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' BOARD Of GOVERNORS OF THE FEDERAL R2SSRV5 S - STEL: .
November 2, 1943
R&S dsc - 12
DEPARTiSNT STORE CREDIT
SEPTEMBER * 1943 ,

Instalment accounts outstanding at department stores rt the end of
September were unchanged at the August levfel, although some rise is usual"iri'this
month. The level continued at about throe-fifths of. the amount outstanding last
year, Collections on instalment accounts declined slightly in September, resulting
in a collection ratio of 33 per centJ as compared with 25 per cent in September
1942. Installment accour.ts continued tc bo outstanding, on the average, approxi-~
matdiy 5'months, about 2 months less; than in September 1942,
"
1
Charge accounts, outstanding increased by about the usual seasonal amount
in September, and at the end of the month continued 2 per cent below those on the
corresponding date last year. Collections during Septer.ber showed little change
from the preceding month, and remained slightly above September 1942. The average
period charge accounts wore outstanding tbisSeptember continued to be about 48 days,
as compared with approximately 50 days in the same month of 1942.:
The volume of cash and charge-account sales at department-stores showed..
about the usual seasonal rise from August to September. Cash sales, which .accounted for more than three-fifths of the total,for the third consecutive month,
were 19 per cent above the level of a year ago. Charge-account sales were in about
the same volume as in the corresponding period last-year. -Instalment s&les rose
9 per cent from August to September but continued substantially below the 1942
level.
7
'
~
Department Store Sales, Accounts Receivable and Collections

.

Percentage change from:
August 1943
' to
September 1943
Sales during month
Cash
Instalment
Charge account
Accounts receivable, end of month
Instalment accounts
Charge accounts
Collections during month
Instalment accounts
Charge accounts .
Ratio of collections during month to rece;.vables

Instalment accounts
Charge accounts.

'

: +19

+21.

+ 9
+28

..

^

-40
-

- 1 \
- 1
at beginn:

33
62-

-10

- 1

0
+17

September
1943




September 1942
to
September 1943

2

-25
; +2
of month

August
1943
32 .
..
.
62 . \

September •
1942
25
60

zo
-•2-

Department Store Cash and Credit Sales,
by Federal Reserve Districts

Federal Reserve
..District

Boston
Kev; :cr2
Fl.iladelph'ia,
Cleveland .
Fichrcnd.
Atlanta" • '
Chicago
St, Louis.Minneapolis
Kansas City
Dallas ' /
.Sur. Francisco

Charge-account sales
Instalment sales Cash sales
Percentage change from: Percentage change from: Percentage change ftar.;
Aug.1943 Sept.1942
Sopt.1942
Aug. 1943
Sept.1942
Aug. 1943
to
to
to
to
to
to
Sopt. 1S43 Sept.1943 Sept. 1943 Sept. 1943
Sent, IE43 Sopt.1943
+ 7
+10
+17
+17
. +19
+44
+13 '
+27
+25
+31
+55
+2f

+35 .
+-=0
+51
+io - ^
+30
- +13 .
+15
+16
+15
+15
+27
+ 7
+21

U. S. Total

~

,

+ 9
. +30
+14
-12 •
+15
+15
+ 9
+ o
-10
-13
+15
- 3
'

-20
+ 6
- 2
"
-K
- 5
+14
:
-31
0
- 1
r 17
' +40 . .
-22-

+ 9

+1~9

+45
+42
+45
+21
+39
.+12
+26
+32
'
+27 .
+26
+31
+ e

- 7
- 4
- a
. - 3
+10
+11
-10
+ 6
+ 5
+ 2
+23
- 2

+28

-10

- 1

Department Store Accounts Receivable and- Collections,
by Fedora 1. Reserve Districts
Accounts outstanding, end of
• rederal
"Reserve
i i strict
/

Boston
: "v ' -r"'
Philadelphia
Cleveland
n^lanta
Cnicagc
St." Iou:s
] : n . ap "lis
,i:.
KL r s s Civ
Dallas
San Francisco
U, S. Total

Collection ratios *

Ind ;xes: Dec. 31, 1939 ^ 100

Irstalir.e nt
Charge accounts
Instalment
Charge accounts
A"Ug.' Sepk. Sept. i-Ug. Sept . Sept. J>Ug. Sept. Sept. Aug.. Sept.
1943 1943 1942 19\-3 -1G-&3 1942 . 1943 19', 3 1942 15.5 19.3 1942
.30
51
49 r4 •
33 • .;
'2
42
42
.
41
41
45
-35
. ,0
.45

4-5

55
40

r44
•s !
i r47
: a 1 42

ro
70
' '£•?.

43 1 52
- 57 1 47
5 7' 1 v:>

71 J '

I vf
i ' : i r i 50
1 70
-"C | 1 1 •-!

.61
61
55
c4

24
.25
24

55
50
51

25

• 31
28
25
25
32 ' 30
34
32
29
27

• 51

71

' 53
55

27

30

19

53
•57
-50
67
59
52

41

"1
' 55
: i -o , 50
-3 roc
73
75
52
73
55 . 5:

35

40
35
42
r37
30
35

32
24
30
25
22
25

G5

33 .

40 j 40

52

52

55-

-,1
33
33

32

22

. 25

i

:

55
50

57
49
60
50
55
55 •
52 . '48
70
70
55
79
74
70 ' 53
61
'55 '
70
59
52
53

50
71
58

75
59

53
70
62

*

52

GO

* •- Collections during month as per cent of accounts at beginning of month.
Koto: Tnoso data are based cn reports of ab'out 475 large dcov.rtr.cr.t stores roDort
ing sales by typo of transaction, more than .,00 having charge accounts and
about'300 having instclmont accounts.- 'Back figures may be obtained on roquest frcr.
 the Division of Research and Statistics.