Seems like a great deal for a Shimano rod, considering most of these go for over $50 anyway. For some reason they took down mention of the offer on the search page (possibly because its only an instore deal), but you can get an idea of the rods available here. Might be best to call ahead to check for availability before going in.
You could also combine it with this deal for a $30 Shimano Sienna reel, and be ready to go with a good setup.
Update: the $50 purchase is for reels only in some stores, not fishing supplies in general.