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 Bon-Ton Stores (NASDAQ:BONT) dropped more than 11% today after the company reported earnings.

So what: The company said sales in the second quarter fell 6% to $557.1 million and net loss improved from $45 million a year ago to $37.3 million, or $1.95 per share. But analysts were expecting revenue of $613.8 million and a loss of $1.38 per share, so results were well short of estimates.  

Now what: This is a slow time of the year for Bon-Ton, but trends are definitely heading in the wrong direction, something we've seen across retail. While the second quarter was bad, it was also discouraging to see management lower full-year earnings per share estimates from $0.40-$1 down to $0.15-$0.75. I think this might be a huge sell sign for investors and don't see a turnaround soon.

Interested in more info on Bon-Ton Stores? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks 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 Motley Fool has a disclosure policy.