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It's a parody. Parodies are legally exempt, especially when they are political commentary.
Doesn't mean Walmart won't take them to court though - but I doubt it.
This. Parody is specifically protected from the various claims an IP holder might make; which is why Mad magazine for years made fun of popular movies of the time every month (do they still do this?). I read about it long ago, and there's weird rules because other forms of humor don't enjoy the same protections.