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 high-end apparel company Ralph Lauren (NYSE: RL) climbed 11% today after its quarterly results and guidance topped Wall Street expectations.

So what: Ralph Lauren's third-quarter profit rose just 0.4% on higher costs, but a strong 17% jump in revenue is prompting investors to raise their growth expectations yet again. In fact, Ralph Lauren shares are hitting new 52-week highs on the news.  

Now what: Management now sees a full-year sales increase of 20%, versus its prior guidance of high teens to low 20% growth. "We believe sustained, disciplined investment in our growth initiatives, particularly our global retail and infrastructure development, will continue to yield strong returns for our shareholders over the long term," Chairman and CEO Ralph Lauren said. However, with the stock now up more than 25% year to date and still trading at a 25-plus P/E, much of that optimism already seems baked into the price.

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Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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