"Dick's Sporting Goods: Record Sales and Dividend Hike Propel Stock to New Highs"
Originally Published 1 year ago — by Investor's Business Daily
Dick's Sporting Goods (DKS) reported strong fourth-quarter earnings, with a 31% increase in EPS and an 8% rise in sales, leading to a 76% rally in its stock after announcing a 10% dividend hike. The company also provided 2024 guidance, expecting comparable-store sales growth of 1%-2% and earnings between $12.85-13.25 per share. The stock surged 14.2% in market action, continuing its upward trend in 2024, while other retail stocks like Abercrombie & Fitch and Costco experienced fluctuations in the market.