-
Mass affluent, Gen Y defer spending for retirement
New York – In what could be bad news for retailers, “mass affluent” consumers (those with $50,000 to $250,000 in investable assets) and Gen Y (age 18-34) are cutting back on spending to save for retirement. According to the Spring 2013 Merrill Edge Report, the average mass affluent investor expects to save $860,000 for retirement but has only saved $150,000. If given an extra $1,000 per month, 50% of mass affluent consumers would put it toward savings or paying down debt.
-
Former Sara Lee exec new SVP, CFO at PetSmart
PHOENIX — PetSmart has appointed former Sara Lee executive Carrie Teffner as the company’s new SVP and CFO.
Teffner has more than 20 years of management experience, most recently serving as EVP and CFO at Weber-Stephen Products LLC, a leading manufacturer and exporter of barbecue grills and accessories worldwide.