Swedish high street fashion chain H&M has reported its best April sales figures since 2011; up 17 percent year on year. Saxo Bank's Head of Equity Peter Garnry says the figures add weight to predictions that H&M's current fiscal quarter will be the the best ever.

H&M has increased its number of stores from 2,881 to 3,246. It's Asian penetration strategy is also paying off, as are online sales.   

Peter also explains why he actually prefers Inditex which owns the Zara brand, his quant model predicts a 17 percent twelve month return.