Moving to the sidelines in Big Lots looked like a smart move about two months ago, but it wasn’t. What does Steve Cortes have to say for himself now?
El Capitan made the fateful call on August 26th – on the thesis that Big Lots would have trouble attracting shoppers.
“I don't like the low end of the retail market here,” he said, “because rising energy costs are putting a serious cramp on the low-end consumer.”
Unfortunately for Cortes, budget-conscious shopping was the new black this season with consumers focused on value. That trend sent shares of BIG up ‘big’ -- almost 10% since he said to step away.
So what does he have to say about this stock now? Get all the details in this web extra. Watch the video now!