(Reuters) - Mid-tier retailer J.C. Penney Co Inc is expected to announce a new line of moderately-priced women's apparel later on Tuesday, the Wall Street Journal said.
The paper said the company hopes the line will boost sales among shoppers, especially those in their 20s and 30s, who are cutting spending in the financial crisis.
The apparel line, which has been designed by Allen B. Schwartz, creator of the high-end A.B.S. line, will be named "ALLEN B.," and will launch in 600 of J.C. Penney's 1,083 stores in spring 2009, the paper said.
The dresses will priced moderately compared with A.B.S.'s other lines sold in retailers like Neiman Marcus, but will be among Penney's most expensive, the Journal said.
J.C. Penney was not immediately available to comment.
(Reporting by Shradhha Sharma in Bangalore; Editing by David Cowell)
