Full text of G.17 Department Store Credit : May 6, 1957

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17

May 6, 15y
DEPARTMENT STORE CREDIT - MARCH 1957

Instalment accounts outstanding at department stores
decreased 1 per cent in March, but continued 9 per cent above
the year-ago level. Collections during March amounted to 15
per cent of first-of-month balances, 1 point more than in
February, but 1 point less than a year ago.
Charge accounts rec elW^le- declined 7 per cent from
the preceding month-end, and also fell slightly below a year
ago. The collection ratio on charge accounts increased 4
points in March to 4 8 per cent, and was 1. point above a year
earlier.
Total sales of reporting department stores increased
19 per cent from February to March. The volume of cash and chargeaccount sales was one-fifth larger than a month ago, and instalment sales about one-tenth larger. Compared with a year ago,
total sales were down 10 per cent; part of the decline, however,
reflects the later date of Easter.
Changes in Department Store Sales and Accounts Receivable
Percentage change from;
Mar . 1956
Feb. 1 9 5 7
to
to
Mar. 1 9 5 7
Mar. 1 9 5 7

Item

+19
+20
+20
+11

Accounts receivable, end of month:

Charge
Instalment

-10
-11
-10 •
- 4

- 7
- 1

. Sales during month: Total
~
~
' Cash
Charge
Instalment

- 1
+ 9

Collection Ratios and Percentage Distribution of Sales *

1957

Feb.
1957

40
15

44
14

11

44
43
13

44
43
13

44
43
13.

Mar.

Collection ratios 1/:

Charge accounts
Instalment accounts

Percentage distribution of sales:' Cash
Charge
Instalment


l/Collections during
beginning of month.


Mar.
1956

month as a percentage of accounts receivable at

G.17
DEPARTMENT STORE CREDIT - MARCH 1957
Salsa by.type
(Percentage changes)

federalDistrict

' Boston
Uew York
Philadelphia
-Cleveland,
^^(ichcond '
Atlanta
Chicago
St. Iculs
- Minneapolis
Kansks City
Dallas
San Francisco
U . S. Tctal

Total sales
jFeb.^7i'Nar —
j to
j
to
|K9r.';.7i K a r . ' ; 7
- 6
- 8
+25
~11

Cash sales
Mar.'pb
to
to .
M a r . _ [ 5 7 Msr-'57

Charge-account
-sales
" f v d " 3 T par..
to .
%ar-'57 iMar.' 57

-10/

+26

- 9
-15
-15
-15
-11
-15

+15

- 9
-Is
-11
-13
-10
-13
- 4
-il
-10
-il

+24
+17

-13
- 7
-12

+19

-10

+20

-11

+20
+23

+14

+ 6
+16
+19

+11
+24

+21
+23
+15
+19

|

+16

- 2

-10
- 6
- 8
-15

+24

+14

+20

Instalment
sales
Mar.'56
to
to
|Mar.'57 Mar.'57

+26
+27 .
+15

+26

+16
+14
+ 1

+20
+21

- 9

-14

-+19
+23
+15
+ 5

+24

•-11

+ 8

+18
+16
+18

-11
- 3
-11
-13
-12

+20

-10

+11-

-14
+ 3
+20.
+ 3

Accounts receivable, end rf month
(Percentage changes)

Federal
Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
U . S. Total




e accounts
Mar.'5b
to
to
Mar.'57
Mar.'57

1mr
- 9
' - 9
- 5

Instalment
Mar.'5^
j Feb.'57
to
to
Mar.'57
Mar.'57
-4
-1
-2

+ 4
- 1
- 6
0

+6

- 7

-3
-6
-4

- 7
-12

- 2
-12
0
- 4
- 4

-

- 1

- 5
-11
-12
- 8

7

+ 7

-2
-2

' -3
-2
-4

- 2
+20
0
+ 9
+13
+ 3

+12
+ 9
• +14
-14
- 3

+22
+ 9

•

- 4
+ 1
"-10

- 5
- 5

- 7
- 3
-14
0
- 2
- 5
- 5
- 4