Vera Bradley Inc. /zigman2/quotes/205998604/composite VRA -0.61% stock sank nearly 16% in early Wednesday trading after the accessories company reported a third-quarter earnings and revenue miss and gave a profit warning. Net income totaled $5.8 million, or 17 cents per share, down from $8.9 million, or 26 cents per share, last year. Adjusted EPS of 18 cents missed the FactSet consensus for 26 cents. Revenue of $134.7 million was up from $124.8 million last year and below the FactSet consensus for $138.0 million. The company's gross margins were under pressure during the quarter due to supply chain challenges and the "significantly increased" freight costs to manage them. Gross margins were 53.6% for the quarter. The disruptions hurt EPS by 5 cents, according to a statement from Chief Executive Rob Wallstrom. "We have begun to take strategic retail price increases across both of our brands to mitigate some of these inflationary and supply chain pressures. Those increases began in the fourth quarter of this year and will continue over the next few quarters," Wallstrom said. Vera Bradley's lineup includes the namesake label and the Pura Vida jewelry brand. EPS was further hurt by 3 cents due to tariffs. For the fourth quarter, Vera Bradley is guiding for revenue of $155 million to $160 million and EPS of 24 cents to 29 cents. The FactSet consensus is for revenue of $165.6 million and EPS of 40 cents. For the year, Vera Bradley is guiding for revenue of of $546 million to $551 million, EPS of 65 cents to 70 cents. EPS could get a boost of 9 cents to 11 cents if there's a retroactive tariff reinstatement. The FactSet consensus is for revenue of $559.4 million and EPS of 90 cents. Vera Bradley stock has gained 6.5% for 2021 while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.51% is up 24.8% for the period.