Full text of G.17 Department Store Credit : August 6, 1953
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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G..17 August 6, 1953 : DEPARTMENT STCRE CREDIT - JUNE 1953 Instalment accounts outstanding at department stores at the end of June were practically unchanged from the level of the preceding month, but ware 23 per cent above a year ago. Collections on instalment accounts during June amounted to 15 per cent of. first-of-month balances outstandings the same as in May but 3 points below the collection ratio of June last year* Charge accounts outstanding declined 1 per cent; during June, a month in which some decrease is usual, but balances at the monthend were 3 per cent above the•corresponding date last year, The June collection ratio of U7 per cent was 1.point above both a month ago and a year ago. Sales of all types decreased from May to June — cash sales by 2 per cent, charge-account sales by 5 per cent, and instalment sales by Ij. per cento Compared with a year ago, each type of sale was up 5 per cents Consequently, the relative importance of cash; change,, and instalment sales was practically unchanged from both a month ago and a year agoc , ~ Changes in Department Store Sales and Accounts Receivable Percentage change from: June 1952 May 1953 to ". to June 1953 June 1953 Item Sales during month: Total. Cash Charge Instalment . - u - 2 - 5 . - Accounts receivable, end of month: ,Charge • instalment . . h - 1 0 : • + + + + 5 5 5 5 L + 3 +23 Collection Ratios and Percentage Distribution of Sales May 1953 h? h6 15 15 >7. U7 U3 Charge accounts Instalment accounts Percentage distribution of sales: Digitized1/ forCollections FRASER during month of month. Cash Charge Instalment . h3 / 10. 10 11 Collection ratios 1/: "* Is Item lt6 18 'P h3 .10- as a percentage of accounts receivable at beginning - ,G.17 . - 2 DEPART: ZI:T 5TCR3 CREDIT Sales by type (Percentage changes) '• ^ Federal District Scston Fe-T York ' Philadelphia Cleveland. Riclimond 'Atlanta Chicago 5t, Louis Minneapolis Plans as City • Dallas ban Francisco 1953 Instalment Charge-account sales sales May 'S3 June«.b2 June'52 "ay 'S3 June'^2 ::sy '53 Juno'52^^ay '53 to to to to to . to to •to 1 1 June '53 June 53 Jmie'53 June'53 June 53 June'53 June'53 June'53 1 Total sales Casn sales + 1 -19 - 6 + 2 -11 -19 - 1 - 5 + 9 + 1™ -12 o • + 2 + 5 + 5 -r 8 - 2 - 2 + 9 + 7 + 7 - 1 + 2 + 7 U. S. Total - h + 5 - .2' + 5 M-mber of stores 568 568 568 568 + + + + - 2 6 h 8 3 0 + 7 + 9 +11 - 5 . + 3 + 8 - 5 -10 - 9 + 2 - 9 W 1 - h + 6 -27 + 7 + 3 + 5 - 7 + 8 + h + 6 - 5 - 6 + 8 - 2 + 1 .+ 9 - 7 -11 • + 5 - h '+ 5 193 1:93 - 1 + 3 + 5' + 3 • -2h -18 + 6 - 8 - 3 + 8 + 1 + 3 . C. •- 8 •15 -26 -18 - 1 , +].o .-.1 - 1 + 7 -11 - 1 -i: + h - 3 + 2 - 1 - 3 + h -17 - 9 + 6 + 1 3 — 5 532 ' 532 Accounts Receivable and Collection Ratios Federal • Reserve - " 'District Boston 1-ew York Philadelphia Cleveland Ricijr.ond . Atlanta Chicago St. Louis Minneapolis Kansas City Dallas ' San Francisco - nts receivable, end of rconM Collection (Percentage changes) j • Charge accounts Instalment {Jharpe •£;ccounts & y - ' 5 T JuHe'52 May '53 June'52 June May June to • to to to 1953 1953 1952 June'53 Junei53 June'53 June '.53 || - 1 j + 2 1 j -0 0 - + + - h 8 1 1 3 i 6 1 U r S . Total Muntcr of stores ' + 2• T 6 +10 + 3 + 2 + 1 + 3 + 5. + 9 + 3. + 2 + 3 + 3 h77 Digitized1/' forCollections FRASER during month month. 177 + + + - 2 1 2 1 2 5 0 1 b 0 3 1 6' 391 +16 +ih - +22 +lh +20 +23 +21 +23 +15 +32 +13 +38 +23 #1 • h3 U5 Ui h9 lil 35 55 h? 51 h8 ' h6 5o hi h77 ratios 1/ ' Instalmeiit June 1953 h6 15 h5 15 U2 h5 15 Ul.: h3 16 hh h? 38 13 hi 39" ' 35 lh 52 • 18 53 13 h8 h7 17 53' 53 hS 15 h8 11 h7 "h5 16 h8 h7 U6 May June 1953 1952 lh 15 lh 15 13 lh ! ' 18 1 18 I 171| ! 15 i 12 i 16 ! 15 17 16 16 lh 15 22 20 20 18 15 18 15 15 18 , h90 h86. 391 396 399 h6 as a percentage of accounts receivable at"beginning of