Dick's Sporting Goods stock jumps on Q4 sales, raises dividend

Shares of Dick's Sporting Goods (DKS) are trading higher Thursday morning after the company posted its fourth quarter earnings, revealing an increase in same-store sales by 2.8% year over year. The report also showed revenue for the quarter was $3.88 billion, beating expectations of $3.8 billion. The retailer announced it would raise its dividend by 10% to $1.10 per share.

Yahoo Finance Anchors Seana Smith and Jared Blikre break down the latest developments for Dick's Sporting Goods and what they could mean for the company moving forward.

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Editor's note: This article was written by Nicholas Jacobino

Video Transcript

JARED BLIKRE: Dick's Sporting Goods, it's surging. Looks like it's up 17% now after posting an earnings beat in the fourth quarter, seeing same store sales climb 2.8% from a year ago. Shares of Dick's Sporting Goods up nearly 30%. How much is that this year? 49%. So almost 50% year-to-date as I have this up on the Wi-Fi Interactive. And just as Dollar General was suffering over the last two years basically, flip side for Dick's, you can see over the last five years, it is up 534%, Seana.

SEANA SMITH: And net sales of 3.88 billion, topping the Street's expectations. Here, comp store sales rising nearly 3%. They're up 2.8% in the most recent quarter. They were, though, lower than that more than 5% jump that the company had reported just about a year ago.

But they're also boosting their dividend, another theme that we've seen play out this earnings season here from several of those in corporate America here. So Dick's Sporting Goods raising their special quarterly dividend 10% to $1.10 a share. But again, the stock gaining here in the premarket a massive move to the upside, Jared, up just about 17%