Full text of G.17 Department Store Credit : February 6, 1948
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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G.17.3 February 6, I9I48 DEPARTi.ubNT STORE CREDIT Instalment account$ outstandift^; at; department''stores; showed more than the customary rise-in December, -and. continued, considerably-larger than a year ago. Although the increase in collections on instalment Accounts was substantial, the ratio of collections during the month to Accounts outstanding at the beginning of the month was' down one point to 29 per; cent; "The average repayment period for instalment accounts outstanding in December was six. months as compared1 with four and one-half months in December.19 k6. " ' ; .Charge, accounts receivable increased slightly hore than the usual amount in December, and'at the year-end were 18 per cent above the level of a year earlier. Collections on charge accounts rose 10 per cent' during the month, resulting in a collection ratio pf 5it per cent,'the same, as! in December. 19L6. At the currentrate of repayment change accounts would be outstanding,/on the average-, £6 days. Credit sales of department, stores showed more- than the customary ex-- : pansion from November to December. Charge-account Bales.exceeded the year-ago volume by almost two-fifths,' but instalment sale's wpre up li3 per cent' from- a • ' year earlier". "• Cash sales increased' seasonally -in-December - and were* slightl-y-- - larger than in the corresponding: month- of I9U6 .- .TheratjLo of this t ^ e of transaction to total sales was 5k per dent in December. Department Store Sales, Accounts Receivable and Collections Ferceiytage'^'hahge from: , November, ly.kl pecember 19^6 December 19U7- December 191:7 Sales during month Cash Instalment; • Charge account : \ , j ; +ia +26 >37; & +8U +18 +13 ' +10: +L2 +15 Accounts receivable, end of month' Instalment .accounts Charge accounts Collections during month Instalment '"accounts Charge accounts ; 1 :• Ratio of collections during month to accounts Instalment accounts Charge accounts vabXe at beginning of month Dec. 1917 N,ov. 1917 29. 30 55 % . Dec. • 19U6 36 5U Mote .—Figures, for December 19ii7 are preliminary and subject to revision 6.17.3 - 2 D2FARTI.OT STORES' - DECEMBER 19k7 Cash and Credit Sales, by Federal Reserve Districts Cash sales Dec. Nov. 19k7c 19k7 Boston New York . Philadelphia Cleveland Richmond Atlanta Chicago Sty Louis Minneapolis Kansas City • Dallas San Francisco 3# 257 270 380 '28k k22 263 389 276 107 321 321 293 399 300 3# 315 m . #8 ' #6 375 5k3 126 292 U. S. Total . kOO 285 Indexes; 19kl average = 100 Charge--account sales Instalment sales Nov. Dec. Dec. Nov. Dec. Dec. 19k7p. 1917 19k6 19k7p / 19 k7... 19k6 |l Federal Reserve District k92 563 131 276 302 31b 291 22k 209 262 3 III 260 332 #6 252 212 235 23k 230 .2# 256 197 2k7 : 2lU ' 27k 313 ,191 259 23k 222 180 1:75 136 180 220 163 152 219 153' 313 313 355 356 338 309 351 3k5 366 353 k28 37k 381 281 223 197 3k7 353 371 390 361 368 307 380 376 khz 267 272. 292 309 288 255 276 291 305 278 368 327 .232 227 283 2k5 2k2 267 258 267 259 253 31k , #6 2% 293 Accounts Receivable and .Collections, by Federal Reserve Districts Accounts outstanding, end of.month Collection ratios* Indexes; 19U- average = 100 Federal Instalment Charge accounts Instalment Charge accounts Reserve District . Dec. Nov. Dec Dec. Nov, Dec, Dec. Nov. Dec. Dec. Nov. Dec. 19k7p 19k7 19k6 19k7p 19k7 19k6 19k7p 19k7 19k6 19k7p 19k7 19k6 Boston 10k '"82 155 Kevr York' 10k 12k 77 Philadelphia 76 lk5 Ilk Cleveland 162 138 76 Richmond 121 78 95 Atlanta 88 157. 12k Chicago • 106 88 59 100 St.'Louis 12k 79 Minneapolis 129 153 97 Kansas City "163 83 135 Dallas 171 ; 138 83 San Francisco 127 1Q8 65 U. S. Total 137 111 75 223 2k8 195 188 207 239 308 230 225 270 205 237 206 196 251 2k6 192 197 213 223 273 228 292 23k 279 • 219 211 191 19k 2k3 263 21k . 221 262 196 256 2k 22 26 25 28 26 k3 3k 3k 33 27 3k 22 2k k7 30 27 k5 28 36 k5 25 3k 5k 25 30 k2. 26 k2 33 63 kk 5k 37 k3 • 55 32 . 38 .59 3k k3 6k 29 37 59 36 k3 . 65 56 55 k7 k-2 6k. 55 57 59 59 65 k7 k6 55 52 k9 k6 6k 59 65 66 61 5k 20k 29 30 55 5k 263 223 .36 5k k7 h7 p - Preliminary. , . . * - Collections during month as percentage of accounts receivable at beginning of month. ' , •Note.—These data are based on reports of about k75 large department stores reporting sales by type of transaction, more than kOO having charge accounts and about 300 having instalment accounts. Back figures may be obtained on re. quest from the Division of Research and Statistics.