The largest single shareholder in Studio Retail Group, Mike Ashley's Frasers Group, has increased its stake.
The owner of brands such as Sports Direct and House of Fraser, has upped its holdings in the Lancashire-headquartered online retailer from 27.6% to 28.8%.
Other major shareholders in the listed company include Schroder Investment Management, Lombard Odier Asset Management and FIL Investment Advisors (UK).
The move comes after Studio Retail Group's share price slumped by more than 35% earlier this week after warning its profits are set to be lower than market expectations and is to raise its prices.
The group said its adjusted pre-tax profits for its full financial year are not likely to be between £28m and £30m, down from the current market expectation of £35m.
The business added that demand in the early weeks of January has been "relatively subdued, with some margin erosion as we cleared some seasonal stock that could not be carried forward".
It said that this has been partially mitigated through the bad debt performance, which was better than expected particularly due to improvements in the recovery rates achieved on defaulted debts.
