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/ F E D E R A L R E S E R V E B O A R D February S, 193** R&S rtp - 110 For release in morning papers Monday, February 12 , DEPARTMENT STORE SALES IN JANUARY I93U \ A Preliminary report ,> x Preliminary figures on the value of department store sales show a decrease Lticcoder to January of about the estimated seasonal amount. The Federal Reserve Board's index, which makes allowance both for number of business days and for usual seasonal changes, was bS in January on the basis of the I923-I925 average as 100, compared with 69 in December and 65 in November, In comparison with a year ago, the value of sziles for January according to preliminary figures was 18 per cent larger; when allowance is made for the fact that there was one more trading day this year than last, the increase from last year is about l4 per cent. Increases compared with last year were reported for all districts; the largest increases were reported in the Dallas, Cleveland, and Atlanta districts. PERCENTAGE INCREASE OR DECREASE FROM A YEAR AGO January* ivmiiber of reporting stores Number of cities Total +18 447 224 Federal Reserve district: Boston New York Philadelphia Cleveland +23 +13 +12 +33 51 51 25 21 27 2o 12 13 Richmond Atlanta Chicago St. Louis +l4 +28 +21 +25 45 29 53 35 19 IS 28 20 Minneapolis Kansas City Dallas San Francisco +13 +24 +36 +16 25 17 is 72 13 13 8 27 * January figures preliminary; in most cities the month had one more business day this year than last year.
