I'm no accountant but the depreciation does not solely relate to fitouts. Note 34 in the annual report notes the majority of deprecation ($15 mil) relates to 'right of use assets' i.e. leases - rather than fitouts.
Note 20 shows that DSK actually paid $17.551 million in the 2023 FY year in lease payments.
Note 20 then shows that $19.248 million was included in the P&L in relation to the leases. I'm not 100% across the accounting here and why there is a difference of $1.7 million - however they are roughly similar.
My conclusion is that you cannot simply ignore the deprecation of $15,140 - this is not depreciation of their store fitouts but rather the value of the lease 'assets' that they hold.
DSK SP $3 - what would it take?, page-11
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