Nike says ‘newness' is essential to growing its business. One analyst says it's not working.

As sneaker makers try to stay relevant amid waning demand, Nike Inc. executives on Thursday said they were banking on “newness and innovation” to win over reluctant shoppers. And as sales deals on shoes proliferate, they said interest in its sneakers that cost over $100 is still solid, and that an expansion of its Jordan brand — beyond basketball and shoes — represent big opportunities to boost profits. But one analyst on Friday cast doubt over whether those plans will work for all of Nike’s NKE, -11.92% cu ...