Profit at US sportswear giant Nike fell in the first quarter year-on-year, the company reported on Tuesday. The company’s bottom line totalled $1.05 billion, or $0.70 per share. This compares with $1.45 billion, or $0.94 per share, in last year’s first quarter. The company’s revenue for the quarter fell 10.4% to $11.589 billion from $12.939 billion last year. “NIKE’s first quarter results largely met our expectations. A comeback at this scale takes time, but we see early wins — from momentum in key sports to accelerating our pace of newness and innovation,” executive vice president and chief f…