Jim Cramer -- Foot Locker's Comments Hurt Under Armour

Foot Locker (FL) 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) 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) are largely out of favor among investors. Right now, the market likes tech, financials, industrials and some healthcare stocks, Cramer concluded. 

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

More from Opinion

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

It's Dumb to Think There Aren't Already Monopolies in Big Tech

It's Dumb to Think There Aren't Already Monopolies in Big Tech