Full text of G.17 Department Store Credit : April 8, 1965
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F E • s'lcal D E R A L R E S E R V |53? E release April 8* 1965 - FEBRUARY 19^5. -depab K5IJL0 accounts receivable at "reporting department stores declined ke&sedally in February, but at month-rend, were nearly .one-tenth larger than at the olose of February 1964. The usual sharp contraction occurred in charge accounts during .the month. The year-to year increases in this type of indebtedness have been smaller than those in. instalment credit in every month for more than'two years, v Charge account collections were coming in less rapidly in February than in January, but at about the same-rate as in-February „last year. For instalment accounts the collection.ratio remained at 17 per cent of the first-of-month receivables, one percentage point higher than in February 1964. Sales of reporting department stores, which usually decline in February, were off 9 per cent from the January volume this year. Instal' ment sales showed the largest decline" as usual, but still exceeded those of -February 1964. Both cash and charge-account sales fell short of year earlier totals, and these declines more than offset the gain-in instalment business. , Item Charge Instalment Department Store. Credit ~ Accounts receivable, end of.month Collection ratios l/ Percentage increase Percentage distribution or decrease from: Jan.'65 Feb.'64. Feb,'65 Feb.'64 Month ago Year ago Feb.. '65 Jan. '.63' 58 17. 59 5 40 . 48-: 49 48 60 17' 17 16 Department Store Sales Item Percentage?. increase . or decresise from: Year ago Month ago Total - 9 •' - Cash - 8 Charge - 4 instalment - 16 of month. Digitizedbeginning for FRASER r. Perccmtage distribiition 1 January '65 February 64 DT'V-' r e u l UcLL,y :l ; n ^J : • 1 ' - 6 4 100 * >3; 43. - 36. . 36 . 21 iQQ 42 ' . - » 19 ; DEPARTMENT .STORE CREDIT -.FEBRUARY 1965 Sales hy Type Percentage increase or decrease (-.) Federal . Reserve . 1/lS LZ «lv u Boston" ltet£ York Philadelphia .ClevelandRichmond Atlanta Chicago ' St*. Louis Minneapolis Kansas City Dallas San Francisco Cash sales Total sales v Month ago Month" Year . ago . ago Year ago -11 1 -11 -2 0 . - 7 -4 -12 - 3 '' — 6 0 -1 :/ -: 3 ' -6 -11 0 -5 -4 -13 . -6 -17 -10 3 Charge-account: • sales "Month . Year ago ago - 11 1 : 2 ' -30 -3 - 9 ' '- 4 ' : - 1 . -11 . " -2 -15 - 9 10 . -8 - - 4 -4 0 - 9 • 2 -11. • - 9 , -15 -1 -12 . 8 0 11 .'X -19 - 7 10 -2 - 9 ' - 5 - 5 - 1 -1 - 1 :5 - 9 , -6 -14 -6 , - . -10 -12 8 11 -6 --8 9 5' -20 -4 -14 - 8 •3 -7 10 • -30 -13 -19 . -8 • ' - 5J 6 0 -23 . - 6 - 3 . 7 • Accounts Receivable, end. • of ;moiith Percentage increase or decrease (-) Federal Reserve District 'Boston New York Philadelphia • Cleveland Richmond •Atlanta Chicago St. Louis -Minneapolis Kansas City .Dallas San Francisco Instalment sales Ye6r Month • ago ago Charge accounts Year: Month ago ago -16 -15 -14 - 6 -19 -15 -24 -10 -11 7 3 3 .1 3 -10 - i 2 -12 ' 8. -17.. 7 • 2 -21 Instalment Year Month ago ago -4 .8 -6 3 4 -4 -5 1 -4 -9 -3 -3 -4 —8 -6 . 6 ...6. 10 • 21; 14.. 14 5 •