Exchange Rate Sadness
As you may know, we import all of our new product from the US and are billed in US dollars. So while the Canadian dollar has sunk dramatically this summer our costs have gone up an equal amount. We simply cannot continue to offer graphic novels at US cover and maintain the same selection and service, or programs like our VIP rewards.
Big B Barrie raised their exchange rate to 25% on comics and graphic novels back on August 4th and now the rest of Big B has to follow suit.
Effective immediately we will be instituting US-CDN conversion of 25% on all new comics and graphic novels in store.
We have held the line at 20% on new comics and US cover on trades since the winter even though the CDN dollar has continued to lose ground. Forecasts all around are that this is not going to change anytime soon.
Our prices stay at the same crazy cheap level for our used GN section, our $2 & $5 bins for back issue comics, and everything else in store that is not a new comic or graphic novel.
At 25% exchange we are still roughly 9% under what the actual exchange rate is today. We will lock in at this rate for the foreseeable future, unless the CDN dollar rebounds and we can lower prices again.
Changing the prices today will allow us to continue to serve you as you have come to expect over the years: lots of awesome and different product, a massive selection, and the rewards points that you love.
If you have questions or concerns please do not hesitate to contact us via email [email protected].