) -- Retailers are rising as wholesale inventories and sales both grew in April.

Wholesale inventories increased by a seasonally adjusted 0.4% at $397.8 billion in April, while sales inched up 0.7%. As a result, the S&P Retail Index is climbing 1.7% to 429.23 in afternoon trading.

Among the stocks that are seeing some of the biggest increases are those that made presentations at Piper Jaffray's Consumer Conference in New York this week.

AnnTaylor Stores




( JCG),

True Religion





all said they are cautious on the consumer, but remain confident in their businesses going into the second half of the year.


Abercrombie & Fitch

(ANF) - Get Report

, a brand high school students, during a

teen panel at the conference

, deemed "un-cool," is still trending higher Wednesday afternoon, up 4.1% to $35.22.

Lululemon Athletica

TheStreet Recommends

(LULU) - Get Report

is advancing 3.7% to $40.50 ahead of it first-quarter earnings report due out after Thursday morning. The yoga-inspired retailer is expected to earn 21 cents a share on revenue of $128.2 million.

Rite Aid

(RAD) - Get Report

is also on an upswing as its rivals,

CVS Caremark

(CVS) - Get Report





wage war over pharmacy benefits management business


CVS said on Wednesday that it is kicking Walgreen out of its pharmacy benefits management business at the end of the month. This comes after Walgreen said earlier in the week that that it will no longer handle prescriptions managed by Caremark because of disagreements over CVS's business practices and drug pricing.

Shares of CVS are down 1.4% to $30.73, while Walgreen is off 1.3% to $30.21, but Rite Aid is surging 6.5% to $1.14 in midday trading.

Another notable gainer is


(NFLX) - Get Report

, which is spiking 5.6% to $116.60, flirting with an all-time intraday high of $119.50.

-- Reported by Jeanine Poggi in New York.

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