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 fashionista retailer True Religion (Nasdaq: TRLG) soared as much as 16% on a down day for the market after reporting second-quarter results that blew away estimates.

So what: Revenue rose 20% to $98.3 million while profit soared 30% to $0.38 a share. Analysts had been looking for $91.5 million and $0.34 a share, respectively, marking the second consecutive quarter in which True Religion has made Wall Street look silly.

Now what: Foolish colleague Sean Williams sees the report as confirming of a sustainable edge for the denim diva. "Is True Religion a bargain relative to its peers? I think the answer is still yes, even with [the stock] nearing its all-time high," he wrote earlier today. Do you agree? Disagree? Let us know what you think about True Religion using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insightsdelivered directly to your RSS reader.

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