1950s
FedCo was a nonprofit membership club open to federal employees, primarily postal workers, which FedMart cloned as a for-profit.
“Fedco, it turns out, was a nonprofit membership club.”
Topic
FedMart
5 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1954
Sol Price and partners opened the first FedMart in San Diego in November 1954.
“So in November 1954, they open the store in this warehouse location.”
1954
The first FedMart did about $3 million in sales in its first year, against an expectation of $1 million.
“The store does three million dollars in sales in 1954 in one year.”
1959
FedMart went public in 1959 and raised $2 million.
“So FedMart goes public in 1959. They raised $2 million.”
1970s
Sol Price sold control of FedMart to German retailer Hugo Mann, who then fired Price after a dispute.
“So they end up getting into bed with one of the German clones run by a retail entrepreneur named Hugo Mann.”
Episodes