Well, its not like Target is abandoning GL altogether, just some of the stuff. The stuff that is more closely tied to the movie (role play blasters, ring slingers, mask) and the classicall-mistreated-by-Target (12" figures, 7" figures) are being dumped since the movie tanked.
The 3.75" stuff that may have some longer life (the basic line, the deluxe line, and Target's exclusive light-up stuff) are all in the new reset planogram and will be sticking around a little while longer at least. In fact, there is even some new GL movie stuff hitting for the 3.75" scale = a nifty jet plane construct for GL and a few other construct related packs.