Finance & Capital Management

Chelmsford, Mass. -- A report released by workforce management solution-provider Kronos found that holiday hiring levels are lagging behind 2009 numbers.

According to the Kronos Retail Labor Index, which analyzes demand and supply sides of the labor market within the U.S. retail sector, the index decreased in October to 3%, down 16% from the September 2010 level of 3.6%. (A level of 3% means that for every 100 applications received, three hirings occurred).

Chicago -- Jones Lang LaSalle announced it has formed an alliance with the Property Tax division within Thomson Reuters’ Tax & Accounting business to provide tax mitigation services to corporate real estate clients.

Jones Lang LaSalle’s Real Estate Tax Mitigation offering provides review, recommendations and appeal processes to manage a corporation’s real estate tax budget.

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.

Purchase, N.Y. -- A report release Thursday by MasterCard Advisors said that in October total retail sales, ex-auto, grew by 3.3% year-over-year, the strongest year-to-year pace since April.

Similarly, according to MasterCard Advisors’ SpendingPulse, a macro-economic report tracking national retail and service sales, seasonally adjusted month-to-month sales were up by 3.1%. Excluding both auto and gasoline, on a seasonally unadjusted basis, year-over-year sales in October grew by 2.7%, slightly more than double September’s 1.3% increase.

Plano, Texas -- J.C. Penney Co. announced Thursday that it has launched a Growth Brands Division, created to pursue what the retailer sees as high-potential opportunities in the retail space, including both digital initiatives and retail store opportunities.

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.