The Warehouse has increased its annual profit by 61% to nearly $145 million.
The company, which owns Warehouse Stationery and Noel Leemings, says the huge jump in profit was largely due to the sale of properties last year.
Stripping out those gains, profit rose 13% to $73.7 million in the 12 months ending 28 July. Sales increased by nearly 30% to just over $2.2 billion.
This was the first time the company's annual result includes the performance of Noel Leeming, which it bought in December.
The comany has been trying to re-shape itself for the last two years in a bid to halt declining sales and market share.
It has since built new and revamped stores, and bought several online retailers, as well as Noel Leemings, resulting in high profile brands being sold at The Warehouse and Warehouse Stationary.
Chief executive Mark Powell says the group is changing its name to TW Group, as the parent company becomes less about just the Red Sheds and more of an investment group representing lots of different brands.
The company says it is too early to provide an outlook for the current year, because it largely depends on Christmas trading but it is confident that profits will be higher.