Strange this should be brought up. I was wondering about it myself as I made my weekly purchase from my B&M. The owner who has become a 'friend' of mine will give me a break on boxes of my daily smokes. Comparatable to buying them on line. His per stick price is definately higher than most on line shops. He explains it over and over to people that he has a keystone mark up on all his cigars. I happen to know it is 100% over his retail price.
And I have flatly told him I would not buy certain cigars from him because he is $1.00 too high on them. He always asks how I know this and I tell him - because I use the internet. Some of the other B&M's I visit are 110% to 140% mark up, They only get my business on a few select cigars.

Anyway I spend about $40.00 at my local B&M every week, but I spend many times this on line. I work too hard for my money to burn it all up.