U.S. Two-Percenters Save Wealth in Trade-Down to J. Crew:

U.S. Two-Percenters Save Wealth in Trade-Down to J. Crew:

David Paul Morris/Bloomberg

A woman looks at her mobile phone outside an Urban Outfitters Inc. store in San Francisco. An increasing share of America’s “ultra-affluent” consumers view themselves as middle-class and are spending like “Henrys,” which stands for High Earner Not Rich Yet.