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 PriceSmart (Nasdaq: PSMT) were crushed, falling as much as 20% today after the company released earnings.

So what: Net sales increased 24% to $478.7 million and net income was $14.0 million, or $0.47 per share, down from $0.50 per share a year ago. Analysts had expected earnings of $0.58 per share on revenue of $472.5 million.

Now what: An earnings disappointment like this will quickly send shares to the doghouse, and that’s exactly where PriceSmart is today. The company pointed to a $0.04 per-share loss on currency translation as one of the reasons the company fell short of estimates. I’m encouraged by the growth rate, but with the stock trading at a 29 P/E, multiple earnings need to be climbing for this Fool to get excited about PriceSmart.

Interested in more info on PriceSmart? Add it to your watchlist by clicking here.

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.

Motley Fool newsletter services have recommended buying shares of PriceSmart. 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.