BIC CAMERA Final profit to decrease by nearly 90%

BIC CAMERA Final Profit to Decrease by Nearly 90%

BIC CAMERA, a major consumer electronics retailer, has revised down its forecast for the year to August, saying that its net profit will be nearly 90% lower than previously forecast. This is because the spread of the new coronavirus has greatly reduced the number of foreign tourists visiting the store and has been forced to close the store.

BIC CAMERA has revised its forecast for the entire group up to August, and expects sales to be 841 billion yen, a decrease of 100 billion yen, or 10%, from the previous forecast.

The final profit is expected to be 1.8 billion yen, a significant decrease of 13.6 billion yen or 88% from the forecast so far.

This is because the spread of the new coronavirus has greatly reduced the number of foreign tourists from China and other countries, and has been forced to close stores and shorten business hours, including the Kojima and Sofmap Group companies.

The company has explained that the spread of the new coronavirus may delay the procurement of products such as home appliances, and plans to carefully assess the impact on business results.