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: Williams-Sonoma (NYSE: WSM) popped 12% in intraday trading today after reporting better than expected non-GAAP EPS and raising its dividend.

So what: Non-GAAP EPS of $1.08 increased 26% year over year and beat the consensus estimate of $0.98. The quarterly dividend was raised by 13% to $0.17.

Now what: Revenue was up a relatively robust 9.7% from the year-ago quarter, with same-store sales up 5.2%. Fiscal 2011 guidance calls for non-GAAP EPS of $2.11 to $2.19, ahead of the consensus estimate of $2.09. Management stated it expects to continue gaining market share and improving profitability this year, thanks to initiatives to improve its supply chain, merchandising, marketing, and customer acquisition and service.

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Fool contributor Cindy Johnson does not own shares of any company named above. 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.