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Waterstone's 'must' discount Harry

04.05.07

Waterstone's owner HMV yesterday defended its decision to sacrifice profits and offer the forthcoming Harry Potter book at half price, suggesting a price war had left it with little choice, reports the Guardian. The group also admitted thae the book market had slowed in recent weeks, partly hit by hot weather.

HMV chief executive Simon Fox said the whole market for the final instalment of the boy wizard's tale would be at half price and cited Ottakar's, now owned by HMV, as an example of the price to be paid for not joining in a Harry Potter price battle. "Not being price competitive on the book seemed to set a perception that the store was high price. There are very few books that have that level of publicity," said Fox. "If we try to be anything other than half price we are setting the Waterstone's brand off as high price and that's something we are trying to change."

Guardian

waterstone's harry potter Simon Fox HMV

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