The Warehouse Group will repay its $68 million wage subsidy.
The group - which includes retailers such as The Warehouse, The Warehouse Stationery, Noel Leeming and Torpedo 7 - claimed the money back in April as the lockdowns slashed its earnings.
The group came under fire from unions, commentators and some politicians for taking the money and then proceeding to cut as many as 750 jobs.
Group chief executive Nick Grayston said sales were up by about 6.5 percent for the year to date and it expected it's half-year profit to be up by more than 50 percent on last year.
He said the company was now in a position to repay the subsidy in full.