It looks like Home Depot dropped the price of Scotts Earthgro to $2.00 per 2 cu. ft. from the $2.50 it was posting at most stores last week.
From the Vigoro Memorial Day sale thread, people generally agreed that Earthgro is slightly better quality (yet not as good of quality as bulk) than the $2 Vigoro mulch. I don't know if this is location specific, but red, brown, and black are all posting $2 for me. Apparently this is YMMV. I have attached a screencap for my store posting $2: