Harry Potter magic spells losses for booksellers
Big Sale On Harry Potter! Online retailer Amazon.com and Wal-Mart Stores Inc. have slashed nearly 50 percent off the book's $34.99 list price, forcing many independent booksellers to follow suit to stay competitive. Wwith widespread discounting biting a gigantic chunk out of any potential profits, many booksellers are not enthused about its release. And for smaller, independent book stores, the discounting makes for a hard calculation.
"The bookselling trade has lost millions by having to discount Harry Potter as heavily as they do," said Caroline Horn, children's editor at Bookseller, a British trade magazine.