TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer is concerned about Foot Locker (FL) - Get Foot Locker, Inc. Report and the weakness in Nike's (NKE) - Get NIKE, Inc. (NKE) Report Michael Jordan sneaker line.
"[Foot Locker] said basketball shoes were down double-digits - that's shocking," Cramer said.
On Monday, Nike was downgraded by Jefferies.
Watch all of Jim Cramer's latest videos, right here:
- Jim Cramer on Bill Ackman: ADP Isn't Doing That Badly
- Intel Is Making a Concerted Effort Against Advanced Micro Devices and Nvidia, Jim Cramer Says
- If Herbalife Goes Private, That's Terrible for Bill Ackman, Jim Cramer Warns
- Jim Cramer Reveals Why Alibaba Shares Are Higher Again
- Elliott Management Is the Winner in the Oncor Deal, Jim Cramer Explains
- Jim Cramer Reveals What to Watch in Salesforce's Earnings on Tuesday