Sector Snap: Apparel retailers results improve

Apparel retailers, who have been steadily slashing inventory, cutting costs and tinkering with merchandise selections amid the consumer spending slowdown, showed improved quarterly results on Thursday, as several beat analyst expectations.

Still, all cautioned the environment is still difficult and many still experienced steep sales declines and gave weak guidance.

Zumiez Inc., a sports apparel and equipment retailer, posted a loss of 6 cents per share, smaller than the 8 cents per share analysts predicted. But the company said sales in stores open at least one year _ or so-called same-store sales, a key retailer metric _ fell 15.3 percent and predicted a loss for the second quarter.

Shares fell $1.69, or 15.2 percent, to $9.41 during afternoon trading. The stock has traded between $4.50 to $28.84 during the past year.

Teen apparel retailer Aeropostale Inc. remained one of the best performers in the apparel space. First-quarter profit jumped 81 percent while sales rose 21 percent as teens snapped up its low price jeans and tees.

Shares advanced $1.43, or 4.4 percent to $33.98 during midday trading. The stock has traded between $12.52 and $37.96 over the past year.

Sterne, Agee & Leach analyst Margaret Whitfield upgraded the company to "Buy" from "Neutral"

"Aeropostale continues to deliver strong (same-store sales), and its gross and operating margins are significantly improved from last year," she wrote.

Elsewhere in the sector, Gap Inc. and Dress Barn Inc. both said profit fell, but results beat analyst predictions.

Gap shares rose 41 cents, or 2.6 percent, to $16.39 and Dress Barn shares rose 27 cents to $15.12.