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Nike Inc. on Thursday said its first-quarter net income fell 12 percent as higher costs offset higher revenue from its footwear and athletic gear brands. Nike is also dealing with an uncertain economy in Europe and a deceleration in China. Here Charles Denson, Nike brand president, discusses Nike's plans for China.
QUESTION: How do you see the competitive landscape in China over time?
ANSWER: "I do see a consolidation in that marketplace. We've seen it, you know, time and time again around the world as markets develop. And I think you're going to see some of that in China as well. But we still believe that that market has a ton of growth left in it, and I don't want to let that get away (during) any of these conversations, that it's still a very, very big growth opportunity for the Nike brand."