Price Club Founder Sol Price, 93
Sol Price, the founder of Fed-Mart and Price Club, died Dec. 14 at his home in La Jolla after being in poor health for several years. Price pioneered the big-box retail business beginning in 1954, when he opened Fed-Mart, which was inspired by Los Angeles–based Fedco, a retailer that sold discounted goods to government employees. Fed-Mart grew to 41 stores located throughout the Southwest. His next endeavor, Price Club, opened in 1976 and eventually merged with Costco in 1993. Price went on to found PriceSmart Inc. with his son Robert. The company has 26 stores in the Caribbean and Central America.
