TOKYO -- Electronics retailer Bic Camera is expected to report an operating profit of about 22 billion yen ($194 million) for the year ended in August, flat on the year and missing its forecast as foreign tourists' appetite for big-ticket items waned.
The Tokyo-based company had projected a 5% increase in profit to 23 billion yen. A drop-off in volume sales to Chinese tourists took a toll, as did higher-than-expected sales and administrative costs linked to store openings and renovations. Efforts to consolidate logistics facilities with unit Kojima also pushed up costs.
