Yes. The way I heard it is that they are going "back to basics" or something like that because their attempt at merchandising for a more upscale market failed.
"Upscale?" Walmart wasn't, isn't, or ever going to be upscale. The dopes in charge thought that catering to the libs regarding dropping the sale of "scary guns" was going to attract more "liberal upscale" shoppers. What they forgot was that most of the Wally marts are located in conservative blue collar areas. Their customer base is geared more toward fairly good quality, inexpensive items.
I had a lot more respect for Walmart management when they refused to sell Cheryl Crow's 2nd CD (back in 1996) because of a song on the CD, criticizing
Walmarts' gun sales policy. Cheryl Crow complained
that Walmart was censoring her right to protest Walmarts gun sales policy
, Walmarts answer was
if you want us to sell your CD's don't bite the hand that feeds you, or something to the respect.
Needless to say Cheryl Crow lost a lot of CD sales
(Walmart is the top retailer of CD's in the US). Bet she learned to think before she opened her mouth again.