Vipshop Holdings (NYSE: VIPS) reported Q1 EPS of $0.63, $0.15 better than the analyst estimate of $0.48. Revenue for the quarter came in at $701.9 million versus the consensus estimate of $650.5 million.

Vipshop Holdings sees Q2 2014 revenue of $780-790 million, versus the consensus of $685.6 million.

Mr. Eric Shen, Chairman and CEO of Vipshop, stated, "We are very excited to report robust first quarter 2014 financial results, which reflect our continued strong growth momentum and increasing operational efficiencies, evidenced by 125.9% year-over-year growth in net revenues and incremental gross margin expansion to 24.9%. As the integration of our strategic acquisition of Lefeng commences, we expect to benefit from synergies associated with streamlining our comprehensive cosmetics offerings and cross selling to our customer bases and lowering our combined operating expenses. In addition, we aim to further improve the customer experience for viewing and purchasing products across both the PC and mobile platforms and evolve with our customers' purchasing habits. We are confident that our initiatives in 2014 of expanding our warehousing, merchandizing and IT capabilities will help further enhance our ability to satisfy, retain and attract customers, through delivering the best-in-class customer experience and product selection, and drive long-term value for our shareholders."

Mr. Donghao Yang, CFO of Vipshop, commented, "We're proud of our first quarter financial performance and initial results of our integration with Lefeng. We believe that our on-going investments in warehousing expansion and management will continue to help us improve sales capacity and reduce our operating costs, providing a strong foundation for our continued growth over the coming years. We are committed to further growing our product portfolio both organically and through acquisitions when appropriate."

For earnings history and earnings-related data on Vipshop Holdings (VIPS) click here.