Retail news round-up: UK shop prices decline and TPG and Advent show interest in Rapha.
UK shop prices decline
UK shop prices have declined at the slowest level of deflation since November 2013, according to the British Retail Consortium (BRC).
According to the BRC data, overall shop prices declined 0.3% year-on-year in June.
On average food prices increased 1.4%, while non-food products reduced 1.4% during the month.
Ambient food inflation slowed to 1.5% in June, but fresh food prices increased 1.4%, the fastest surge since February 2014.
BRC chief executive Helen Dickinson said that the data showed the UK retail sector had “edged” towards “ending a four-year deflationary trend”.
TPG and Advent interested to bid for Rapha
TPG and Advent International, the private equity groups, have decided to bid for Rapha, the cycling brand, Sky News reported.
Some of the earlier offers made were valued to £150m.
The decision of sale comes on the back of soaring revenues at the business.
The sale of Rapha will allow shareholders to cash in on fast-growing interest in cycling.