Why Dick's Sporting Goods Stock Soared Today
Shares of Dick's Sporting Goods (NYSE: DKS) surged on Wednesday after the retailer delivered excellent second-quarter results and increased its cash payout to shareholders.
As of 2:30 p.m. EDT, Dick's stock price was up more than 14%.
Dick's net sales jumped 20.7% year over year to $3.27 billion, fueled by a 19.2% increase in same-store sales. Both figures were well above Wall Street's estimates, which had called for revenue of $2.84 billion and comp growth of 5.4%.
Source Fool.com
