NEW YORK (TheStreet) -- Shares of Vince (VNCE) are tanking, down -12.47% to $33.91 in afternoon trading, after analysts at Wells Fargo (WFC) said the company's yearly EPS increase was "conservative" and added that the strong expectations of the second quarter earnings may account for the muted reaction today.
Vince updated its full year revenue guidance to $335 million - $345 million from $325 million - $340 million, compared to the consensus revenue estimate of $338.67 million.
The company updated its full year earnings guidance range to 90 cents - 94 cents per share, up from the prior guidance of 88 cents - 92 cents per share, and in line with the 92 cents per share Capital IQ consensus estimate.
The apparel retailer reported a 30.8% increase in second quarter earnings of $44.0 million, or 28 cents per share, from $33.6 million one year ago, and above the Capital IQ consensus estimate of 24 cents per share.
Revenue for the quarter rose 20.2% year over year to $89.3 million from $74.3 million in the second quarter of 2013, beating the $83.9 million consensus estimate.
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