THE festive boom on the high street has been reflected by sizzling sales figures from Sainsbury's and clothing retailers Gus and Ted Baker.

The blistering pace set last week by a host of companies was matched by all three in further proof of the spending spree across the UK last month.

Sainsbury's continued its recent recovery with record trading over the Christmas period as shoppers flocked to its stores for food, drink and CDs.

It enjoyed like-for-like sales growth, which excludes new sales space, of 6.8 per cent in the six weeks to January 5 after petrol was stripped out.

Gus catalogue chain Argos saw its sales rocket 14 per cent in the 14 weeks to January 5 as customers snapped up toys, furniture, televisions and DVDs. And designer clothing group Ted Baker benefited from trendy shoppers splashing out on men's and women's casual collections.

Underlying sales across its stores and concessions in stores such as House of Fraser and Selfridges were up 24.7 per cent between November 1 and December 24.

The positive figures follow a flurry of bullish statements last week from Next, Arcadia, HMV and regional supermarket group Morrisons.

Tesco, Safeway, Marks & Spencer and Debenhams are also expected to report their own buoyant Christmas and New Year period over the next two days.

Alex Scott, analyst at 7 Investment Management, said: "It's clear from the numbers we are seeing that retailers have never had it so good.

"Consumers are spending a lot of cheap cash, whether its by releasing equity from their homes or taking advantage of cheap debt.

"The 14 per cent growth at Argos is phenomenal."

Like-for-like growth at Argos was better-than-expected by many in the City and was put down to improved product ranges and low prices luring in shoppers.

The performance also helped to offset sluggish sales at Gus's luxury brand Burberry, hit by the impact of the September 11 atrocities on the economy.

Underlying sales at Burberry, which includes retail outlets and wholesale activities, slipped two per cent in the three months to December 31.