Foot Locker's struggles could hurt Nike's stock.

After Foot Locker slashed its full-year sales forecast, analysts are concerned that Nike may also be affected by the "tough macroeconomic backdrop." Foot Locker's declining same-store sales and high inventories have caused Nike's stock to drop nearly 3%. Analysts suggest that Nike is facing issues beyond inventory, including a general slowdown in discretionary spending and increased competition from secondary sellers. Nike is expected to provide its latest quarterly results on June 20.