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SAN DIEGO — Sol Price, the founder of Price Club who helped pioneer the warehouse superstore sales model that grew into a multibillion-dollar industry, died Monday at his home in La Jolla. He was 93.
Price was working as a lawyer in San Diego in 1954 when he founded FedMart, a discount department store open to government employees for a membership fee of $2 a family. After the firm was sold in 1976, Price and his son Robert founded Price Club.
At its peak in 1992, there were 94 Price Club stores in the United States, Canada and Mexico, doing $6.6 billion in business. Price Club merged with Costco in 1993.
