Retailer locked and loaded for more growth.

Despite annual sales of around $2 billion, Officeworks is hungry for more.

"At the moment, we're a bit less than 10 per cent of a $20 billion market and I think with a pretty focused approach on our core growth strategies, we can be a lot bigger than 10 per cent," Officeworks managing director Sarah Hunter (pictured) said.

"We're about the quality of long-term returns to shareholders, and that has to come with growth," she said.

Speaking to Fairfax Media on the anniversary of her first 12 months in the top job, Hunter said that parent Wesfarmers had no plans for spinning off Officeworks as a separate business.

"As long as we're performing above our market and we're generating good returns for shareholders, why would [Wesfarmers] want anyone else to get that growth and that return?" she said. "But if businesses aren't delivering that return within the portfolio over the long term, then of course, Wesfarmers will] be looking at other ways they can crystallise that value for shareholders, whether that be an IPO or trade sale or demerger."

New workplace agreement

Meantime, an agreement introducing higher pay, penalty rates and new leave entitlements for more than 6000 Officeworks employees was approved by the Fair Work Commission last week.

The new agreement will award eligible team members with a two per cent wage increase for the first two years, and a three per cent increase for the last two years; higher penalty rates on weekends and evenings; two days of paid domestic and family violence leave, should they ever need it; and their choice of superannuation fund.