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In 1982, the discount pioneer John Geisse founded The Wholesale Club of Indianapolis, which he sold to Sam's Club (a division of Walmart) in 1991. [2] In 1983, James (Jim) Sinegal and Jeffrey H. Brotman opened the first Costco warehouse in Seattle. [3] [4] Sinegal had started in wholesale distribution by working for Sol Price at FedMart. [5]
Fleming Companies, Inc. was founded as Lux Mercantile in Topeka, Kansas, in 1915 by O. A. Fleming, Gene Wilson and Samuel Lux. [1] In 1921 the company's name was changed to Fleming-Wilson, and in 1941, the company name was changed again to The Fleming Company.
After leaving the wholesale business, they opened Service Merchandise, Inc., the first of what evolved into a chain of catalog showrooms. It opened in 1960 at 309 Broadway in downtown Nashville, Tennessee. [1] Older logo mainly used in the 1970s–1985. During the 1970s and 1980s, Service Merchandise was a leading catalog-showroom retailer.
Therefore, Price Club was originally positioned as a much larger, volume-oriented version of the cash-and-carry wholesale format, meaning that prospective members were required to present resale certificates or professional licenses. [5]
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Gift card for a U.S hardware store. A gift card, also known as a gift certificate in North America, or gift voucher or gift token in the UK, [1] is a prepaid stored-value money card, usually issued by a retailer or bank, to be used as an alternative to cash for purchases within a particular store or related businesses.
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