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 hardwood flooring retailer Lumber Liquidators (NYSE:LL) climbed 10% today after its quarterly results and guidance topped Wall Street expectations. 

So what: The stock has soared over the past year on better-than-expected growth, and today's second-quarter results -- EPS spiked 70% on a 22% jump in revenue -- coupled with upbeat guidance for the full year only reinforces that trend. In fact, gross margin expanded 40 basis points to 41.3% while same-store sales increased 15%, giving analysts plenty of good vibes over its competitive position and ability to grow profitably.

Now what: Management now sees full-year EPS of $2.45 to $2.60 on revenue of $940 million to $963 million, up nicely from its prior view of $2.10 to $2.35 and $913 million to $942 million. "Our success in expanding gross margin allows us to reinvest across our industry-leading value proposition, and we see multi-year opportunities to expand operating margin while we continue to grow our store base," said CEO Robert Lynch. Of course, with the stock now up a whopping 160% over its 52-week lows and trading at a forward P/E of about 30, I'd wait for some of the excitement to fade before buying into those growth prospects.   

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends Lumber Liquidators. The Motley Fool owns shares of Lumber Liquidators. 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.