What: Shares of Vipshop Holdings Ltd-ADR (NYSE:VIPS) were down 24.5% as of 2:00 p.m. Friday after the China-based online discount retailer released selected preliminary third-quarter results.

So what: Quarterly revenue is now expected to be between RMB 8.6 billion (or roughly $1.349 billion) and RMB 8.7 billion ($1.365 billion), representing year over year growth of 61% to 63%. However, Vipshop's previous guidance called for third-quarter revenue of RMB 9.1 billion to RMB 9.3 billion, and analysts' consensus estimates called for revenue of RMB 9.23 billion.

Partially to blame, Vipshop says, is warmer-than-expected fall weather in China, which caused consumers to delay purchases of higher-priced cold-weather apparel.

Now what: Investors can expect to hear more in Vipshop's official third-quarter report after the bell this coming Tuesday, November 17, 2015. But given its freshly reduced revenue guidance, it seems safe to assume Vipshop likely won't live up to analysts' expectations for Q3 earnings of RMB 0.80 (or roughly $0.13) per American depositary share (ADS).

But arguably more important to Vipshop's direction going forward will be the guidance it provides for the coming quarter. For perspective, analysts' consensus estimates predict fourth-quarter revenue will rise 56.8% year over year to RMB 13.23 billion, and translate to earnings of RMB 1.16 per ADS. If that guidance indicates Vipshop's current seasonal woes will persist going forward, the stock may have more room to fall from here.

Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.