It does not make any sense at all.
First Wal-Mart shut down their fabrics departments.
Then buy JoAnn and send them a bunch of crap? Is this a consipiracty to kill the American creative spirit?
And like someone said....their stock holders would surely have had to vote and be informed about this. I too have looked at Snopes and can find no evidence. Rumor is just that. Rumor. GOSSIP!!!