Net income in the final fiscal quarter ended May 31 slipped 5% to $1,439 million from $1,509 million, as a double-digit decline in China combined with a difficult comparison in North America to send revenues down 1% (+3% CC) to $12,234 million from $12,344 million. Much of the modest bottom-line decline was due to a $65 million tax refund this year compared to a $345 million expense last year, helped by a one-time benefit from onshoring some non-U.S. intangible property. EBIT declined by 26% to $1,374 million. Nike Direct had a positive quarter, growing 7% overall, with Nike Brand Digital ... Log in to view full article.