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 Retail Ventures (NYSE: RVI) jumped 17% today after DSW (NYSE: DSW) reported earnings that beat expectations.

So what: Since DSW is Retail Ventures' only operating investment and the companies will soon be merging, this move is really just a copycat of DSW. But since DSW reported earnings that crushed estimates, it's no wonder shares in both companies are rocketing higher today.

Now what: First quarter earnings per share of $0.85 beat estimates by $0.10 and are the main driver behind the news today. Retailers have been struggling lately, but DSW and Foot Locker (NYSE: FL) both reported outstanding earnings, so the footwear business isn't hurting. Maybe consumers are upgrading shoes before clothing, but whatever it is, footwear retailers are in a hot spot right now.

Interested in more info on Retail Ventures? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. 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.