Nike Profit Rises 9% on Emerging Markets, Revenue Lags Estimates

Nike's fiscal first-quarter profit rose 9% as a surge in emerging-market sales, less inventory and fewer discount sales offset the negative effect of foreign-exchange rate changes. Shares fell in extended trading after the company's sales lagged analyst estimates.

Chinese Sneaker Giant Steps Onto Nike's Home Turf

With a logo that's extraordinarily reminiscent of the Swoosh, a focus on basketball shoes and huge deals with big-name NBA stars, sneaker maker Li Ning is starting its battle for America's feet in Nike's own backyard: Portland, Oregon.