NEW YORK (TheStreet) -- Shares of Walmart Stores Inc. (WMT) are down by 1.95% to $85.83 at the start of trading on Monday, as data from the National Retail Federation showed a decline in total Black Friday weekend sales, the Los Angeles Times reports.
Shopping traffic from Thanksgiving Day through Sunday dropped by 5.2% to 133.7 million unique visitors, compared to 141.1 million for last year's holiday weekend, the Times added.
Analysts are attributing the decline in sales over the weekend to "earlier-than- ever bargains," as some retailers such as Walmart and Target (TGT) offered online holiday deals weeks before Thanksgiving, the Times said.
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"With the Internet open 24/7, that's taken some of the luster off of Black Friday. It's not make or break anymore," a Moody's Investor Service analyst told the Times.
Shares of Target are also down by 2.07% to $72.47 this morning.
Separately, TheStreet Ratings team rates WAL-MART STORES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WAL-MART STORES INC (WMT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year, growth in earnings per share and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."