3 Reasons It's Time To Lock Up With Foot LockerThe first thing we need to get out of the way is, a company with over 3,400 Nike Air Jordan 4 Suede Shoes Navy Whitean 4 stores can be an exciting stock to own. If you have your doubts, check out what Foot Locker (NYSE: FL) has been up to. With the stock up more than 20% year to date, some might believe they have already missed the run up. However, there are 3 reasons to believe that today is a good buying opportunity for long term investors.Riding the waveor the swoosh as the case may beIt's undeniable Air Jordan Outlet that Foot Locker's relationship with Nike (NYSE: NKE) helped the company post strong results in the most recent quarter. During the company's conference call, Nike was a constant theme. Looking at Nike's results, compared to strength in Cheap 554988 003 Nike Zoom KD V Black Pack Black Blue Glow Foot Locker's earnings, there are some clear parallels.This close relationship to the footwear king is, the first reason investors should consider buying Foot Locker shares. Nike reported revenue up 5% annually, while Foot Locker generated a 2.6% increase in Nike Shox NZ sales. Excluding currency fluctuations, Nike generating 13% revenue growth, and Foot Locker posted an almost 8% gain.Foot Locker said its strongest category was footwear, which mirrored Nike's strength last quarter. The company also said that its Champs chain results would have been worse except for "strength in footwear." Whether it's the Jordan lineup, new Nike New Womens Nike Free Run 3 Shoes Grey Pink Womens running shoes, or women's fitness options, Foot Locker clearly believes Nike is the brand New Nike Free 5.0 V4 Shoes Grey Black to beat.Just to give even more color to the strength of Nike's results, Dick's Sporting Goods (NYSE: DKS) also saw strength because of the footwear giant. Dick's top line growth of 9% was driven by strength in footwear and apparel, two of Nike's biggest growth divisions. The point is, Nike's dominant market position is the tide that seems to be lifting all boats.Needless to say this is both a blessing and a curse for retailers like Foot Locker. As long as Nike continues to Nike Air Max drive strong sales, Foot Nike Free Womens Locker's sales should continue their ascent as well. If for some reason, Nike stumbles and its growth slows, this would hurt Foot Locker's results as well. In the short term, Nike's future orders look strong, so investors can take heart that Foot Locker's next quarter results should keep this wind at their back.3,400 stores and still room to growPeter Lynch once said of the retailer The Limited that the company's growth was easy to follow. As the retailer expanded from popular mall Nike Air Max to mall, the stock and earnings continued to grow. Once The Limited was in every popular mall in America, he said, "The Limited truly was."Some investors might make this assumption about Foot Locker. If the company has 3,400 locations, where else can they go? This leads us to the second reason investors should consider Foot Locker, the company has a long road ahead when it comes to international expansion. As an example, the European and Asia Pacific regions are supported by less than 20% of Foot Locker's store base. At the extreme end of international expansion, Dick's is largely a domestic operation, while Nike gets 52% of its sales overseas.In the Asia Pacific region, Foot Locker only has 91 stores. and Canada support over 1,100 Foot Locker stores. For investors concerned that international sales may not match domestic sales, the company quickly dispelled that fear.Specifically, Lauren Peters CFO said that, "our international divisions produced the strongest sales results within our store segment." Further she mentioned that Europe posted, "double digit sales increases in all the major countries on a constant currency basis." The company's Asia Pacific division performed even better than Europe.Logic would suggest, the company needs at least this many stores to support China's population alone. Even if the smaller geographic footprint of China required half as many stores, Foot Locker could still increase its Asia Pacific stores by more than six times to cover this one country.The bottom line is, Foot Locker's growth in Europe and Asia Pacific is in its infancy. If the company's Asia Pacific comps increasing, "in the low teens" is any indication of the future, investors have a lot to get excited about.Clear valueThe Buy ??Weatherman?? Nike Air Foamposite One Premium White/Modern Blue-Flash Yellow-Green For Sale Cheap third reason investors should consider locking up with Foot Locker has to do with the company's current valuation. Some investors would suggest, if Nike is such an important part of the Foot Locker story, why not just buy Nike stock?The short answer is simple, Nike is priced according to its recent results and its short term upside may be limited. The stock sells for a forward P/E ratio of 26, and analysts are calling for earnings growth over the next few years of just under 13%. On the other side of the coin, some investors might think Dick's is the better bet because of its smaller size.Dick's could be a good value, but the company has short term challenges that may keep the stock under pressure. The stock sells for a forward P/E of about 17, and Nike Air Jordan 3 Basketball Shoes Black White Red with expectations for 14% annual EPS growth for the next few years, the numbers look good. However, the company pointed to challenges with its e commerce relationship with GSI as an issue holding its results back. Given that Dick's isn't expected to move to its own e commerce platform until sometime Cheap 616175-700 Nike LeBron 11 Black Moon Silver Shoes South Beach Custom in 2017, online profits will be limited by the company's GSI fees. Nike Air Jordan 11 Retro Shoes White Red In addition, the company's challenges in its Golf Galaxy business seem persistent.Compared to the fairly valued Nike, New Nike Tr Fit Shoes Green or the challenges at Dick's, Foot Locker seems like the best bet. The company is expected to grow earnings at almost the same rate as Nike, yet Foot Locker's forward P/E is 30% cheaper. In addition, Foot Locker's yield of 1.5% is somewhat higher than Nike at 1%.The bottom line is, investors looking to ride the wave in athletic footwear and apparel should put Foot Locker on their short list. Whether it's the company's strong ties to Nike, long runway for international growth, or better valuation, there are multiple reasons to lock up shares at today's prices.Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More.)I wrote this article myself, and it 2015 Nike Free 5.0 expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.