Abercrombie's share price has also been halved over the past year, though they're trading near $22. In addition to improving its merchandise mix, where it's toning down its emphasis on logo product, Abercrombie is doing away with its sexed-up marketing and revamping its stores.
But while trends at the company improved in the most recent quarter—thanks to its California-centric Hollister brand—its same-store sales still declined 8 percent. Comparisons will be easier for the retailer in the second half, which analysts said should help them get a read on where Abercrombie stands moving forward.
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"The next meaningful catalyst will be the setting of the back-to-school assortment," Guggenheim Securities analyst Howard Tubin told investors. "At that point, we'll be able to see how both brands have evolved … and how customers react to the change."
American Eagle and Urban Outfitters are considered front runners in the teen set—a trend Beder expects to continue into back-to-school.
Analysts have lauded American Eagle's updated women's tops and denim assortments, adding that because many of its popular styles can be easily transitioned into cold-weather outfits, trends there seem sustainable.
Urban Outfitters, whose namesake label had been criticized for having too many styles and redundancies in its merchandise, is also showing signs of life. Stifel Nicolaus analyst Richard Jaffe said that although there's still work ahead, including scaling back markdowns, "We believe the brand is on the mend and expect meaningful improvement in the second half."
Beder added that trends at Guess, whose North American unit has posted negative same-store sales results for the past 18 quarters, could pick up if its momentum in denim continues. Although the casual athleisure trend continues to dominate apparel sales, retailers including Guess and American Eagle have recently noted traction in blue jeans.