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Price Club was a warehouse club chain founded by Sol Price in 1976 and merged with Costco in 1993. Learn about its origins, expansion, and transformation from a cash-and-carry wholesaler to a membership-based retailer.
A BJ's Wholesale club in Virginia. In 1976, Sol Price (who in 1954 founded FedMart, an early US discount store) and his son Robert Price founded Price Club in San Diego, as their first warehouse club. In a 1988 article, The New York Times Magazine credited Price Club as the "pioneer" of the warehouse club retail format. [1]
Costco is a multinational corporation that operates a chain of membership-only big-box stores selling bulk goods and merchandise. It was founded in 1983 and merged with Price Club in 1993, and now has over 890 warehouses worldwide.
FedMart was a discount store chain founded by Sol Price in 1954 in San Diego, California. It expanded to several states in the Southwest, but went out of business in 1982 after being sold to Hugo Mann.
National Stores acquired San Diego, California-based Factory 2-U Stores, Inc. when it filed for bankruptcy protection in February 2004 and arranged for the sale of 172 stores to National Stores. [9] In August 2004, Factory 2-U stores liquidated, receiving $28.5 million from the sale to Factory 2-U Liquidation LLC, a consortium headed by ...
Sol Price (1916-2009) was the creator of FedMart, Price Club (later Costco) and PriceSmart. He was a pioneer of the warehouse store retail model and a philanthropist who donated to education and urban development.
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