Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of outdoor apparel designer Columbia Sportswear (Nasdaq: COLM) looked hearty today, jumping as much as 11.1% in early action but fading to a 4% gain by closing time.

So what: Columbia's third-quarter results, reported this morning, blew analyst targets out of the water. Alongside another good-looking report from Under Armour (NYSE: UA), it suddenly looks like the Grinch might not steal this Christmas after all.

Now what: Before declaring the mall safe for children and investors again, keep in mind that we're talking about two of the best-managed businesses in the clothing industry. Even if Columbia, Under Armour, and Nike (NYSE: NKE) pull off a healthy holiday season, I wouldn't extend that strength to cover the whole sector. Family budgets are still pretty tight, after all.

Interested in more info about Columbia Sportswear? Add it to My Watchlist.