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 retailer bebe stores (Nasdaq: BEBE) jumped 17% today after the company announced fiscal fourth-quarter sales.

So what: Retail sales from continuing operations increased 7.3% to $122.4 million in the quarter. Management expects earnings to be at the high end of guidance, which was $0.01 to $0.04 per share prior to certain charges.

Now what: bebe has been through a rough drop in sales, and this could be signaling a turnaround for the company. After dropping 17.1% in 2010, same-store sales improved 0.4% for the full year, and the large increase this quarter has the company headed in the right direction. I'm not jumping on the move today simply because the company's forward P/E ratio of 56 is too steep, but the improving trends are worth keeping an eye on.

Interested in more info on bebe stores? 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.

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