Jim Cramer Reveals Why Foot Locker's Earnings Call Was Devastating for Nike
What Foot Locker's quarter means for Nike.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer is concerned about Foot Locker (FL) - Get Report and the weakness in Nike's (NKE) - Get 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.
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