Big-Box Store Pioneer Passes

By Eric S. Page
|  Monday, Dec 14, 2009  |  Updated 1:29 PM PDT
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Big-Box Store Pioneer Passes

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Sol Price, a pioneer in warehouse marketing and founder of PriceSmart has died. He was 93.

PriceSmart announced the entrepreneur died Monday morning in San Diego.
     
Price, who graduated from San Diego State in 1934, founded Price Club in the 1970s and left the company after it merged with Costco Wholesale Corp. in 1993. He founded San Diego-based PriceSmart with his son, Robert. The company operates warehouse clubs in Central America and the Caribbean.

"I look for three I's in an employee: integrity, industry and intelligence; of the three, integrity is the most important," Price once said.
     
Price's philanthropic projects included low-income housing, Alzheimer's research and a program for high school students in memory of a grandson who died in 1989 after a battle with cancer.
 

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