From today's online version of the Globe and Mail, "For Bookstores, soaring loonie yields plot twist on prices":
Publishers who distribute U.S. books in this country are scrambling to reprice their products, after an outcry from book stores and consumers unhappy over the outdated exchange rate used to calculate Canadian prices.
Canadian book buyers will soon see discounts of up to 20 per cent on some American-published books, as prices are shifted to take into account the soaring loonie.
Most publishers have already made pricing changes with new books, or reprints, that have been printed recently, reducing the difference between the U.S. and Canadian price to about 20 per cent. Book sellers say that markup is reasonable because of the higher costs of distributing books in Canada. Still, it can take up to a year for a newly priced book to work its way into a store.
More significantly, some publishers have promised to change pricing on their backlists -- effectively altering the retail cost for books printed over a year ago, where there is the biggest price discrepancy because of the exchange rate.
Not all retailers will handle the price changes the same way. Some, like Mr. McNally, will make sure there are new price stickers on all repriced books to indicate the changes. Indigo and Chapters book stores, on the other hand, will put up signs to tell customers to check with cashiers to see whether the prices marked on the books have been reduced. Sorya Ingrid Gaulin, spokeswoman for Indigo Books & Music Inc., said the new prices will be in the computer system and show up at the cash register.