The Warehouse forced back to basics

The Warehouse's now former boss Nick Grayston, jargoning to the end. (Image: The Warehouse)

Mon, 20 May 2024

Late on Friday, at a time most inconvenient to investors, The Warehouse chief executive Nick Grayston quit. When he started at the retailer in 2016, The Warehouse shares were trading at about $2.60. On Monday, they were trading at $1.23. The company achieved record sales in the last year. But profit plummeted. Its outlook is now grim, warning its second-half performance could be worse than its first. It sold the Torpedo7 business for $1. It junked its multi-million-dollar investment in its e-commerce third-party player, The...

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