June 28 (Reuters) - Nike ( NKE ) will roll out new

$100-and-under sneakers in countries around the world, its chief

financial officer said Thursday, as the sportswear giant tweaks

its product lineup in a plan aimed at getting sales back on

track.

Nike ( NKE ) has significantly hiked the list price of its

top-end Air Jordan 1 sneakers in recent years. The shoes

currently sell for as much as $200 at some retailers including

Nordstrom on Nike.com.

Top-end Air Force 1 sneakers meanwhile sell for about $150

on Nike's ( NKE ) website. In comparison, rival Adidas' three-striped

white and black Samba and multi-colored Gazelle sneakers are

priced at $100 and $120 respectively.

Nike ( NKE ) shares slumped Friday, ending the day down 19.98%, the

biggest one-day percentage drop in the stock's history. The

company on Thursday reported a surprise sales decline in its

latest quarter. Nike ( NKE ) has seen sales growth slow as it battles

competition from Adidas, as well as the likes of On and Deckers'

Hoka brand.

Executives also flagged softer traffic in its factory stores

that sell discounted shoes and clothing, highlighting increasing

pressure being felt by the value consumer.

"This is likely a bid to secure some more price-sensitive

consumers, GlobalData analyst Neil Saunders said, referring to

the new $100-and-under line. Nike CFO Matthew Friend told

investors on Thursday "Our teams are also attacking

opportunities across price points."

Americans are cautious in their spending, especially when it

comes to nice-to-have, or non-essential, merchandise like trendy

sneakers. However, rival Cloudflow 4 and Hoka's Clifton 9

running shoes, which sell for $159.99 and $145 respectively,

recently have been making the cut with many shoppers.

Nike's ( NKE ) competitors in the "affordable" category include

Hoka and Roger Federer backed-On, analysts said. "That's an area

that they can compete in better in the near term," said Truist

Securities analyst Joseph Civello.

Nike's ( NKE ) roll-out of a new line could be a risky move for the

company because its sales decline is worsening.

"It might work to a degree, but it does not remedy the wider

problem of a lack of innovation" at Nike ( NKE ), a sponsor of the U.S.

Olympic and Paralympic Committee, Saunders said.

Some key Nike ( NKE ) styles have recently lost value on the resale

market, where Air Jordan 1 Retro High OGs resale price is at a

discount of about 32% as of May, according to Altan Insights,

which studies the collectible sneaker market.