1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. J Sainsbury plc
  6. News
  7. Summary
    SBRY   GB00B019KW72

J SAINSBURY PLC

(SBRY)
  Report
Delayed London Stock Exchange  -  05/16 11:37:56 am EDT
244.20 GBX   +2.26%
02:39aBritish baker Greggs warns of increasing cost pressures
RE
05/13HSBC Cuts Sainsbury's PT, Affirms Hold Rating
MT
05/13Britons cut back on petrol amid cost of living squeeze
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Britons cut back on petrol amid cost of living squeeze

05/13/2022 | 06:37am EDT
FILE PHOTO: A motorist fills his car with the new E10 grade of unleaded petrol at a filling station in Liverpool

LONDON (Reuters) - Britons are cutting back on petrol and diesel purchases as they reduce the number of car journeys they make to save cash, amid a worsening cost of living crisis.

Darren Briggs, managing director of the Ascona Group, which operates 60 fuel stations across the United Kingdom, said on Friday sales volumes were down 6-8% over the last six weeks.

"We are seeing our customers making that 20 pound to 30 pound ($24.4-$36.6) purchase of fuel last that little bit longer," he told BBC radio.

Britain's Office for National Statistics said on Thursday that people cutting back on car journeys due to rising prices at the fuel pumps was one of the factors in the UK economy shrinking by 0.1% in March.

Surging prices are causing the biggest squeeze on UK household incomes since at least the 1950s and consumer confidence is at near record lows.

Last month, official data found almost a quarter of Britons were struggling to pay household bills, while the boss of the country's second largest supermarket group Sainsbury's said shoppers were "watching every penny".

Cash-strapped Britons are cutting back on meat, fish and alcohol, buying more cheaper own-brand food from supermarkets, reducing subscription streaming services such as Netflix and cancelling repair warranties on domestic appliances.

Earlier this week, John Allan, the chairman of Tesco, Britain's biggest retailer, said shoppers had started to ration their food purchases.

"I was hearing for the first time for many years of customers saying to checkout staff: 'stop when you get to 40 pounds ... I don't want to spend a penny over that,'" he told BBC radio.

Allan and Sharon White, the boss of department store retailer John Lewis, have called on the UK government to do more to help those suffering the most from the cost of living squeeze.

($1 = 0.8198 pounds)

(Reporting by James Davey; Editing by Mark Potter)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.02% 157.425 End-of-day quote.-5.39%
J SAINSBURY PLC 2.43% 244.2 Delayed Quote.-11.31%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.02% 133.2 End-of-day quote.-5.46%
NETFLIX, INC. -0.60% 186.51 Delayed Quote.-69.04%
TESCO PLC 1.96% 287.5 Delayed Quote.-1.10%
All news about J SAINSBURY PLC
02:39aBritish baker Greggs warns of increasing cost pressures
RE
05/13HSBC Cuts Sainsbury's PT, Affirms Hold Rating
MT
05/13Britons cut back on petrol amid cost of living squeeze
RE
05/09UK's Morrisons clinches deal for convenience chain McColl's
RE
05/09Barclays Trims Sainsbury's PT, Keeps Overweight Rating
MT
05/06Asda owners set to buy McColl's, saving 16,000 jobs
RE
05/05Struggling British pig industry calls for Tesco to step up
RE
05/05Next maintains full-year guidance as Britons carry on shopping
RE
05/04Britons cut back on meat and fish as cost of living crisis bites
RE
04/30J SAINSBURY PLC : Monthly statement on outstanding equity shares and voting rights
CO
More news
Analyst Recommendations on J SAINSBURY PLC
More recommendations
Financials
Sales 2022 29 887 M 36 602 M 36 602 M
Net income 2022 538 M 658 M 658 M
Net Debt 2022 6 356 M 7 784 M 7 784 M
P/E ratio 2022 10,1x
Yield 2022 5,10%
Capitalization 5 679 M 6 954 M 6 954 M
EV / Sales 2022 0,40x
EV / Sales 2023 0,40x
Nbr of Employees 117 000
Free-Float 98,7%
Chart J SAINSBURY PLC
Duration : Period :
J Sainsbury plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends J SAINSBURY PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Last Close Price 238,80 GBX
Average target price 267,69 GBX
Spread / Average Target 12,1%
EPS Revisions
Managers and Directors
Simon John Roberts Chief Executive Officer & Director
Kevin O'Byrne Chief Financial Officer & Director
Martin A. Scicluna Chairman
Phil Jordan Chief Information Officer
Susan Ilene Rice Senior Independent Director
Sector and Competitors
1st jan.Capi. (M$)
J SAINSBURY PLC-13.42%6 783
SEVEN & I HOLDINGS CO LTD12.44%38 851
AVENUE SUPERMARTS LIMITED-30.84%27 017
SM INVESTMENTS CORPORATION-14.32%18 148
COLES GROUP LIMITED3.73%16 964
CARREFOUR30.58%16 370