Coop cuts prices on 89 Italian magazines
Coop has scored its first victory in the battle with publishers over passing on currency gains. The publisher Johnsons International News Italia is offering the retailer lower prices on 89 Italian magazines, Coop announced on Thursday.
The price reductions range between 10 and 16 percent, as Blick reported on Thursday morning. In mid-March, Coop withdrew 13 magazines from euro countries from sale because the publishers did not want to pass on the currency gains they were making due to the appreciation of the franc. So far, however, only Johnsons has shown itself to be cooperative, according to the press release. By contrast, there are currently no price reductions for French and German magazines.
On Wednesday, German publishers spoke out on the matter. They described the measures taken by the Swiss retailer as arbitrary. The Spiegel publishing house, for example, said that Coop was violating existing contracts in a discriminatory manner by removing magazine titles from its range. (SDA)
