Now Consultants Are Going Bankrupt

We aren’t sure if this is to be expected or a SUPER BAD development. LakeWest Group, a consulting firm that has helped out Coldwater Creek, Macy’s and others has declared Chapter 7 bankruptcy.

Of course, bad news or not, it’s expected. It’s unlikely that retailers are hiring more of these types of firms, even if they could use them to help find ways to cut costs and improve efficiency.

Scantily-Clad Women Not Helping Carl’s Jr.?

It looks like, uh, suggestive commercials with Paris Hilton and Padma Lakshmi aren’t quite doing the trick for Carl’s Jr. The burger chain’s parent, CKE Restaurants, is having trouble in an environment where McDonald’s is thriving.

Jim Cramer of “Mad Money” talks to CKE’s CEO Andy Pudzer about the burger wars.

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Graphic: A Look at (Mostly) Extinct Retail Concepts

The graphic below is a funny mall-directory-like map that shows retail concepts that have either gone out of business or are on the brink with descriptions of their situation. We especially like this statement about Spencer Gifts: “Specializing in all things unnecessary, Spencer’s is what Brookstone would be if it was run by a stoned 20-year-old.”

Pier 1 Continues to Defy Haters

Pier 1 just posted a $29-million first-quarter profit. Who would’ve guessed?

Of course, net sales dropped 9.3% and same-store sales were down 7.5% year over year. But even those results weren’t as bad as projected. “The sales declines are getting smaller,” said Alex Smith, the company’s president and chief executive, during its quarterly conference call.

Best Buy Zeroes in on Wal-Mart

Now that Circuit City is gone, Best Buy has another target for dominance in the consumer-electronics space. Except this time it’s Wal-Mart.

A new Best Buy ad campaign features a customer calling one of its stores about details on a television. The person is calling from a Wal-Mart. Says the Best Buy representative on the phone: “You’re obviously calling us because we’re knowledgeable. We’ve got the price match guarantee, so why don’t you come on in?”

Shoplifting On the Rise Nationally

So earlier this week, we posted an item about someone’s creative way of stealing beer at Wal-Mart. It turns out that, coincidentally, it’s really part of a bigger national trend.

A recent survey says that “shrink” in 2008 increased for the first time in six years, with total losses hitting $36.5 billion. A total of 1.52% of all retail inventory was stolen last year, up from 1.44% in 2007.

Tesco Keeps Pushing Fresh & Easy

Fresh & Easy, UK-based Tesco’s 10,000-square-foot grocery concept in the US, had booming same-store sales growth in its latest quarter, up 30% to 40% year over year, company officials recently reported.

The chain is still growing, too. Tesco’s management is planning 60 new stores this year, bringing its total to 170 by the end of the fiscal year.

Don’t Steal Beer From Wal-Mart

A man in Myrtle Beach, SC, tried to steal beer from a Wal-Mart by concealing it in rolls of toilet paper, according to this report. And on top of that, he was allegedly busted for pot possession when he was caught. Ouch.

So this will be our lesson of the week: Don’t steal beer from Wal-Mart. At least not hidden in toilet paper. With weed in your pocket.

DDR, Macerich Try to Sell Centers

Some major dispositions in the industry are starting to take shape as retail REITs are trying to clear up their debt situations.

Developers Diversified Realty is in the process of selling 12 centers for up to $175 million, mostly to Benderson Development Co., according to reports. And Macerich Co. wants to sell interests in its malls, including Queens [NY] Center.

Westfield Pushes for WTC Retail

Westfield Group, the mall owner that operated the retail space in Manhattan’s World Trade Center before it was destroyed by terrorists on 9/11, wants to start building at Ground Zero, according to this article.

Peter Lowy, Westfield’s global co-managing director, says that his firm has the money to fund the project on its own. “We could write a check,” he told the Journal. His firm’s plan calls for 540,000 square feet of underground and street level retail.