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Avery Dennison Q1 2008 Earnings Call Transcript

Avery is about the pricing--high and going higher. Businesses are buying more like consumers of late and notice. We did and went to a less costly source with equal quality. We would have preferred to stick with Avery but pricing went too high. As Sam Walton once said at a Saturday meeting and in Made in America, "You can only talk about one store or one product and its competition; talking about lines or chains doesn't get you too far." In that light, we bought their 5160 address labels (3000) for $26 at Avery, $24 at Costco. We got a flyer in the mail and paid $8.95; guess where we went? And for 8 more Avery products.

And they "brag" about raising prices--ouch. CEO makes too much money perhaps to understand that--price matters. Dump this baby.