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's happening: Shares of Five Below Inc. (NASDAQ:FIVE) were up 10% as of 12:30 p.m. Thursday after the discount retailer posted better than expected fourth-quarter results.

Quarterly net revenue rose 24.4% year over year to $263.8 million, helped by a 20% increase in Five Below's store base and a 3.2% jump in comparable-store sales. Adjusted net income came in at $33.8 million, or a 29.8% increase to $0.61 per diluted share. Analysts, on average, were only expecting adjusted earnings of $0.60 per share on sales of $262.2 million.

In addition, Five Below CEO Joel Anderson stated management intends to increase Five Below's store base by another 19% in 2015 by opening 70 new locations. Meanwhile, same-store sales are expected to be up another 3% this year, all while Five Below plans to continue investing in future growth.
 
As a result, Five Below expects current-quarter revenue of $150 million to $152 million, with generally accepted accounting principles income per share of $0.06 to $0.07. Wall Street was modeling higher earnings of $0.08 per share on sales of $154.2 million. For the full year, Five Below sees net sales of $816 million to $824 million, with GAAP income per share of $1.02 to $1.05. Once again, analysts' consensus called for slightly higher 2015 sales and earnings of $835.3 million and $1.08 per share, respectively.

Why it's happening: Keep in mind back in January, Five Below stock plunged after the company not only announced underwhelming results following its crucial holiday season, but also revised guidance downward for its full fourth quarter. Yesterday's official numbers came in slightly ahead of that guidance. As it stands, that's why it is unsurprising the stock is recouping some of its earlier losses despite Five Below's light outlook.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Five Below. The Motley Fool is short Five Below. 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.