Labor & Employment

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with father and son team, Jim and Drew Cownie for 12 new restaurants in Des Moines, Iowa.

The first restaurant is slated to open in 2012 and the remainder by 2018.

Target said it plans to close stores in Broomfield, Colo., Raleigh, N.C., Orlando and Portland by the end of its fiscal year in late January.

New York City -- A truck driver who slipped and fell on ice and grease while he was making a delivery to a Walmart store in northern Colorado can collect a nearly $10 million award after the state Supreme Court upheld a jury verdict in the case on Monday, the Associated Press reported.

New York City -- The president and CEO of Aaron's Inc. has resigned.

Robert C. Loudermilk, the son of the company's founder, announced his resignation Friday afternoon. In a statement, the appliance and furniture-rental company said Loudermilk was leaving due to health reasons. He also resigned from Aaron's board of directors.

Ronald W. Allen, former chairman and CEO of Delta Air Lines, will serve as Aaron's interim president and CEO.

Suffern, N.Y. -- Ascena Retail Group announced that John Sullivan has been appointed executive VP and COO.

In this newly created position, Sullivan will be responsible for information technology, distribution, and human resources information systems across all brands. Prior to joining the company, he served as executive VP and CIO for QVC.
 

Garden City, N.J. -- Sabre Real Estate Group said that Beth Lamport has joined the firm as executive VP.

Previously a director at Breslin Realty, Lamport also was a broker at Polimeni Realty and spent more 20 years as a marketing executive at Federal Department Stores, which owned Macy’s, Bloomingdale’s, Filene’s and Stern’s and now is known as Macy’s Inc.

City of Industry, Calif. -- Hot Topic Inc. said that its CEO, Lisa Harper, 52, has also been named its board chairwoman.

Former chairman Bruce Quinnell will stay on as chairman of the audit committee, but he will not seek re-election to the board when his term ends in June, the company said.

The company also said Matthew Drapkin was named lead director.
 

Economists may be feeling good after a government report that showed third-quarter GDP grew at 2.5%, but try telling millions of Americans who shop at Walmart stores at 12:01 a.m. on the first of the month that the nation is no longer in a recession.

Walmart EVP merchandising Duncan Mac Naughton spoke at two events this week in Northwest Arkansas, and he said essentially the same thing on both occasions. Two weeks earlier during a supplier summit event at the retailer’s home office, he said basically the same thing, according to those in attendance. And the comments at the supplier summit were essentially the same as those shared with members of the financial community during a mid-October analysts’ meeting or back in August.

MONTVALE, N.J. — A&P will be able to emerge from chapter 11 next year, thanks to an agreement to receive $490 million of debt and equity financing from private investors comprised of The Yucaipa Companies LLC, Mount Kellett Capital Management LP and investment funds managed by Goldman Sachs Asset Management L.P., the company announced Friday. The agreement is subject to approval of the U.S. Bankruptcy Court for the Southern District of New York.