NEW YORK (CNN/Money) - Check out the hot summer look for teens this year: scandalously short miniskirts, tiny shorts, sheer shirts and tank-tops.

Do any of these items signal a return to "modesty?" Not quite.

Industry watchers say the season's biggest fashion trends don't lend much credence to recent reports suggesting teenage consumers are spurning racy fashions.

"I think the idea that teenagers are becoming conservative, even rejecting low-rise jeans, is really a media-created story because nothing in our research shows that is happening," said Jeffrey Klinefelter, retail analyst with Piper Jaffray.

Some of the most popular teen apparel chains such as Abercrombie & Fitch (ANF: Research, Estimates), which is no stranger to controversy, as well as American Eagle Outfitters (AEOS: Research, Estimates) and Aeropostale (ARO: Research, Estimates), aren't shying away from ruffled miniskirts with names like "Bridget flirty mini" and the "Naomi striped knit mini," especially if it pumps their sales.

In fact, Aeropostale's sales at stores open at least a year soared 27 percent in May, while American Eagle Outfitters also posted a "comparable-store" sales gain of 11.4 last month. And Abercrombie's sales, which were stuck in a rut for most of last year, finally managed to post marginal increases this year, including a 1 percent gain in comparable sales in May.

In addition to miniskirts, low-slung jeans and crop-pants are still in stores in full force, according to one retailer -- Anaheim, Calif.-based Pacific Sunwear (PSUN: Research, Estimates). CEO Greg Weaver recently told an industry gathering in New York that he hadn't seen a shift away from low-slung jeans to pants that cover the navel.

For teens, summer is about skirts, tank-tops and showing skin, said Marshal Cohen, retail analyst with NPD Group. "Kids want to wear the kind of clothes that show their body piercings and tattoos," he said.

Abercrombie & Fitch's "Naomi striped knit mini."

Cohen's point was supported by students from Pompton Lakes High School in New Jersey who participated in a Piper Jaffray panel discussion on teen fashion trends this month.

According to the teens, some of whom attended the event wearing midriff-baring tops, "must-have" items this summer include cheap flip-flops, colorful tank-tops, short skirts, sneakers, sports shirts and navel-baring jeans.

Tom Julian, a fashion trend analyst with Minneapolis-based marketing firm Fallon, said he's still seeing plenty of provocative apparel for teens.

"The drop-waist in sports trousers and skirts is still relevant," said Julian. "I'm not aware of any one manufacturer who had said they are going to make more modest clothes."

But if there is a trend that might validate the "modest" theory, it's the comeback of the preppy look.

The summer look from American Eagle Outfitters.

Said NPD's Cohen, "If you think about where teens are getting their fashion direction, it's from the entertainment industry. Some of the shows on TV, like Fox's "The O.C.," have brought back jackets, button-down shirts, and fitted polo shirts."

While many teens apparently want to be stylish dressers, they are also becoming more value-conscious consumers, according to the NPD Group.

In its latest report, "Buying Habits of Teens and Tweens," three of four teens surveyed said they shop at retailers that have the lowest prices, while 73 percent say they look for sales. On average, the teens said they spend $50 a week on clothes, music and entertainment.

The study surveyed about 400 male and female teens aged 13 to 17.

"Teens are still shopping at both specialty stores and department stores for status items," said Cohen."They are, for example, wearing full price shoes from Nordstrom with jeans from Target."

American Eagle Outfitters declined to comment on the story. Officials at Abercrombie & Fitch and Pacific Sunwear did not return calls for comment.