Burberry's sales fell 2%

The sales growth seen at Argos was almost double what most analysts had been expecting.

But weaknesses in other parts of the GUS group did not go unnoticed.

"GUS' Q3 trading statement was a mixed bag," said a note from Credit Suisse First Boston.

"Argos surprised on the upside, but Burberry disappointed and the commentary on Experian was far from encouraging."

Burberry checked

The Burberry brand put in a weak performance, with underlying sales falling 2% over the three months to 31 December.

Demand for the brand has wavered since 11 September, as people have turned away from luxury goods.

GUS is planning to partially float the Burberry business later this year.

The Experian credit-checking business also saw a drop-off in US trade in the immediate aftermath of September's terror attacks.

The latest figures showed growth in Experian's North America was slower than elsewhere.

While worldwide sales grew 5% on an underlying basis, in North America they grew by only 2%.