JOHN OSTRANDER: Comic Books, Peanut Butter and Anchovies
For twenty-five years, Mike Malve down in Arizona ran a successful line of comic book stores called Atomic Comics. I knew him from his weekly e-mail messages that he sent out. Nice chatty e-pistles about what sold last week, what was coming out this week, assorted thoughts about the industry, various promotions he was running, different guests he had visiting and so on.
I’d never been to his stores but Mike and I exchanged several e-mails. He always struck me as a good solid sort of retailer, one who knew and loved the industry, worked hard, promoted the work and those who made it. The sort of guy you wanted to see make it.
Two weeks ago, he closed down all his shops. There were lots of factors contributing to the closings, as he detailed in his last report. When the times were good, he expanded into high profile locations but, as he said, “when the economy went sour, low sales could not support the higher rent at these high visibility locations. The leases at these particular stores which had originally provided the consumers with greater visibility and more foot traffic to our wonderful world of comic books, the higher overhead proved to be too much for Atomic as we faced declining sales.”
He traces the decline back to an incident in 2006 when a 16-year old uninsured driver crashed her car through the front window of his biggest store and best revenue producer. The accident tore up a water main and the flood caused a million dollars worth of lost revenue and the store closed down for over five months. This was just as the recession started.
Mike secured the leases on the stores with his house so he’s going to be losing that as well as going into bankruptcy. Throughout it all, he’s maintained as cheerful and upbeat an attitude as he can manage – better than I could in his circumstances. He hopes to find some way to remain in the industry he loves.
Just two weeks later, this last week, DC launched its latest version of its titles in a sweeping revamp that includes same-day digital sales. At the same time, we see Borders closing its doors and various and sundry people have announced the death knell of the brick and mortar bookstores of all stripes.