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Costco membership card from Iceland. Costco's earliest predecessor, Price Club, opened its first store on July 12, 1976, on Morena Boulevard in San Diego, California.It was founded three months earlier by Sol Price and his son, Robert, following a dispute with the new owners of FedMart, Price's previous membership-only discount store. [16]
Price and several friends invested $2.5 million to establish Price Club. The first Price Club location opened on July 12, 1976, [2] in San Diego, at the former site of a manufacturing building previously owned by Howard Hughes. [3] [4] The original Price Club location is now a Costco
Sinegal was born January 1, 1936, into a Catholic working-class family in Pittsburgh, Pennsylvania.He attended St. Lawrence O'Toole primary school, Central Catholic High School (Pittsburgh), and Helix High School in La Mesa, California, [2] and he earned an AA at San Diego City College in 1955. [2]
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The family relocated to San Diego in the early 1920s. Price graduated from San Diego High School in 1931, attended San Diego State University in 1932, and earned his undergraduate degree (in philosophy) and Juris Doctor degrees from the University of Southern California in 1936 and 1938, respectively.