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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.
He served as Costco's president and CEO from 1983 until 2011. As CEO of Costco, Sinegal was known for his hands-on humanitarian approach to business, which he learned from his mentor, Sol Price. He prioritised customer and employee satisfaction over shareholder interests and is also known for his philanthropic efforts.
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. The warehouse store ...
In November 2011, the Price Family Charitable Fund gave a $50 million naming gift to honor the life and legacy of USC alumnus Sol Price, founder of Price Club. [12] The school was renamed the USC Sol Price School of Public Policy with the shortened name of USC Price. [3]
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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.
He was the Chair of the Department on Governance, Management and the Policy Process at the Sol Price School of Public Policy at the University of Southern California from 2012 to 2017. In 2020, Bostic wrote an essay for the FRB Atlanta entitled, "A Moral and Economic Imperative to End Racism."