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: Coldwater Creek (Nasdaq: CWTR) shares are down a staggering 35% in morning trading today.

So What: The specialty retailer announced that it expects a loss in the third quarter due to poor customer response to its merchandise. The company is forecasting a per-share loss of $0.14 to $0.19, down from earlier estimates of a per-share profit of $0.01 to $0.04.

Now What: Consumers may benefit as the company slashes prices to move its "fashion missing" inventory. Now analysts and investors have their eyes on Ann Taylor (NYSE: ANN) and Chico's (NYSE: CHS), to see if Coldwater Creek's issues are company-specific or part of a broader spending trend in women's apparel. Talbots (NYSE: TLB) earlier in the month predicted that it would have a weak third quarter. Shares of the retailers are trading down this morning.

Interested in more info on Coldwater Creek? Add it to your watchlist by clicking here.

Fool contributor, April Taylor, does not own shares of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.