Ann Taylor Stores confirmed earlier reports that it will launch a new chain of clothing stores for Boomer women. CEO Kay Krill told Dow Jones: “While there are a number of companies that currently play in the broader boomer market, we believe that this particular segment has been the most significantly underserved and a huge opportunity for us…” A former Jones Apparel Group executive, Mark Mendelson, will run the new chain.

Ann Taylor confirmed plans for the chain as it disclosed a 27 percent decline in second quarter earnings.

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