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BOARD OF GOVERNORS OF THE FEDERAL; RESERVE .SYSTEM
G.17

• April 9, 1956.

y

. DEPARTMENT STORE CREDIT - FEBRUARY 1956
'

•

..v

•

;

-

Instalment accounts outstanding at department stores declined "
2 per cent during February, when some deprease is usual. Compared with
a year earlier, month-end balances were up 21 per cent. Instalment
collections amounted to an estimated lU per. cent of first-of^-month re' ceivables, the same as both a month ago and a year agq.__
'
Charge accounts decreased further during February from December's seasonal peak. Balances at the end of the month were 16 per
cent below January, but were 8 per cent above February of last year.
The charge-account collection ratio, estimated at bit per cent, was 1
point above both -a month ago and a year ago.
Sales of all types declined from January to February, as is
usual for this time of year, but continued above a year earlier. Both cash and charge-account sales in February were up 7 per cent from a year
ago; instalment sales were up 18 per cent.

Changes in Department Store Sales and Accounts Receivable
Percentage change from:
Jan. -195?" ' Feb. 1955
to
to
Feb. 1956
Feb. 1956

Item

Sales during month:

-

Total
Cash
Charge
Instalment

Accounts receivable, end of month:

6- .
7
ii.
7

-16
- 2,

Charge
Instalment

+ 8
+ 7
+ 7
•+18
+ 8
. +21

Collection Ratios and Percentage Distribution of Sales

Collection ratios l/:

Charge accounts
Instalment accounts

Percentage distribution of sales:

Digitized for1/ Collections during month
FRASER
ning of month.


Jan.
1956

Cash
Charge
Instalment

-

hh

h3
13

.

,
•

Feb.
1955

U3
iii

Feb.
1956

Item

13
lh-

# .
13

U5

h3
12

as a percentage of accounts receivable at begin-

0.17
1:T STOnZ C:'::LIT - FFBRt'ARY 19^6
Sales by .t^/pe
.('Percentage changes)
Charge-account
Instalir.e nt
Total sales
Cash sales
sales
sales
Jan. 1 5 C FebT'5^ Jan.'56 Feb.'55 Jan.'56 Feb. '55; Jan. '56j Feb. '55
to
to
to
to
to
to I
to
to
Feb. '^6 Feb. '<6 Feb.'56 Feb. '56 Feb.'56 Feb.'56 Feb. '56 Feb.'56

. reserve
District-

+ 6
. -10
+ 7
-10
+ L
+13
+13
- h
+ 2
•+ 7
+ 1
+ 7
+ 7
- L
+ 1
+12
+ 1 •
+ 3
. + 5
- 5
+11
- 5
+ 2
- 9

Drstcn
.. c.r Dork
:%i-2:=lphia
^le-'-elsr.c

y-ciro
Icuis
"i
-ells'
Dallas
Dan j rancisco .
-

U. S. Total

- 6

| + 3

- 6
- 9
+- 2
- 6
+ 1
+ 2
- 5
- 1
- i
- 6
- 5
3
-

1

+ 3
+ 5
+16
+ o ;
+• 1
*
+ u
+ 5
+11
+ 6
• + h.
. + 8.
+ 2
:

+ 7

-10
-12
+ 6
- a
+10
- 0
- 1
+ h
0
- 2
- 2'
- 2

+ 3
+ 7
+11
+11
+ 6
+ L
+ 7
+12
+10
+ 6
+11

-20
- 3
+ 1
+ 1
-lb
0

- n

- 1
+ 7
-12
-11
-23"

• - 5
'

- I -

- 7
+

?

-!
i

Accounts receivable, end of month:
(Percentage changes)

^
2

—
=

Instalment
'Charge accounts
J - " 5 6 Feb.'55 Jan.'56!B'eb.'55
to
to
to
to
i
Feb.'56 Feb. '.56 Feb. 'S6|Feb. '56
1 .
1
+ 1
-16
- 3 1 +12
+10
' ! -i5
- 3 - +21
+10
+21)
j -1U
- 2
I
+26
+ 7
, - 1
ij -15
+23
+ 5.
j -1L
I
- 3
+ 2
+1.8
j -13
• - h
+11
+18
- 2
-17
+ 9
'+25
-11
- 1
+12
-+ 7
0
-12
+ '6
+ 3
- -17
- L
+ 6
, +11
-lh'
' - ?'
+ 2
+31;
-23
- 3

i

District

!

Boston
,
New York
Philadelphia
• Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco

°

U. S. Total




;

-16-

|

- 2

+21

+12
+lS
• +12
+31
+15
+17
+19
+12
+ 6
+ 1
• +16
+25
+16 •