UK retailer Great Universal Stores posted strong third quarter sales figures which shows its Argos catalogue shops far exceeded expectations for Christmas sales.
Like-for-like sales at Argos, which operates a number of stores here, were up 14% in the 14 weeks to January 5. The figures were driven by sales of toys, furniture and consumer electronics. Most analysts had expected around half that rate of growth.
For the three month period to the end of December, Experian, the group's business information division, continued its recovery from a slump in sales following the events of September 11 in the US. Worldwide sales at Experian were up 5% while sales in the US rose by 2%.
GUS also said that its plans for the partial flotation of luxury goods brand Burberry remain on track after a weaker than expected 2% dip in underlying sales for the three months ending December 31.
