New-York tribune., 1922-09-29
August Retail Sales Beat
Last Year and Also july;
Eight of Ten Wholesale
Lines Show Increases

Evidence Of expanding business is
found in reports Of increased sales by
retailers and wholesalers made to the
Federal Reserve Bank of New York.
August, according to figures the bank
is publishing in its October review. saw
the largest year to year increase in
department store sales in this district
of any month since 1920. Sales last
month in sixtyfour department stores
in the Second Federal Reserve District
increased 5.3 per cent over August,
1924, and were larger than July sales,
although in the last three years pre-
vious August sales have dropped below
those of July.
s'This gain" says the review, "has
been due mainly to larger sales of
house furnishing goods and ready to
wear clothing. Almost without excep-
tion merchants report that furniture
sales during August were we'll above
those Of last year, reflection of the
completion of large numbers of new
homes in all parts of the district. A
majority of merchants reported better
sales nj ready TO wear clothing and
stores that sell apparel and accessories
exclusively showed gain IN sales OF
s per cent.
CAS- average prices of commodities
sold by department stores are now
about the same as year ago, the in
crease in the dollar amount of sales
probably reflects accurately the in
crease in the amount of goods sold.
For the first month since late in 1920
the average amount of individual trans
actions shows an advance from $2.43 in
August last year to S2.45 this year"
During the first three months of 1922
sales were behind those of last year
ana during the next three months
they were slightly larger. The first
August. The review continues:
Stocks About the Same
Stocks of department stores are
practically the same as a year ago,
both in physical volume and dollar
value. There was an increase Of per
cent between August l and September
i, normal change at this season Of
the year, because of the receipt of fall
and winter merchandise, However, as
sales are larger than last year, the
turnover of stock is somewhat more
rapid
Sales by mail order houses increased
per cent during the month, but con-
reached in 1919 and 1920.
"Mcrchants still hesitate to order
for future needs any further ahead
than necessary. In those markets
where prompt deliveries are assured
the tendency remains to buy for i'm
mediate Shipment; but in others, where
delay in shipments has been frequent,
advance orders are being placed more
freely. Outstanding orders on Sep
tember | amounted to 7.3 per cent of
the total purchased last year, compared
with a corresponding figure of S.3 per
cent on September 1, 1921. Apparel
stores, whose outstanding orders
amounted to i1.5 per cent of last years
purchases, have been the largest buy
ers in faR and winter merchandise"
Wholesale trade during August, al
though retarded somewhat by the coal
and railroad strikes, showed a distinct
increase in number of lines. Com
pared with figures for August last year
sales were larger in eight of the ten
groups of commodities. Grocery sales
showed loss of 7 per cent, and al
though groceries are the most heavily
weighted commodity in the banks in
dex this loss was not sufficient to
prevent an increase of "a per cent in
the total weighted average of sales.
Shoe sales were Is per cent lower than
last August, mainly on account of
labor troubles in Rochester.
Heavy Diamond Sales
The largest increases in sales were
reported by dealers in machine tools
and diamonds. Sales in these lines
were exceptionally small last wear and
the gain this year has not been suffi-
cient to bring them up to what is con-
sidered normal volume. A marked
increase was shown in sales of hard
ware, and when allowances are made
for price changes it is evident that
! those sales were fully as large as
during August, 1919 or 1920. Sales of
jcweiry, drugs and stationery showed
moderate gains and sales of dry goods