The Warehouse Group (WHS)

• What concrete actions are planned to rebuild The Warehouse segment result from $17.7m, given the -75% fall is not explained by the disposed operations?
• Why was capex cut by 65.9%, and at what level does the board view capex as adequate to maintain the store network and digital platforms?
• When does the board expect to resume a final dividend, and what coverage threshold needs to be met?
• Why did the effective tax rate rise to 68.2%, and is that a one-year distortion or a recurring drag on continuing-ops NPAT?
• How is H2's 7.6% sales decline tracking into early FY25, and what assumptions underpin internal forecasts?

This briefing cannot assess management's internal turnaround plan, the underlying drivers of the Torpedo7 exit loss, or the trajectory of trading post-balance-date.