This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Urban Outfitters, Crocs: After-Hours Trading (Update 1)

Updated from 4:42 p.m. ET for latest share prices, added information on Stryker, Coldwater Creek and MetLife.

NEW YORK ( TheStreet) -- Shares of Urban Outfitters (URBN - Get Report) tanked in late trades after the specialty retailer said Glen Senk has resigned as chief executive officer, effective immediately.

Senk has been CEO of the Philadelphia-based company, which operates Anthropologie stores in addition to its namesake locations, since May 2007. Urban Outfitters named Richard Hayne, its chairman and president, to assume the CEO role.

The company said Senk is leaving to pursue another opportunity but he will stay on board for an unspecified period of time to assist with the management transition. Senk has also resigned from the board.



The stock was last quoted at $25.26, down 14.1%, on volume of more than 2.2 million, according to Nasdaq.com.

"Glen joined the company nearly 18 years ago when the Anthropologie business was a single-store prototype," said Hayne, a co-founder of Urban Outfitters, in a statement. "We are forever grateful for his passion, creativity and leadership in building the Anthropologie brand to what it is today."

Hayne has served as chairman and president of Urban Outfitters since 1976.

Shares of Urban Outfitters were already down more than 25% in the past year. The stock hit a 52-week low of $21.47 in early October. Wall Street is slightly bearish with 17 of the 33 analysts covering the stock at either hold (14), underperform (1) or sell (2), and the 12-month median price target at $31 vs. Tuesday's regular session closing price of $29.41.

On Jan. 5, the company reported total sales for the two months ended Dec. 31 of $577 million, up 11% from the same period a year earlier, with flat comparable store net sales. At that time, Urban Outfitters also said its offerings so far in the fourth quarter were "more promotional" than originally anticipated, hinting at earnings pressure.

The company is expected to report its full fiscal fourth-quarter results on March 5, and the average estimate of analysts polled by Thomson Reuters is for earnings of 37 cents a share in the January-ending three-month period on sales of $739.7 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CWTR $0.02 0.87%
CROX $11.62 0.00%
MET $50.27 0.00%
SYK $92.56 0.00%
URBN $45.47 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs