Dick's Sporting Goods Stock Hits Record High After Strong Earnings Report

The retailer projects continued growth in 2024, buoyed by strategic investments and positive sales trends.

Dick's Sporting Goods stock reached a record high following a strong fourth-quarter earnings report, with revenue and profits surpassing Wall Street expectations.
The company announced a 10% increase in its quarterly dividend to $1.10 per share, reflecting confidence in its financial health and future prospects.
Comparable store sales grew by 2.8% in the fourth quarter, indicating robust performance across its 855 stores and 131 locations under specific sports brands like Golf Galaxy.
CEO Lauren Hobart projects another strong year in 2024, planning to grow sales and earnings through positive comps, higher merchandise margin, and productivity gains.
The retailer's stock has gained about 45% since the start of the year, buoyed by strategic investments in new store formats and an omnichannel experience.