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4:42 AM 01/26/2013
Louisiana state regulators recently cracked down on a supermarket chain‚Äôs weekly promotional deal because it was selling milk too cheaply ‚ÄĒ which violates state law.
The upscale Fresh Markets was selling gallons of milk for $2.99 as part of a weekly promotional deal. Louisiana requires that retailer price markups be at least six percent above the invoice and shipping costs of the product.
‚ÄúBecause milk is a commodity product with regulated costs that are subject to change, at the current cost, due to Louisiana state law, we are unable to honor the $2.99 Tuesday deal for (Fresh Market) milk,‚ÄĚ according to a statement from Drewry Sackett of BRAVE Public Relations, who represents Fresh Market. ‚ÄúBecause the cost of milk fluctuates, it is possible that we will be able to offer the $2.99 deal on milk again in the future.‚ÄĚ
‚ÄúThey can sell it six percent over cost all day long. It‚Äôs when they sell it below cost that it becomes a problem,‚ÄĚ State Agriculture and Forestry Commissioner Mike Strain told The Advocate.
After getting a complaint about Fresh Market‚Äôs promotional deal, Strain‚Äôs office sent an auditor to a French Markets store.
At least one Fresh Market shopper was outraged when he found that the state government had intervened to control the store‚Äôs milk prices.
‚ÄúShould we do the same thing with bread? Should we do the same thing with soft drinks?‚ÄĚ asked Lafayette stockbroker Kenneth Daigle. ‚ÄúIf retailers want to take a loss, so be it.‚ÄĚ