Net income inched down 1% in the Swoosh’s fiscal first quarter ended Aug. 31 to $1,450 million from $1,468 million, helped by a one time tax benefit, while the top line grew by 2% to $12,939 million from $12,687 million. Profits were boosted more than $100 million by a delay in the effective date of U.S. foreign tax regulations. Nike brand revenues increased 3% to $12,353 million, including 4% growth in footwear to $8,421 million, and a 9% gain in equipment sales to $531 million, but apparel declined 1% to $3,388 ... Log in to view full article.