S&P changes Floor & Decor view to positive

S&P said it changed the outlook for Floor & Decor Holdings Inc. to positive from stable and affirmed all its ratings on the company, including the BB- issuer rating.

After a tough second quarter, the company’s performance recovered rapidly in the third quarter with an 18.4% increase in comparable sales and total sales growth of over 30%. The pandemic lifted Floor & Decor’s third-quarter results, and S&P said it forecasts it will continue to benefit from this support over the next several quarters.

“The positive outlook reflects that we could raise our rating on FND if it maintains stable performance, successfully re-accelerates its store growth, and articulates a financial policy consistent with the maintenance of a conservative capital structure,” S&P said in a press release.

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