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Actionable news in FL: FOOT LOCKER Inc,

More Squawk From Jim Cramer: Foot Locker (FL) Stock Hurt by Downgrade, Mall Traffic

NEW YORK (TheStreet) -- Foot Locker (FL - Get Report) stock is declining 1.97% to $60.21 in early-morning trading on Friday following a ratings downgrade to "market perform" from "outperform" at Cowen.

Nike (NKE) is expected to increase promotional activity for some of its products, which could draw customers away from Foot Locker stores, according to the firm.

Foot Locker is further burdened by a decline in mall traffic, TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

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