Wal-Mart Thanksgiving Traffic Down Slightly, According to MKM

In a note out from MKM Partners Friday morning regarding Wal-Mart (NYSE: WMT), MKM analyst Patrick McKeever wrote that Wal-Mart store traffic on Thanksgiving may have been down slightly vs. last year as deals were extended over a longer period of time.

McKeever commented in the note:

"WMT said more than 22m customers shopped on Thanksgiving Day; last year, WMT said traffic topped the 22m consumers it reported from 2012 WMT also didn't give some of the data it reported last year, incl. number of transactions over busiest 4-hour period TGT online sales appear positive, may shift sales from stores to e-commerce rather than adding to sales MKM recommends taking profits on both WMT, TGT Rates WMT neutral, PT $79"

Shares of Wal-Mart are trading higher by 3.12 percent at 87.63, perhaps on the heels of dramatically lower oil prices, which are known to benefit lower end retailers like Wal-Mart.