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Asda apologises to the Harry Potter publishers

LONDON (AP) — Britain's second largest supermarket chain apologised yesterday for criticising the publisher of the Harry Potter books, ending a dispute that had threatened to keep J.K. Rowling's latest volume off its shelves.Asda, owned by Wal-Mart Stores Inc., said it apologised "unreservedly" to Bloomsbury PLC, and withdrew a statement accusing the publisher of "blatant profiteering" on its suggested retail price for "Harry Potter and the Deathly Hallows".

Bloomsbury said earlier yesterday that it was cancelling the supermarket chain's order for 500,000 copies of the book, the seventh and final volume of the boy wizard's adventures, because Asda owed the publisher money.

Asda later said it had sent money, but neither side would disclose the amount involved.

In a statement, Asda said the book would be in its stores in time for the official launch on Saturday.

"Asda apologises unreservedly to Bloomsbury for its press release dated July 15 and withdraw their statement," the retailer said.

"We look forward to a good relationship with Bloomsbury going forward including selling the latest Harry Potter book."

In that release, Asda accused Bloomsbury of "attempting to hold children to ransom" and "blatant profiteering" by setting the price too high.

Bloomsbury's marketing director, Minna Fry, said the publisher was "pleased that this situation has been resolved and (we) look forward to working with Asda in the future".

Asda had earlier accused Bloomsbury of retaliating for its criticism of the book's recommended retail price of $17.99 ($37). Asda is selling "Deathly Hallows" on its web-site for $8.87 ($18.14).

Bloomsbury denied the dispute was connected to the price of the book. Many large chains are offering "Deathly Hallows" at big discounts, with supermarket Tesco matching Asda's price and book chain Waterstone's selling it for $8.99 ($18.38).

Joel Rickett, news editor of trade magazine The Bookseller, said it would be "extraordinary" if a retailer as big as Asda, which has more than 300 stores across Britain, did not stock the book.

"There would be a lot of disappointed children, and financially as well it would be a huge blow for Asda, in terms of revenue if not in terms of profit," he said.