Retail round-up on May 4, 2016: Sir Philip Green to answer queries on BHS, Sports Direct cuts stake in JD and Amazon Fresh could hit UK this month.
Sir Philip agrees to appear in front of MPs to answer queries over BHS collapse
Former BHS owner Sir Philip Green has said he is "ready" to answer parliamentary questions about the collapse of the high street retailer.
Sir Philip told the Work and Pensions Committee that he would appear before MPs that are probing the fall of BHS into administration, risking 11,000 high street jobs.
The parliamentarians also dropped the plan to “invite” his wife, Tina Green, to give evidence at the showdown, expected to take place on June 15.
His decision comes as Business Secretary Sajid Javid ordered the Insolvency Service to fast-track an inquiry into BHS’s plight.
Sir Philip has been accused by Labour of taking millions in dividend payments while the firm was heading towards a crash.
Sports Direct cashes in on rival JD Sports' share sale
Sports Direct has offloaded JD Sports shares worth nearly £12.5m as it eyes a fresh bid for department store chain BHS, now in administration, The Guardian has reported.
The latest sale hands the sportswear retailer, controlled by Mike Ashley, a 4.6% stake in its rival, down from more than 7%.
Ashley is also thought to be eyeing collapsed menswear specialist Austin Reed.
Amazon could begin fresh food deliveries in UK this month
Amazon is understood to be considering rolling out fresh food deliveries in the UK this month, intensifying the pressure on the Big Four, The Guardian has reported.
The etailer is thought to have trialled the service from its depot in east London and asked suppliers to start deliveries in the next few weeks.
Shop prices down 1.7% in April
UK shop prices dropped 1.7% year on year in April, matching its most moderate level in eight months.
Food prices increased for only the second time since August, inching up by 0.1% from April last year, according to the BRC-Nielsen Shop Price Index.
Non-food prices declined 2.9% last month.
The stagnation of shop prices was driven by intense competition across the retail industry as shops resorted to more discounts to try to bring in consumers, BRC chief executive Helen Dickinson said.