Home > company information, News & Feedback > Profit warnings (business news)

Profit warnings (business news)

Tesco features heavily in the current business news following a recent profit warning. The library’s business databases are very valuable if you want to research this in more detail.

Dow Jones Factiva is a business news database that covers a wide range of newspapers and trade journals. The news articles are indexed to make it easier to locate the information you need.

The screenshot below shows results for the following search criteria:

  • Company – Tesco PLC
  • Subject – Profit Warnings
  • Date – In the last 3 months

Note that you can scroll down the left hand column to get useful summaries of the results.

Factiva - Tesco news (click to expand)

Factiva – Tesco news (click to expand)

This search does not give the Tesco profit warning. It gives all the news articles about a profit warning that also mention Tesco PLC within the article. There have been several articles about the profit warning in the Financial Times, The Guardian, The Telegraph, The Independent, …

Selecting an specific source, for example Financial Times, is a useful way of restricting your search results to a more manageable number from the original 471 (193 eliminating duplicates). In this example it is then easy to identify that Tesco PLC issued its profit warning on Friday 29 August 2014.

We now expect trading profit for 2014/15 to be in the range of £2.4bn to £2.5bn. Trading profit for the six months ending 23 August 2014 is expected to be in the region of £1.1bn. (Tesco PLC, 2014)

This “Trading Statement” – note that Tesco does not issue a statement that uses the term “profit warning” – is available on official RNS news from the London Stock Exchange (see LSE – News and Events – RNS). It is also available from the  PI Navigator database.

PI Navigator is a specialist database covering global company filings (e.g. annual reports, IPO propectuses, news announcements, mergers and acquistions)

The following screenshot shows results for the search criteria:

  • Company – Tesco PLC
  • Classification – Trading and Operating Updates
  • Issue Date – After 30 June 2104 (3 months)
PI Navigator - Tesco trading updates (click to expand)

PI Navigator – Tesco trading updates (click to expand)

Note that in PI Navigator it is not possible to search for profit warnings – you have to search for all the market sensitive trading updates that have been released by the company. On the plus side it is quick and easy to find the Tesco PLC Trading Statement of 29 August 2014, and the later trading update about profits for the six months to August 2014 being overstated by an estimates £250m.

References

Tesco PLC (2014) “Tesco PLC – TSCO Trading Statement Released 07:00 29-Aug-2014”, Available at http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12066364.html, (Accessed 30 September 2014).

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  1. markgreenwood
    4 October 2014 at 1:19 pm

    More bad news for Tesco with Warren Buffett describing his investment in Tesco shares as “a huge mistake” – http://www.bbc.co.uk/news/business-29457053

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