From one executive role for a major value retailer to another, troubled Poundland has appointed former Wilko CEO Mark Jackson as its new chief financial officer.

Jackson is set to join current Poundland CEO Stephan Borchert, Retail Week reported.

Prior to this appointment, Jackson also served as chief financial officer of clothing brand Pep&Co, which is sold across Poundland and Pepco stores. He was also a former CEO of Bensons for Beds.

Poundland’s managing director Barry Williams said of the appointment: “Not only is Mark highly experienced in the kind of processes we’ll be undertaking, he’s also a long-term friend of our business. His experience as a turnaround specialist will be invaluable to us as we move to rebuild the business.”

He added: “We’ve a lot of work to do to get Poundland to a point where we can begin our recovery phase from a tough period—but I know with a clear action plan, the right backing and your support, we will put ourselves in the right position to do exactly that.”

The appointment comes as Poundland recently drafted in advisors at Teneo to oversee the sale of the value chain’s 825 store portfolio.

It was revealed earlier this month that Pepco Group was looking into ways to separate itself from Poundland, which has suffered a decline in sales over the last 12 months.

Premium beauty retailer Space NK is to open at Birmingham’s Bullring, with the brand committing to its largest store outside of London at the Hammerson-operated destination.

To be located on the mall’s Upper Level East, adjacent to AllSaints, Coach, and Dr Martens, the 5,500 sq ft store is set to open this summer as its regional flagship.

There will be a dedicated consultation area for make-up and skincare, with ‘play tables’ for customers to sit independently or with a member of the team to explore the store’s wide selection of beauty brands.

Andy Lightfoot, CEO of Space NK, said: “Our Birmingham community has been very vocal in its wish for us to return, [opening] our biggest store outside of London [it will] be our first standalone store in the city centre.”

Last year, beauty sales at Bullring & Grand Central “grew significantly, making it the best-performing category at the destination”, Hammerson said.

It added that the strength of consumer demand was reflected in the opening of Sephora’s West Midlands’ flagship, complete with the brand’s biggest window façade in Europe, and the regional debut of the K-beauty retailer PureSeoul. They added to Bullring’s “existing critical mass of beauty and wellness”, which includes Boots, Kiko Milano, and Selfridges’ beauty and cosmetics hall, alongside Grand Central’s line-up including Kiehl’s, L’Occitane and MAC.

Paul O’Brien, director of Leasing & Commercialisation at Hammerson, said: “Bullring and Grand Central continues to be the place to go for health and beauty in Birmingham. [Our] strategy of creating best-in-class spaces for international brands seeking a flagship presence in destinations that out-perform is evidenced by Space NK’s decision to open their largest store outside the capital”.

Hammerson added that Space NK’s signing “continues a strong run of key new additions to Bullring”, with Zara opening its significantly upsized flagship last autumn and SDMN Clothing opening its first store outside London.

Online resale platform ThredUp has launched its annual ‘Resale Report’ revealing that the global secondhand apparel market is projected to reach $367 billion by 2029, with a compound annual growth rate (CAGR) of 10%.

This year’s report, released in partnership with GlobalData, highlights that the secondhand apparel market outpaced the broader retail clothing market by five times in 2024. The U.S. secondhand apparel market grew 14% in 2024—its strongest annual growth since 2021.

In terms of shopping behaviour, shoppers are increasingly turning to secondhand options in response to economic shifts. In fact, 59% of consumers say if tariffs and trade policies make new apparel more expensive, they will opt for secondhand, a figure that jumps to 69% among Millennials.

With secondhand shopping becoming mainstream, brands are integrating resale into their business models. Ninety-four percent of retail executives report their customers are already participating in resale, a new record high. Likewise, 32% of secondhand shoppers in 2024 purchased directly from a brand, with nearly half (47%) of Gen Z and Millennial consumers doing the same. 

Social media platforms are becoming an important driver of resale adoption with 39% of younger shoppers having purchased secondhand apparel through a social commerce platform in the past year. Half of Gen Z and Millennial secondhand shoppers purchased items to create content or share on social media.

Lastly, artificial intelligence is revolutionizing the way consumers shop for secondhand goods. Now, 48% of consumers say AI-powered personalization, search, and discovery make shopping secondhand as easy as buying new. Meanwhile, 78% of retailers have already made significant investments in AI, with 58% planning to launch AI-powered tools in the next year.

“As consumers are increasingly thinking secondhand first, the retail industry is adopting powerful new pathways for resale,” said James Reinhart, CEO, ThredUp.

“From the integration of social commerce and innovative AI applications to the establishment of trade organizations and interfacing with government, it’s clear why resale is seeing accelerated growth and has such a promising growth trajectory.”