NASCAR has signed a two-year extension of its licensing agreement with Wal-Mart, ensuring that the retailer will "continue to make and sell NASCAR-branded apparel and products in stores nationwide," according to Tripp Mickle of SPORTSBUSINESS JOURNAL. Since signing its initial agreement in '11, NASCAR merchandise sales at Wal-Mart "have increased steadily." Sales this year have "doubled from the same period a year ago." Wal-Mart as part of the agreement "plans to continue its 'Race Time' program, which brings a NASCAR theme to stores in Sprint Cup markets on race weekends." Wal-Mart stores in more than 20 cities nationwide "put showcars in front of stores and set up NASCAR-themed displays inside with products made by sponsors of the sport and its teams." In addition to its "Race Time" program, Wal-Mart has "invested marketing dollars at the track level the last three years." The brand also "signed on to be the title sponsor of the Pocono 400 last June." Wal-Mart "hasn’t announced any major marketing activities in NASCAR this year," but NASCAR VP/Licensing & Consumer Products Blake Davidson said that the company "continues to look at opportunities in the sport" (SPORTSBUSINESS JOURNAL, 3/17 issue).
