THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Next sells third party customer service operation

Next has sold Ventura, its third party customer services operation, to Capita plc in a £65 million deal. The retailer said it would use the majority or all of the proceeds from the sale to buy back and cancel its own shares.

GENERAL MERCHANDISE

Next sells third party customer service operation

Next has sold Ventura, its third party customer services operation, to Capita plc in a £65 million deal. The retailer said it would use the majority or all of the proceeds from the sale to buy back and cancel its own shares.

Earlier this year Next outlined the potential for £160 million of share buybacks in the current year and is now updating that guidance to £225 million.

The sale consideration is £65 million on a cash free, debt free basis, of which £63 million is payable in cash on completion. 

For the year to date, Next has purchased and cancelled 7.9 million of its own shares at a total cost of £173 million, 4.36% of the shares in issue at the start of the year.

Ventura is the trading name of Club 24 Limited.  In the year to January 2011 Ventura reported turnover of £156 million and operating profit of £8 million. The company employs around 8,000 people, primarily in Yorkshire, Cardiff, Milton Keynes and India. Next said it intended to continue using Ventura's services.

The sale does not include Next Directory's customer and account management services which are provided through the Next UK call centres.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues