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) 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.

Crocs

Crocs ( CROX) shares rose nearly 6% to $16.86 in the extended session on volume of more than 550,000 after the company said it expects its fourth-quarter revenue to come in at the high end of its outlook of $200 million to $205 million.

Wall Street's consensus view is for revenue of $204.5 million in the December-ended quarter. The fashion footwear maker added that it sees annual revenue surpassing $1 billion in fiscal 2011 for the first time in its history.

"Exceeding $1 billion in revenue in less than 10 years is a testament to the power of our global brand and the potential of our Company," said John McCarvel, the company's president and CEO. "Few companies in our industry have reached this milestone so quickly. As we begin our 10th anniversary year in 2012, everyone at Crocs can be proud of what we've achieved together, and we're looking forward to the next 10 years."

Crocs shares have lost more than 3% in the past year. The six analysts covering the stock are split between strong buy (2), buy (2), and hold (2), with the 12-month median price target at $25.50 vs. Tuesday's regular session close at $15.95.

Other making news late Tuesday included Stryker ( SYK), which said it sees double-digit percentage growth in its adjusted earnings per share in fiscal 2012, sending the stock up 2% in extended trades; Coldwater Creek ( CWTR), whose shares fell nearly 5% to 98 cents after the specialty retailer said it sees loss of 18 to 24 cents a share in its fiscal fourth quarter, wider than a previous projection for a loss of 13 to 21 cents a share; and MetLife ( MET), which said it's exiting the forward residential mortgage business. Shares of MetLife, which expects to record costs as high as $110 million over the next year in relation to the decision, ticked up a penny to $34.56 on volume of around 180,000, according to Nasdaq.com.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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