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 department-store operator Dillard's (NYSE:DDS) sank 10% today after its quarterly results disappointed Wall Street.

So what: The stock has rallied over the past year on strong sales growth, but a small fourth-quarter miss -- adjusted EPS of $2.87 versus the consensus of $2.89 -- is forcing Mr. Market to sober up a bit. While Dillard's managed to increase same-store sales for the 10th consecutive quarter, analysts are concerned that the rate of growth isn't keeping up with the valuation.

Now what: For 2013, management expects capital expenditures of $175 million, depreciation and amortization of $261 million, rentals of $27 million, and interest and debt expense of $65 million. "As we mark our 75th year at Dillard's this month, we are proud of our progress and excited about the future," said CEO William Dillard II in a statement. Given its still-hefty debt load and questionable competitive position, however, I'd be extra cautious about buying into that optimism.

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Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.