History
Sol Price founded FedMart in 1954, an early US discount store. Sol and his son Robert Price founded Price Club in San Diego in 1976 as the first warehouse club. In 1982 discount pioneer John F. Geisse founded The Wholesale Club of Indianapolis, which he sold to Sam's Club in 1991.
In 1983, Costco Wholesale, PACE Wholesale Club and Sam's Club started operations. BJ's Wholesale Club was started in 1984 by former The Wholesale Club executives and owned by Zayre.
As of 2010, four warehouse club chains operate in the United States. Costco and Sam's Club are the largest chains. Sam's Club, a division of Wal-Mart, claims a membership base of 47 million persons and 602 stores across the United States. Costco has locations in seven other nations including Canada, Mexico, the United Kingdom, Japan, Korea, Taiwan and Australia. BJ's Wholesale Club is one of two smaller competitors with stores located primarily in the Eastern United States. FedMart has survived as a small company owned by West Coast enterpriser Donald L. Kirk. In January 2009, Kirk announced plans to again expand FedMart; opening two new FedMart stores in 2009, in currently vacant former department store buildings; as well as opening an online FedMart Clearance/Closeout store.
Read more about this topic: Warehouse Club
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