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 apparel retailer Michael Kors Holdings (NYSE: KORS) climbed 15% today after its quarterly results and outlook easily topped Wall Street estimates.

So what: The stock has been volatile in recent months on concerns over a cutback in global consumer spending, but a wide first-quarter beat -- EPS of $0.34 versus the consensus of just $0.20 -- coupled with blowout guidance for 2013, is quickly easing those worries. In fact, quarterly same-store sales in Europe and North America surged 24% and 38%, respectively, while gross margins widened, giving investors plenty of optimism about the company's brand appeal going forward.

Now what: Management now sees full-year EPS of $1.32-$1.34 on revenue of $1.8 billion-$1.9 billion, up nicely from its prior view of $1.08-$1.12 and $1.7 billion-$1.8 billion, respectively. "Overall, we are extremely excited about the long term growth potential of our Company as we continue to build upon the success we achieved in establishing Michael Kors as a global luxury lifestyle brand," said Chairman and CEO John Idol. Of course, with the stock now up nearly 150% since its December IPO and trading at a forward P/E of 30, much of that growth might already be baked into the price

Interested in more info on Michael Kors? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. 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 Fool's disclosure policy always gets a perfect score.