Item 2.02 Results of Operations and Financial Condition.

Today NIKE, Inc. (the "Company") issued a press release disclosing financial results for the fiscal quarter ended February 28, 2009. The text of the release is furnished herewith as Exhibit 99.1.

Item 2.05 Costs Associated with Exit or Disposal Activities.

On March 16, 2009, the Company committed to certain actions in furtherance of its previously announced restructuring, including the termination of impacted employees. The restructuring is intended to streamline the Company's management structure to enhance consumer focus, drive innovation more quickly to market and establish a more scalable cost structure. As a result of these actions, the Company expects to incur gross restructuring and related charges of between $175 million and $225 million, consisting primarily of cash charges relating to severance costs. The Company expects to incur most of these charges in the fourth quarter of fiscal 2009. When completed, the Company expects to generate annualized savings of an amount comparable to the charges.*

Item 2.06 Material Impairments.

On March 13, 2009, the Company concluded that it had an impairment related to the goodwill, intangible and other long-term assets of Umbro Ltd., a wholly-owned subsidiary of the Company ("Umbro"). As a result, the Company has recorded a pre-tax non-cash impairment charge of $401.3 million. On an after-tax basis, the impairment charge is $240.7 million. This impairment charge will be reflected in the Company's financial statements for the fiscal quarter ended February 28, 2009. The impairment charge is a result of a combination of factors, including the deteriorating global consumer markets, particularly in the United Kingdom, which is Umbro's primary market, management's decision to adjust planned investment in the brand, the decline in forecasted profits and cash flows from those originally projected at the date of acquisition of Umbro, and financial market volatility, which has reduced both the estimated present value of future cash flows and the market value of comparable businesses.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is furnished with this Form 8-K:

99.1 Press Release dated March 18, 2009.