Hogwarts is no gold mine

<p>The publication of Potter 7 should provide a huge boost to book stores. But, reports the Telegraph, Hogwarts is not the gold mine it might seem. &quot;Indeed, for all the hype and bluster, the book might as well be retitled Harry Potter and the Damp Squib as far as retailers&#39; profits are concerned. Due to rampant discounting, few shops selling the book, from Waterstone&#39;s to Tesco and Amazon down to small independents, will make any money. Most will break even and many will make a loss.&quot;<br /><br />It appears that no-one is happy. Minna Fry, Bloomsbury&#39;s marketing director, told The Sunday Telegraph that she finds the excessive discounting &quot;distressing&quot;. <br /><br />The Harry Potter situation is emblematic of wider shifts going on among book retailers, says the newspaper. &quot;The emergence of super-markets as a new force in bookselling has resulted in fearsome price wars surrounding big titles. Small retailers and traditional high street chains find it increasingly hard to compete on price and are at the mercy of publishers and wholesalers. Proposed consolidation in the book wholesaling sector - through Woolworths&#39; acquisition of Bertram Group, which will reduce the number of large wholesalers from three to two - has sparked fears that prices to small retailers could be raised even higher and has prompted an inquiry by the Competition Commission.&quot;</p>