American retail entrepreneur who founded FedMart and then Price Club — pioneering the membership warehouse club concept — and who was explicitly acknowledged by Sam Walton as the person he most studied and copied in building Sam's Club.
Invented the membership warehouse club model — pay an annual fee for access to deeply discounted merchandise in large quantities — which created a fundamentally different retail incentive structure: the store profits primarily from membership fees, not merchandise markup, aligning the store's interests perfectly with offering the lowest possible prices.
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