Benzinga | Aug 25, 2021 08:46AM EDT

Why Dick's Sporting Goods Shares Are Trading Higher Today

DICK'S Sporting Goods, Inc. (NYSE:DKS) shares are trading higher after the company reported better-than-expected second quarter financial results and issued full-year 2021 guidance above analyst estimates.

The company also announced a special dividend of $5.50 and plans to increase buybacks to a minimum of $400 million.

"We said 2021 was going to be the most transformational year in our history, and so far, it certainly has been. We continue to perform at a very high level and invest in our future to reimagine the athlete experience in our core business and with new concepts," said Ed Stack, Executive Chairman.

DICK'S Sporting Goods retails athletic apparel, footwear, and equipment for sports.

DICK'S Sporting Goods' stock was trading about 13% higher at $129.40 per share Wednesday morning at the time of publication. The stock set a new 52-week high of $129.50 and has a 52-week low of $50.47.