Nike, Inc. has reported increased revenue for the first quarter ended August 31. Revenue grew 9% to $4.2 billion compared with $3.9 billion for the same period last year. However, net income declined 13% to $377.2 million compared with $432.3 million in the prior year. Results for the first quarter included a $40.8 million expense, net of taxes, related to the expensing of stock options. Excluding this, first quarter net income declined 3%.

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