Retail news round-up: UK shop prices decline, shares in Burberry increase and Greggs reports increase in sales and profits
UK shop prices declines while food prices rise
UK shop prices declined 1% in February following a 1.7% fall in January, according to the British Retail Consortium (BRC), Reuters reported.
Food prices increased 0.4% last month.
BRC chief executive Helen Dickinson said: "It is clear that the significant underlying cost pressures, which have been building over the last year are beginning to filter through into shop prices."
Burberry shares surge
Burberry’s shares increased 5.9% to £17.63 after Albert Frère disclosed a 3% stake in the business, The Telegraph reported.
The company expects full-year pre-tax profit to be in-line with market expectations of £440m.
Greggs reports increase in sales and profits
Greggs has reported 7% increase in total sales to £894.2m, while pre-tax profits increased to £75.1m, The Times reported.
The range of breakfast choices including yoghurts, fruit, nut snacks and gluten-free items helped to increase sales and profit.
Like-for-like sales were up 4.2%.