On the 10th of June, 1965 Capitol launched "Operation Retrieve", recalling all copies of the Beatles "Yesterday and Today" album from distributors to replace the offending image of the butcher cover. The total cost to Capitol of replacing the cover was $250,000 (equivalent to $1.99 million in 2020), wiping out the company's initial profit.

All copies were ordered shipped back to the record label, leading to its rarity and popularity among collectors. On 14 June, Capitol sent a memo to reviewers asking them to disregard the artwork and quoting Livingston's explanation that "The original cover, created in England, was intended as 'pop art' satire. However, a sampling of public opinion in the United States indicates that the cover design is subject to misinterpretation."

Some US commentators and music industry executives viewed the cover imagery as a statement on Capitol's policy of "butchering" the Beatles' albums for the North American market. In her study of the band's contemporary audience, sociologist Candy Leonard says that some fans recall interpreting the "butcher cover" in this way and supporting the Beatles "and their sense of humour".

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