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The retailer recorded sales growth of 15.9% for the third quarter over the comparable period in the prior year, while group comparable sales grew by 12.5%.

The Durban-based company's a la mode - low cost, rapid turnover model has proven to be a winning strategy, amid both torrid and favourable economic climates.

Following on the trend of high-street stores abroad, such as Zara, Topshop and H&M, largely cash-based Mr Price keeps abreast with current trends and delivers them to market at precisely the right time and at an accessible price point.

"Meaningful sales growth was achieved in all three months," the company said.

An equities trader told BusinessLIVE on Thursday that Mr Price was trading at an all-time high at the moment.

"Retailers in general have been performing quite nicely, but the market obviously liked their figures today," the trader commented.

Cash sales constituted 80.1% of total sales, Mr Price said, adding that retail selling price inflation for the period was 4.9%.

The group opened 17 stores and closed three since the end of September last year.

Its apparel division, consisting of Mr Price, Mr Price Sport and Miladys, which represents 73.9% of sales, achieved sales growth for the quarter of 16.9% with comparable sales growth of 13.0.

The group's home division which includes Mr Price Home and Sheet Street saw sales growth of 13.0% and comparable sales growth of 11.4%.

While retailers are due to release festive trading updates over the next two weeks, early indications are encouraging.

On Wednesday Massmart Holdings, owner of Makro, Game and Builders Warehouse said total sales for the 26 weeks to December 2011 increased to R31.6 billion, representing growth of 15.2% over the prior period.

Meanwhile, according to the Spark Cash Index (SCI), the latest cash withdrawal statistics showed the highest ever December average ATM withdrawal values recorded across the country, "indicating strong consumer spending and trading conditions for retailers and other businesses during the festive season".

The SCI, which measures the average value of cash withdrawals across more than 1,500 Spark ATM's throughout the country, reflected a 2.45% year-on-year increase in December 2011 beating the previous highest value of R447 recorded in December 2010 with a value of R458.