Full text of G.17 Department Store Credit : August 2, 1957

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BOARD O F GOVERNORS OF THE FEDERAL' RESERVE SYSTEM
G.I?

August 2, 1957
D E P A R T S ? STORE CREDIT ^ JUNE 1957

Instalment accounts outstanding at department stores at the
end of June were down slightly from the level of the preceding month.
Compared with a year ago, however, amounts outstanding were up 7 per
cent. The ratio of instalment collections to' first-of-month balances
was lli per cent, 1 point less than both a month,ago and a year ago.
Charge aceounts receivable also declined from May to June,
when some decrease is usual, but continued 2 per cent above the corresponding month last year. Collections on charge accounts amounted
to U6 per cent of balances outstanding on the first of the" month, the
same ratio as was reported in the preceding month and in June last
year.
\
At reporting department stores, both cash and credit sales
declined moderately from May to June. Cash and charge-account sales
were also less than in the same month of 1 9 % instalment sales, however, were up 1 per cent.
Changes in Department Store Sales and. Accounts Receivable

Item

Sales during month:

-

Total
Cash
Charge
,
Instalment

Accounts receivable, end of month:

Percentage.change from:
June 1956
May 1957
to
to
June 1957
June 1957

|

'

-7
-6
-9
-5

.

'

*2
+7

-2
-1

Charge
Instalment

-L
-5
-5
l

ii

Item

Collection ratios l/:

Charge accounts
. Instalment accounts

Percentage distribution of sales:

Cash
Charge
Instalment .

%

li6
1U

-• 15
.12
i3

:

. Kay
/ 1957

81

Collection Ratios and Percentage Distribution of Sales

U6
15

us
15

•a
. - h3
• 13

U5
' U2
. 13

:

l/ Collections during month as a percentage of accounts receivable at
•
^

Digitized for beginning
FRASER of month.


G.17

-

2

-

DEPART1-E17T STORE CRLLIT - JUNE 1957
Sales by type
(Percentage changes)

federal
District

Boston
•:c-v:. York •
Philadelphia
Cleveland Rich;, j nd
-Chica.c .

Total sales

Cash sales

May '57 June 1 56 jHay '57 June ! 56
to
to
to :
to
June'57 June'57 1 Junef 57 June'57
- 7
- 3
- 7
-11

-20
-12

Ilinnypolis
'Kansas City
I:::a=
£ r. rrancisco

-16
- 5

U. S« Total

- 7

-6 .
-6
-2
-5
-3
-3
-5
-u
+2
-3
-b
-

1

-k.

1
|
|
I
!

-5
- 5- 5
- 6
-10
-17
- 7
-11
- 8
- U
-13

+3

I

-6
-7

Charge-account
sales
:Iry '57 June'56
to
to
June 1 57 June'57
-

-6
-6
-5
-6
-7
>2
+-h
k
-2

9
3
9
7

. -16

-26
- 5
-15
-20

-5

Instalment
sales
Hay '57
to
June'57
-9
h

+

-7
-k
-8
-U

- 5
h
-16
- 9
- 8
-26
-13
-

-2

-8

-3
+
2

-11

-2

~2h

+ •2

. 0

-1

- 9

-5

- 5

Accounts receivable, end of month
(Percentage changes)

Federal
Reserve
District
Bo sto n
Hex-: York
PhiladelphiaCleveland
kicimrxid
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
U. S, Total




Charge accounts |
June 1 56 I
nay '57
to
to
June'57
June'• 57
-1
+ 1.
-3
-2
-h
-6
-2
-2
-7
-2
-6
-2

Instalraent
June'56
Hay '57
to
to
June'57
June'57

-;-3
-a
-2
+•5
+k
+1

-3
+1
0
-2
,0
0
-h
+3
-2
-2
-1
-2

- 2
+ 20
- 1
+
3
+ 13
+ 2
+ 5
+ 9
+ 19
-lh
-- 5
+15

+2

-1

+ 7

-3
+
6
+1
0
+
h
+1

'