Sanderson Design Group PLC announced that NEXT has extended its licensing agreement for Morris & Co. womenswear for up to two years. The contract renewal, which starts in April 2023, includes NEXT's in-store and online channels in the UK and Europe.

The initial NEXT range of Morris & Co. womenswear was launched in May 2021 and has performed strongly since that time. NEXT will use new designs and colourways during the extension period to launch a further range of Morris & Co.

womenswear from autumn winter 2023. Approximately £0.4 million of accelerated income will be recognised in the current financial year in respect of the first year of the two-year extension. A further £0.3 million of accelerated income will be recognised when the second year of the contract is confirmed, which would contribute to the Group's financial results for the year ending 31 January 2024.

The contract includes a break clause after year one, exercisable by either party by the end of October 2023.