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 clothing company G-III Apparel Group (Nasdaq: GIII) zoomed higher by as much as 11% today after the company reported better-than-expected second-quarter results.

So what: For the quarter, G-III, which sells apparel under the Marc New York label, but also has fashion licenses for the Sean John, Kenneth Cole, and Calvin Klein brands, saw revenue rise 9% to $251.5 million as net income dipped slightly to $0.07 from the $0.08 it reported in the year-ago period. Despite the drop in income, these results were more or less in line with Wall Street's expectations of $250.5 million in revenue and a profit of $0.07. Where G-III really got its boost was in its upped full-year forecast, which now calls for revenue of $1.41 billion (up from $1.35 billion), and an EPS range of $2.68-$2.78 (including one-time costs), up from a previous forecast of $2.62-$2.72.

Now what: Here we go again with more evidence that consumers are cutting back spending on everything except for brand names. Michael Kors (NYSE: KORS) has been the poster child for brand-name-clothing growth, posting same-store sales growth north of 30% in multiple quarters, and it appears G-III is experiencing that same lift from its brand name licenses. I admit to still being a little leery about jumping on a company that's rocketed higher in the apparel sector, considering that so many retailers have fallen short of earnings recently, but it definitely deserves a spot on My Watchlist.

Craving more input? Start by adding G-III Apparel to your free and personalized Watchlist so you can keep up on the latest news with the company.