Full text of G.17 Department Store Credit : January 7, 1949
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BOARD OF G O V E R N S OF THE FEDERAL RESERVE SYSTEM G.17.3 r.:~ January 7, 19-49 DEPARTMENT STORE CREDIT . NOVEMBER 1948 • Instalment accounts outstanding at department stores increased somewhat less than is customary in November,, bu^. were" 44 per cent above the high level of a year earlier. Collections on instalment accounts showed a small gain during the month, and the collection ratio : was '24.per cent for the third successive month. At this collection-rate instalment accounts : are repaid in about seven months. . ' : • ' : Charge,accounts receivable also showed a smaller rise than is expected " in November, but W6re 8 per cent larger than a year ago. Collections on charge accounts rose substantially^ and the ratio of collections to accounts receivable on the first of the .month increased further to- 55 per cent. In November ' charge accounts were outstanding,' on the average, approximately 55 days. Both cash and credit sales showed less than the usual seasonal gain from October to November. Cash sales, which again accounted for 51 per cent of total sales, were 4 per cent below the year-ago level. For the first time in over three years instalment sales dropped below the volume of a year earlier. Charge-account sales, however, were 4 "per. cent larger than in November 1947. Department Store Sales, Accounts Receivable and Collections. • Item Sales during month Cash Instalment Charg'3 account - »' % : . : | Percentage O c C 1948"" . I ::to: : I Nov. "1948 ' s . : ; ; ,. " ; : Collecuicns during month Instalment accounts Charge accounts ' . j | ' j ' • ; ' i. • • i i ' } / ; , +.7 + 8 + 5 * - 4 : -2 / + 4 . + 3 ; + 6 ; ' Accounts receivable, end of month . Injtair-ient accounts ' Churge accounts ' . from: Nov, 1947 to Nov. 1948 +44 + 8 i + 4 I • +10 ! ' ' +34 +13 Ratio of collections' during month to accounts receivable ;at beginning of -month ! INOV. : Oct. • Nov. - ' 1948 ' . 1948 ' 1947 Instalment accounts Charge accounts 24 55 24 54 Note,—Figures for November 1948 are preliminary and subject to" revision. 30 55- !Ljf 7 DSrART:.ZNT-'STO%,S - HDVaLiBER 1918 Cash and Credit Sales, by Federal Reserve Districts Federal Ees er ve District Bo.s ton Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis . ?:ansas City Dallas San. Francisco U. S. Total Nov. 1 9 % 266 2ii7 273 271 266 330 278 292 307 351 310 : 269 272 Indexes; 19kl average - 100 Charge-account sales Instalment sales Cash sales Oct. Nov. Nov. Oct. Nov. Nov. Nov. Oct. 19k8p 19k819k7 19k8 19k7 .1918 19k7 • 19k8p 207 258 265 238 227 285 263 225 276 205 2k8. 316 199 293: 2k0 300 208 308 276 366 375 ^ 259 292 179 ^-231' 2kl 261 25k 216 323 257 262 306 331 312 2k3 . 281 255 203 219 222 262 238 225 268 25k 256 302 2kl 2k8 301 267 310 228 232 222 282 2k5 2k2 283 256 267 262 253 . -31k . 256 250 212 216 20k 221 217 229 298 22k -237. 211 265 230 250. 203 ' 173 . 258 ' 285 : 22k' 200 '.. 268' . . 181 266 218 ' 2k7 232 . 291 239 26k 232 27V. 258 328 313 ,165 258 191.. 252 I Accounts Receivable and Collections, by Federal Reserve Districts Federal Reserve District Boston ' New York Philadelphia Cleveland Richz.iond-^ Atlanta.Chicago S1"'. Louis • Minneapolis ' Kansas City . Dallas San Francisco U. S. Total Accounts outstanding,end of month' Collection ratios* Indexes; 19kl rverage = 100 Charge accounts Instal ment Charge accounts In stalment Nov; Oct. Nov. Nov. . Oct.. -Nov. Nov. - Oct. Nov. Nov. Oct. Nov. I9k8p 19k8 19k7 19k8p 19k 8 19k7 19k8p 19k8 19k7 19k8p 19k8 19k7 121 133 172 193 131 222 120 177 161 207 269 160 113 103 .130 10k l6k Ilk 189 138 123 . 95 229 12k 88 115 173 100 158 1-27 20k 135 269 138 156 108 160 155 111 20k 195 188 197 257 231 230- 218 200 19k 218 22k 207 22k 237 255 210 220 200 213 231 - 218 209 193 219 200 188 230 205 196 192 213 23k 207 191 21k 196 206 - 20k 21 23 ' 22 22 21 17 kl 23 27 25 19 28 2k 21 25 21 21 21 17 ko 23 26 22 17 28 2k 22 50 27 , k8 28 5k 25. 5 5 ko . 25 26 kk 37 55 62 . 3k 58 3k 29 59 36 65 I 30 55 k8 k9 53 53 37 39 63 55 6k 60 66 5k k7 k7 56 55 k7 k2 6k 55 58 59 59 65 55 p- - preliminary. - - Collections during month as percentage; of accounts receivable at beginning x of month. • i.GIrj.—These data are based on reports of about 1x75 large department stores reporting s-ales by type of transaction, .more' t-han. I4OO having' charge accounts and aoout jOO having installment accounts. Back figures may be obtained on request from the Division of Research and Statistics. -
