The Fed (Federation of Independent Retailers) has slammed News UK’s decision to reduce newsagents’ profit margins for six months, as part of increases to the cover prices of The Times and The Sunday Times.
From Saturday June 10, weekday copies of the Times will increase in price from £2.50 to £2.80.
The Saturday edition will go up in price from £3 to £3.50, while the Sunday Times will rise from £3.50 to £4.
However, the current retail margin paid for each copy sold, either through subscriptions or over the counter, will be reduced and will not return to percentages equivalent to current levels until December 9.
The Fed’s National President Jason Birks said: “It is very disappointing that News UK has chosen to penalise its most loyal trading partners by cutting percentage margins and deferring a return to current levels for six months.
“It is totally wrong to delay paying retailers their fair dues, particularly on countertop sales where there is no justification for delaying the increase. Once again, news retailers are losing out while helping to swell the coffers of the publishers.”
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