Floor & Decor (NYSE: FND) is a fast-growing specialty retailer. While it competes with hardware stores, including both mom-and-pop stores and industry giants like Home Depot, it really stands head and shoulders above most of its competition -- at least in its flooring niche. Here's why that could be good and bad news.

To get the bad side of the story out of the way first, the state of the housing market will have a huge impact on Floor & Decor's performance. There's really no way around that. The company sells flooring and related products, and that's basically it. As demand waxes and wanes in the housing market, so, too, will demand for flooring.

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Source Fool.com