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 DSW (NYSE: DSW), a footwear retailer operating throughout the U.S., are stepping over the competition, currently up 12%, after the company once again raised its full-year earnings guidance.

So what: Notice the key phrase there: "once again." This marks the fourth time that DSW has raised EPS guidance for fiscal 2011. Thanks in part to higher-than-expected same-store sales in November and a strong December, DSW has bumped its fiscal 2011 EPS guidance to $2.96-$2.99, up from a previous forecast of $2.90-$2.95. Wall Street estimates had the company pegged for $2.95. DSW also plans to open 35 to 40 new stores in 2012, well ahead of its own long-term goal of 15 to 20 per year.

Now what: A few weeks ago I had hardly even heard of DSW, let alone been inside of one. But that all changed when I was recently dragged to one and I saw just how busy the store appeared. Today's results simply confirmed my analysis that DSW is headed in the correct direction. Although the company isn't exactly cheap at 15 times forward earnings, its debt-free balance sheet and recent history of strong results are enough to get two resounding thumbs-up from me.

Craving more input? Start by adding DSW to your free and personalized watchlist so you can keep track of the latest news with the company.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.