Coldwater Creek Floating Women's Retail

Coldwater Creek (CWTR) is giving hope to the moribund women's apparel space.

The specialty retailer reaffirmed its second-quarter outlook of a loss between 5 cents and 7 cents a share, but said it is starting to see some improvement in business trends as shoppers are responding to its summer collection.

Coldwater Creek expects net sales between $215 million and $220 million, down from the $241.4 million it reported a year ago.

The news sent shares of the company up 9% to $6.15 in morning trading and other women's apparel retailers followed suit. Shares of AnnTaylor Stores ( ANN) climbed 13% to $9.71, Chico's FAS ( CHS) jumped 4% to $10.56 and New York & Company ( NWY) grew 11% to $3.51.

Talbots ( TLB) was also up 7% to $4.37 after analyst Jennifer Black, from the firm bearing her name, said the retailer's new catalog showed much improvement. She said Talbots is currently one of her top stock picks.

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