"This is all about the dollar," [Jamie Broadhurst] said in an interview Monday. "There has been endless discussion in the Canadian media about what has been coined 'book rage' since the dollar went to par in September and Canadian consumers, rightly so, were demanding lower book prices."

"The laws of economics demand that we now bring our costs into line with the new cost structure," Broadhurst said. "We live in a new retail world. We have not seen a decrease in units sold, but we certainly have seen a small decrease in top-line revenue."