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 fashion retailer Fossil (Nasdaq: FOSL) came back in style today after the company reported earnings.

So what: Revenue was impressive, growing 37% to $537.0 million, but the bottom line was truly impressive. Earnings per share jumped from $0.53 last year to $0.86 this year, easily crushing estimates of $0.66 from analysts.

Now what: The results are a welcome surprise to investors who have had disappointing results from fashionable retailers. Competitors Guess? (NYSE: GES) and Aeropostale (NYSE: ARO) were both hit hard recently when they downgraded their outlook, but Fossil has no such problems. I see investors putting their Fossil sunglasses back on, giving this Hidden Gems pick a boost heading into the summer season.

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