Bic Camera Inc., a major home appliance and electronics retailer, raised its sales and profit projections for the current business year on Thursday, citing strong sales of flat-panel TVs and other consumer electronics subject to the government Eco-point purchase incentive program.
For the year ending in August, Bic Camera now expects a group net profit of ¥5.2 billion on sales of ¥600 billion, up from its earlier respective forecasts of ¥1.6 billion and ¥595 billion. The firm now also expects to book a net profit of ¥1.6 billion in the September-February first half of the current business year.
Daiei posts loss
Supermarket chain Daiei Inc. said Friday it posted a group operating loss of ¥1.16 billion for the year to February in a reversal from the previous year's profit of ¥5.93 billion as sales declined 6.2 percent to ¥976.82 billion amid weak consumption.
The company also reported a consolidated pretax loss of ¥4.71 billion against a profit of ¥2.60 billion logged the year before.
