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h

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3
. mU-u- 6

DEPARTMENT STORE CREDIT
•

JUKE 1943 •

F C D

B ~ m

B

' - "

'
K

. '
Instalment accounts receivable of ..department store's rose' 1" per cent
in June and continued substantially above year-ago levels. • Collections on
,
instalment accounts were somewhat larger than in I l y but, when related to
a
first-of-mdntli accounts receivable, yielded a collection ratio of 24 per. cent
for June, the same as for the preceding month., The, rate - of collection has •
dropped off'in the past year; nevertheless, instalment.accounts are being
liquidated currently in about 7,months, a comparatively short period of time.
Charge accounts outstanding at the end of; June were unchanged, at the May 31 level, but were approximately one-sixth larger than a .year,earlier.
: Collections were up slightly in June, amounting to 52 per cent of accounts •
:
outstanding on the first of the month. During the past three months charge
accounts have been repaid, on the average, in,about' 58 days; in June, 1947, •
the average was around 56 days.
Credit sales of department stores, which customarily decline in
June, were somewhat below the May volume while dash saled remained unchanged.
Sales of all types were larger than a year earlier, the increases ranging
from 43 per cent for instalment sales to 5 per cent for cash transactions.
-Department Store Sales, Accounts Receivable and Collections
Item

• ••

Sales during month
Cash
Instalment
Charge account

• : 0V
• -5. i
: -1 ; .

,

Accounts receivable, end of mgnth'
Instalment accounts ' 1
:
Charge accounts
Collections during month .
Instalment accounts . , . •
Charge accounts

~
liay 194$; " June 1947 ~
! ' to
to.
i J i e 1948 June 1948
im

<•
.

.
/

+1 :
. 0 ;
' -

' +2
t
+1 -

+ 5
+43
+16 '
+66
+17
+44.
+12

•

Ratio of collections during month to accounts receivable at beginning of month
June
19AS
Instalment accounts
Charge accounts

ray
1943

24
52

24
52

June
1947
28..

54

Note.—Figures for June 1948 are preliminary and subject to revision.




H

n.17.3

• - -2--

- •

.

-

.

0

DEPARTMENT STORES - JUKE. 19k8 •
.
Cash and Credit Sales, t y Federal Reserve districts
r

Federal. .
- Reserve
. . District.

1
1

Boston
Rev.' York
Philadelphia ;
Cleveland •
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City. Dallas'
San Francisco
U, S. Total

-

exes;
- . T W

c ash sal 2S • June \ Kay
June -•
19k8p
.1918
19k 7
229
223
211
213
219
239
220
252
282
239
231

219
21k
218
! 21$
235
296
230
228
2#
#7
1 '298
- 226

197
211
199
206
209
256
231
19li
251
273
26$
228

229

223

218'

-191*1 average = :
LOO
sales
Charge--account sales
Instalment :
June
June
June
June
l:y
.a
Hay
19k8p ' 19%8
1918
19k8o
19k7
19k7

159
17?
182
178
181
167
200
•211
16k
108
251
219
• l6'k
172
220
209
. 182
192
209
239"
257 . 259
l66_
173
186

178

138
135
120.
12k

202
169
188
169
2-20
180
190
215
210
187
182
252
212
185
211
165
2kk ' 206
188
231
269
19k
209
105

210
195
213
215
,21k
207
219.
203
223
217
215
21k
212

13k
126
113
1U2
82
Ikk
121
135
I h o

213

182

Accounts receivable and Collections, by Federal Reserve.Districts

Federal
Reserve .
District

Boston
.l e ; York
i?.
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis .
Kansas. City
Dallas
.San Francisco
U. S. Total

iding,end of month
Accounts 0 uLstaj
1
lecti, rati:
on
coi:
DS~"
-l
Indexes ; 19ii average = 100
Instalment
Charge accounts
Charge ac'counts
Instalment
::ay I June June
June
June May June . June I .ay June
|l9k7 19k8o 19k8 19k7
19k8p 19kS 19k7 19k8o 19k? 19k7 19k3r
10k
117
151
153
107
186
109
152
lk5
18k
236
136

111 ••78'"
115 82
151 81
152 103
103 75
183 92
107 6k
Iko 78
lk5 88
133 79
227 91
130 77

136

13k

82

186
178
205
213
173
183
195
209
139 '
183. 1
199
191

189 171
17k 159
205 173
210 17k
172 ' 1 6 6
19k 151
191 167
215 172.
198 166
138 151
219 15k
187 i 153

193

193

165

23
2k
20
2k
21
18
3k
25
27
22
17
30
2k

21
•2k
21
2k
22
"19
3k
25'
27 '
23
19
29
2k

20
2k
2k
26
23
25
k2
32
33
#
35

k9
k9
53
50
37
37
62
53
57
56
-52
•62

kk
k8
53
50
37
39
62
53
57
56
53
61

28

52

52

k8
k7
5k

a

ko
62
5k
61 .
58
58.
63
5k

p - Preliminary.
.
x - Collections during month as percentage of accounts receivable at beginning
of month. - - •
1:0%J.--These data are based on reports of about k75 large department stores
reporting sales by type of transaction, more than ko6 having charge accounts and
about 300 having instalment accounts. Back figures"may be obtained on request from
the Division of. Research and Statistics.
.
•