TORONTO - Instead of dropping its Canadian prices, a U.S. magazine publisher has quietly removed the American price for its magazines -- leaving only the Canadian price on the cover.
But despite the loonie being at or near parity with the U.S. greenback, the Canadian magazine prices remain up to 30 per cent higher than what Americans pay for the same Hearst Magazines publications.
New York-based Hearst is the publisher of such magazines as Cosmopolitan, Seventeen, Esquire and The Oprah Magazine.
An unnamed Hearst official tells the Toronto Star the reason for the move to single pricing in Canada is to eliminate any confusion among consumers, adding it was done at the request of Canadian wholesalers.
The higher prices for items like magazines, books and greeting cards in the face of dollar parity have been a magnet for Canadian anger.
Some retailers, like Wal-Mart Canada, have been charging customers the U.S. prices on its magazines and books to ward off customer complaints.
But other retailers, like Indigo Books and Music, say their hands are tied because it is the publishers who decide the prices.
