Foot Locker (FL) - Get Report reported a "great quarter" on Friday, TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment Monday. However, its conference call had implications for other stocks. 

Shares of Under Armour (UA) - Get Report are rebounding only slightly Monday after declining on Friday when Foot Locker's management said UA's Curry 3 shoes got off to a slow start compared to other models

Those comments put increased pressure on the stock, which is now down 17% on the month and about 35% from its 52-week highs, said Cramer, the co-manager of the Action Alerts PLUS portfolio.

Part of the problem with Under Armour is uncertainty -- investors do not know how the company's growth story is coming along. While Under Armour is still growing, each growth metric is being re-evaluated now, Cramer explained. 

It doesn't help that apparel and footwear stocks like Under Amour and Nike (NKE) - Get Report are largely out of favor among investors. Right now, the market likes tech, financials, industrials and some healthcare stocks, Cramer concluded. 

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.