baby Gap and Gap Body.

Menomonee Falls, Wis. -- Kohl's Corp. reported late Wednesday it earned $194 million in the quarter ended Oct. 30, compared with nearly identical net income of $193 million in the year-ago period. The retailer cited rising costs for the flat profit performance.

Revenue rose 4.2% to $4.22 billion, just missing Wall Street expectations of $4.3 billion.

Deerfield, Ill. -- Walgreen Co. said late Wednesday it is recommending that shareholders do not endorse an unsolicited offer from TRC Capital Corp. to buy up to 3 million shares of the drugstore chain.

The retailer said it received an offer from TRC on Nov. 3. The offer represents 0.3% of Walgreen’s outstanding stock.

Walgreen said it doesn't endorse the "mini-tender offer," because it is set at a price below the current market price for the company's shares and is subject to numerous conditions.