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 The Fresh Market Inc. (UNKNOWN:TFM.DL) were stinking up the market today, plummeting 19% after a poor third-quarter earnings report.

So what: Results for the high-end grocer came up short as per-share profits were flat versus a year ago at $0.23 due to an increase in depreciation and SG&A expenses from higher compensation, health-care, and pre-opening costs. Analysts had expected a profit of $0.26 per share, and revenue also missed the mark, growing 13% to $364.5 million against expectations of $373.4 million. Comparable sales were up modestly at 3.1% as CEO Craig Carlock noted "increasingly challenging economic conditions" in the quarter.

Now what: The Fresh Market's full-year outlook wasn't much better as it lowered its per-share earnings forecast to $1.42-$1.47, below the consensus at $1.53. The upper end of that range would give the company just a 10% EPS growth rate for the year, a poor result for a growth stock. Its store expansion plan and growing revenues should eventually delivery increasing profits to the bottom line, but the market seems justified in today's sell-off after the company whiffed on all counts.