S&P revises Foot Locker view to stable

S&P said it revised Foot Locker Inc.’s outlook to stable from negative and affirmed its BB+ issuer rating.

“We expect Foot Locker to continue to generate good free operating cash flow (FOCF) and maintain strong credit metrics, following better-than-expected performance in fiscal 2020. We expect the company to return to growth in 2021 as the continued trend toward healthy and active lifestyles, the casualization of apparel, and the strength in basketball athletic footwear will continue to drive healthy consumer demand,” S&P said in a press release.

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