Nike’s net income more than doubled to...

Nike’s net income more than doubled to $57 million in the first quarter from $25.1 million a year ago. The Beaverton, Ore., athletic shoe and apparel maker said revenue increased 81% to $510.7 million. The company noted that revenue from domestic footwear operations was up 89% and domestic apparel revenue was up 47%. In addition, sales and administrative expenses were lower, dropping to 16.8% of first-quarter revenue, compared to 18.9% for the like period last year.