A new sneaker deal shows how important Nike is becoming to Foot Locker — and it could be a boom for both companies (FL, NKE)

AP/Bennett Raglin

• Foot Locker has launched a "Discover Your Air" campaign in which it will exclusively sell a number of Nike sneakers. 
• Nike represents nearly 70% of Foot Locker’s merchandise purchases.
• As Nike improves, so too should Foot Locker, according to Jefferies analysts.
• Watch Foot Locker trade in real-time here.

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Nike is becoming even more important to its partner Foot Locker, according to Jefferies analysts.

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