Soaring costs force Wordsworth Editions to raise Classics prices

Wordsworth Editions is to increase the price of its Wordsworth Classics range due to rising paper prices and distribution costs as a result of the currency fluctuations caused by uncertainty surrounding Brexit.

The Wordsworths Classics range, which are inexpensive editions of around 270 classics including The Great Gastby and Jane Eyre, have been priced at £1.99 for over a decade (since January 2006), but this price will be raised to £2.50 from 1st June, the publisher said. Before 2006 the price of the series was £1.50 per book.

The company said in a statement: "It is with the greatest regret that we are being forced to increase our retail price. This said, the Wordsworth Classics still remain the most competitive in the market place. Having held the r.r.p. of £1.99 for well over ten years, this is now impossible to continue doing so. The margins we work on are exceptionally low and Brexit has had a serious knock on effect from increases to the actual printing and binding, paper, distribution and indeed transport costs."

Wordsworth Editions m.d. Helen Trayler told The Bookseller that the company is "naturally disappointed" to have to increase the retail price, but was "pleased" that the increase had only been limited to £2.50 per book, given the deflation of the pound since the UK voted to leave the European Union last June.

She added: "Like all publishers, we have been experiencing a gradual increase in print costs over the years as paper prices have risen, which we have been able to absorb up to this point while at the same time carrying out a programme of continual improvements to the production quality and content of our books. However further increases resulting from the adverse move in exchange rates following Brexit coupled with the shrinking number of global paper suppliers has had an inevitable effect when added to the general rise in production and delivery costs, and has left us with no choice but to address these problems."

She said trade reaction to the price hike had been "very positive, with many customers expressing surprise that we have been able to maintain the pricing level for so long."

Trayler added that there would be no price increases to the other series produced by Wordsworth Editions including its World Literature and Mystery and Supernatural series.

Derek Wright, director of Wordsworth Editions, added that he does not expect the increase to have "any adverse effect" on the business. "Sales continue to grow year on year thanks to our continuing growth in the educational market and we would not expect there to be any adverse effect from this increase – in fact I’ve seen a fair number of shops selling our books for in excess of the r.r.p. so it may be a welcome move for some”, he said.

Other publishers have also previously complained about rising printing costs as a result of Brexit, while others have welcomed increased export sales following a drop in the pound.