RETAILING
From Times Staff and Wire Reports
Price / Costco to Spin Off Unit: Citing philosophical differences that arose from the merger of Price Co. and Costco, Price / Costco Inc. said it plans to spin off a variety of operations and assets as a new company. The new company, for now called Newco, is to include Price / Costco’s commercial real estate operations, a majority stake in Price / Costco’s Mexico operations and in its Quest Electronic Catalogue, and other assets. Newco would have Price / Costco Chairman Robert Price as its chief executive.
