Full text of G.17 Department Store Credit : July 10, 1951
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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM- G.17.3 July 10, 1951 DEPARTMENT STORE CREDIT - MAY 1951 Instalment accounts receivable .at department .stores .decreased k per cent during May, a month in which increases have -been/usual, . Despite the continuing monthly decline, instalment accounts receivable were '8 per. pent above the level of May 31, 1950. However, year-to-year gains'- in other postwar;years were generally much larger. Collections on instalment acco.unts.'dropped.3 per cent below April, but, when related to first-of-month .receivables," they yielded a collection ratio of 18, equal to the ratio of both "the preceding month and thai; of May 1950* (This rate of repayment would .liquidate instalment accounts outstanding in about 1:0 months. Charge accounts receivable showed a seasonal gain of 2 per cent during May, and at the month-end were 15 per cent above the level of a year % o . Chargeaccount collections were the same as in April, but, when related to first-of-month receivables, resulted in a collection ratio of h9} 2 points above, that for April, This increase shortened the average repayment period to about- (51 days, but this was still about 2 days longer than the average repayment period of the preceding ' , . ' . . . . ' , A1 though instalment sales' showed a gain, of 3 per cent in May, this was small compared with the 11 per cent gain in charges-account sales and the. 9 per cent increase in cash sale's. Instalment sales were 10 per cent below those of May 1950, while charge and cash sales showed gains of 6 per cent and 2' per cent, respectively. Department Store Sales, Accounts Receivable, and Collections Percentage change from: May 1950 Apr. 1951 to to May 1951 May 1951 Item Sales during month Cash Instalment. Charge accounts Accounts receivable, end of month Instalment accounts Charge accounts + 2 -10 + 6 + 4 + 3 +11 ' . ' Collections during month Instalment Charge accounts - h' + 2 . ' - 3 0 • . +8 +15 +20 +10 Latio of collections during month to accounts receivable at beginning of month: May May • Apr, 1951 1951 1950 Instalment accounts Charge accounts 18 • U9 18 hi i!OTr.: —Figures for May 1951 are preliminary and subject to revision. 18 52 * DZPARTI.ZNT STOICS - iilY 1951 Gash and Credit Sales, by Federal Reserve Districts . Federal . Reserve District . Indexes: 191*1 average = 1QO Instalment sales Cash sales • Hay Apr. Hay ' Apr.. " Hay i ::ay 1950 1950 1951 1951P 1951 1951P Boston 191 . IJevr York 193 Philadelphia 203 Cleveland 203 Richmond I 229 Atlanta . ' •1i 2?L .Chicago , 213 'St..Louis 2C8 IMinneapolis 236 .Kansas City ,270 Dallas 280 Sa-n Francisco 5oo U . S . Total 180 177 18k 189 199 2k5 19k , 182 307 2k7 252 nk 209 192 200 179 20k , 1# ' 213 267 .215 . 20k 2k9 259 269 199. 205 173 217 175 • 227 192 276 IS5 202 295232 299 18k 193 201 162 2k6 lk5 257 183 220 20k 250 315 167 205 199 . Charge-account sales Kay Apr. Hay 1950 1951P 1951 219 198 182 223 " 197 2k2 251 235 . 205 229 3k6 ' 266 201 ;237 26? 225 23k 2.73 25k 257 296 k9i 183 223 227 229 18k 175 212 217 201 227 210 199 239 228 269 200 " 206 201 176 228 223 21k 256 212 • . 218 273 ' 237 279 211 216 Accounts Receivable and Collections, by Federal Reserve Districts Federal . Reserve District Accounts outstanding, end of men th -Collection ratios^ Indexes: -19kl average = 100 Charge-account instalment - 1Charge-account • Instalment Apr, *" Hay Apr. Hay '"Hay "Apr. 'Hay Hay Hay Apr. Hay Hay 195lp 1951 1950 1951P 1951 1950 195lp 1951 1950 195lp 1951 .1950 Boston .. ; 2C6 He- York . . 190 Philadelphia . 215 Cleveland 275 Richmond 17k .Atlanta 36k Chicago 190 260 St.--Louis 210 Minneapolis Kansas City 32k Dallas kk7 San Francisco 250 S.' Total 235 218 212 196 175 223 210 286 :238 180 165 379 369 201 175 271 257 222 191 338 2k6 k69 kk3 253 217 213 132 262 229 230232 227 255 220 238 238 216 208 182 1.7 16 180 159 257 222 • 17 17 22k 202 17 228 133 16 230 232 21 216 193 18 251 229 20 212 199 19 231 210 16 23k "205 222 191 . 21 2kk 223 220 217 19k 18 17 • 16 17 18 16 15 21 18 21 19 15 15 • 18- k6 17 - k8 • 17 k9 ' 17 -. ko lk k2 20 • 57 - 18 • k9 19 52 50 19 15 13 50 18' 52 19 18 " 18 k9 UU j k7 k2 -kk" 5.2 k6 k8 kk 39 k7 39 61 53 • 5k k9 56 51 50 5k 53 k7 53 k8 $ k7 52 p—Preliminary. *—Collections during month as percentage of accounts receivable at beginning of •ITGTEjv-Tnese data are based on reports of "about k75 large department stores reporting sales by type of transaction, more, than kOO having charge accounts and about.300 having instalment accounts. Back figures may be obtained on request from.the Division of Research and Statistics.