Wal-Mart Stores Inc. (WMT) named Saatchi & Saatchi X, Springdale, Ark., its in-store marketing agency for shopper and employee communications “agency of record.”

The Bentonville, Ark., retail giant said it was pleased with Saatchi’s work as its “in-store innovation partner” and believe as an “agency of record” it will achieve “even greater results.” Wal-Mart said the service isn’t a direct component of its ongoing agency review.

Some have already noted that this COULD mean that Saatchi got the consolation prize, meaning they are out of the main account review leaving only Omnicom Group’s GSD&M in Austin, Texas; Publicis Groupe’s Saatchi & Saatchi in New York; WPP Group’s Ogilvy & Mather in New York; and Interpublic Group’s Draft FCB Group in Chicago; and The Martin Agency in Richmond, Va.

We still want to point out that none of the Agencies that are bidding even rank for ‘Ad Agency’ in Google, leading one to wonder if they do such a poor job on SEO for their own site, what are they going to do for Walmart.Com ?