 | |
| Company type | Discount store |
|---|---|
| Industry | Retail |
| Founded | 1954 in San Diego |
| Founder | Sol Price |
| Defunct | 1982 |
| Fate | Liquidation; many stores rebranded as Target |
| Headquarters | San Diego, California |
Number of locations |
|
Area served |
|
| Products | clothing, footwear, housewares, sporting goods, hardware, toys, electronics, food |
FedMart was a chain of discount department stores started by Sol Price, who later founded Price Club. Originally a discount department store open to government employees paying a $2 per family membership fee, FedMart earned four times more than its investors had projected in its first year. Over the next 20 years, FedMart grew to include 45 stores, mostly in California, and the Southwest[1] in a chain that generated over $300 million in annual sales. The business expanded to several states in the Southwest United States. Many stores were previous White Front or Two Guys locations. Price later sold two-thirds of the chain to Hugo Mann, a German retail chain, in 1975 and was forced out of his leadership position the following year. FedMart went out of business in 1982.[1]
- ^ a b Donovan, Bill (2018-03-08). "50 Years Ago: Fed Mart opens in Window Rock". Navajo Times. Retrieved 2022-06-06.