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Sol Price (January 23, 1916 – December 14, 2009) was an American retailer and the founder of FedMart, Price Club (which ultimately merged into Costco) and PriceSmart. [1] He was considered the "father" of the " warehouse store " retail model.
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Price Club was founded by Sol Price in 1975 after he was forced out of FedMart, another retail chain he had founded. Price and several friends invested $2.5 million to establish Price Club. The first Price Club location opened on July 12, 1976, [2] in San Diego, at the former site of a manufacturing building previously owned by Howard Hughes ...
FedMart was a chain of discount department stores started by Sol Price, who later founded Price Club.Originally a discount department store open to government employees paying a $2 per family membership fee, FedMart earned four times more than its investors had projected in its first year.
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Sol Price, the founder of America's first warehouse store, died at his home in La Jolla, Calif. Monday. He was 93. It's hard to overestimate Price's impact on American retail.
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Price Club founded by Sol and Robert Price 1993 The Price Co. and Costco Wholesale Club merge, forming Price/Costco Inc (later renamed Costco Wholesale Corporation) 1994 Price Enterprises Inc spun off from Price/Costco Robert Price named chairman, president and CEO of Price Enterprises