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1928 -• 7
E&S ET1 - 39
F E D E R A L
R E S E R V E
B O A R D
STATEMENT FOR THE PRESS
For release in morning papers,
Saturday, March 10, 1928.
Retail Trade in the United States in February, 1928.
Total sales of 491 department stores which report to the Federal reserve
system were 2.2 per cent larger in February of this year than in February of
1927. This increase, however, was due largely to the fact that February of
this year contained one more business day than February a year ago. In eight
Federal reserve districts sales were larger than a year ago,, the largest increases occurring in the Chicago and San Francisco districts, and in four
districts - Philadelphia, Cleveland. Atlanta and Minneapolis - sales were
smaller. Of the total number of stores reporting, 263 showed larger sales than
a year ago and 228 reported decresses.
Sales of two mail order houses were 9 per cent larger than in February
a year ago and those of eight five-and-ten-cent chain stores were 11 per cent
larger.
Percentage changes in dollar sales between February. 1927, and February,
1928s and the number of stores reporting arc given in the following table:
Federal
Reserve
District
{Percentage of increase or dc-:_
Number of stores
:crease in sales -Feb., 1928:" Total
:
number reporting
:compared with Fob.. 1927
: reporting: Increase
Decrease
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Total
+ 0.6
3.6
5.4
0.9
4.6
1.2
6.3
1.7
5.2
2.4
3.5
6.4
79
48
78
37
46
27
47
18
13
16
16
64
52
30
39
12
28
7
15
11
7
11
10
41
27
18
39
25
18
20
32
7
6
5
8
23
+ 2.2
491
263
228
+
+
+
+
+
+
+
Mail order houses
+ 9.2 (2 houses
Five-and-ten-cent stores+11.0 (8 chains
@FedFRASER