Despite being up in premarket trading, shares of Vera Bradley (NYSE:VRA) are trading lower after the firm reported its fiscal Q1 earnings beat estimates and it reaffirmed its guidance of FY 2012. The company reported first quarter EPS of $0.31, beating estimates of $0.29 per share. Revenue for the quarter rose 15.6% to $117.2 million, again above estimates of $116.86 million.Vera Bradley said it was able to offset higher cotton prices and labor costs during the period by boosting sales 34% year-over-year at its own locations and 26% at its online segment.The company’s shares are falling in early trading, down almost 7% to $20.29.
