INDIGO OFFERS BETTER DEALS FOR CANADIAN BOOKLOVERS
As the Dollar Rises, Book Prices Drop at Indigo, Chapters and Coles Stores
Toronto, ON – October 31, 2007 – With the Canadian dollar on the rise, Indigo Books & Music Inc. (TSX:IDG) is offering consumers better deals on the books they love. In the past four months, the price of approximately 25,000 books reduced anywhere from 5% to 30%, with more price reductions to come. And in store at Indigo, Chapters and Coles, best sellers are 30% off everyday, and 40% off for irewards members, bringing many bestselling books to par or better than US prices.
Bestseller Savings at Indigo, Chapters & Coles
|
Title, Author |
US Price |
CND Price |
Our Price
30% off Bestsellers
|
|
Playing for Pizza, John Grisham
|
$21.95
|
$26.95
|
$18.87
|
|
You’ve Been Warned, James Patterson
|
$27.99
|
$32.50
|
$22.75
|
|
World Without End, Ken Follett
|
$35.00
|
$42.00
|
$29.40
|
Age of Turbulence, Alan Greenspan
|
$35.00
|
$42.00
|
$29.40
|
|
Giving, Bill Clinton
|
$29.95
|
$24.95
|
$17.47
|
Indigo is further narrowing the pricing gap for Canadian booklovers by offering
great promotions, including the Sticker Savings Event*, which provides customers
with an additional 10% off any book, 20% for irewards members.
And online at chapters.indigo.ca, Canadians will continue to save more on millions
of titles with everyday deep discounts of up to 50% and free shipping** anywhere
in Canada.
The Canadian price printed on books is determined by the publisher often six months before a book appears on store shelves and often does not reflect the current exchange rate. The books that are coming into Indigo and Chapters stores today were printed when the exchange rate was $0.85.
Although book prices are coming down, the current pricing disparity has frustrated Canadian consumers and book retailers are taking action. “We buy and sell books in Canadian dollars,” Joel Silver, Chief Merchant, Indigo Books & Music Inc. notes, “and as such do not profit in any way from a strengthened Canadian dollar. We continue to lower our prices and we’ve introduced more promotional offers than ever before to help close the price gap.”
While Indigo continues to work with publishers to find long-term solutions that will deliver the best possible prices to consumers without crippling the Canadian publishing industry, Canada’s largest book retailer also continues to listen to its customers, delivering promotions that enable booklovers to smartly shop Canadian.
* Sticker Savings Event discount applies to the highest priced book purchased
within a transaction of $35 or more. See in-store for more details.
**Free Shipping applies to online orders of $25 or more. See
chapters.indigo.ca for
more details.
About Indigo Books & Music Inc.
Indigo is a Canadian company and the largest book retailer in Canada, operating bookstores in all provinces under the names Indigo Books Music & more, Chapters, The World's Biggest Bookstore and Coles. Indigo operates
www.chapters.indigo.ca, an online retailer of books, gifts, videos, and DVDs.
Indigo is a publicly traded company listed on the Toronto Stock Exchange under the stock symbol IDG. To learn more about Indigo, please visit the About Our Company section of
www.chapters.indigo.ca.
In 2004, Indigo founded the Indigo Love of Reading Fund, a registered charity whose mission is to provide new books and creative learning materials to high-needs elementary schools, enhancing the literacy and self-esteem of students in Canada. Visit
chapters.indigo.ca/loveofreading for more information.
In 2005 and 2006, the Company qualified as one of Canada’s Top 100 Employers in a survey run by Mediacorp Canada. To learn more about Indigo, please visit the About Our Company section of chapters.indigo.ca.
For more information, please contact:
Lisa Huie
Manager, Public Relations
(416) 646-8926
lhuie@indigo.ca