Nike yesterday reported a net income for the 2Q ended
     November 30 of $141M, or $.48/share, compared to $176.9M, or
     $.60/share a year ago.  Revenues increased 7% to $2.26B from
     $2.11B last year.  In the U.S., athletic footwear revenues
     declined 3% to $787.6M, compared to $814.9M (Nike).  
          REAX: Nike said that "a world-wide slowdown in demand
     for its footwear and apparel, especially in Asia, broke its
     three-year streak of earnings gains," driving down its
     earnings by 20% "and promising to depress revenue and
     earnings for the next two quarters," according to Bill
     Richards of the WALL STREET JOURNAL.  Analysts had projected
     that Nike would report earnings of $.55/share.  Nike also
     said that worldwide future orders, set for delivery between
     December and April, fell 1% to $4.2B world-wide.  Nike said
     the slowdown was due to a mix of order cancellations in the
     U.S. and Asia, inflated inventories and "problems" in the
     Asian markets (WALL STREET JOURNAL, 12/19).