Kinney Shoes
| Company type | Public (1923–1998) |
|---|---|
| Industry | Shoe manufacturing and retail |
| Founded | 1894 |
| Founder | George Romanta Kinney |
| Defunct | September 16, 1998 |
| Fate | Shutdown of shoe outlets; Foot Locker brand continued |
| Headquarters | Waverly, New York , United States |
Area served | United States |
| Products | Footwear |
| Parent | Brown Shoe Company (before 1963), F.W. Woolworth Company (1963–1998) |
The G.R. Kinney Company operated as a prominent American shoe manufacturer and retailer from its inception in 1894 until September 16, 1998. It became publicly traded on the New York Stock Exchange in March 1923 under the ticker symbol KNN. Established by George Romanta Kinney, who acquired a Lester retail store located in Waverly, New York, the enterprise thrived by providing cost-effective footwear tailored to working-class Americans.
By the close of 1929, the business managed a network of 362 outlets, including 44 new locations launched that year. Notably, Foot Locker was initially created as a segment of Kinney Shoe Corporation in 1974.
Chain and later a subsidiary
As of early 1936, Kinney Shoes had grown to be the largest family-owned shoe retail chain across the United States, boasting 335 stores nationwide. Although the volume of shoes sold surpassed that of 1929, the company’s revenue declined by approximately 20–30%.
On August 31, 1963, F.W. Woolworth acquired G.R. Kinney Company for $45 million; prior to this transaction, it had been under the ownership of Brown Shoe Company. Following the acquisition, it was renamed Kinney Shoe Corporation and operated as a wholly owned subsidiary of Woolworth with its own board comprising eleven members and dedicated corporate executives.
Foot Locker exclusivity
During the 1960s and 1970s, the corporation broadened its portfolio by introducing divisions such as Stylco in 1967, Susie Casuals in 1968, and Foot Locker in 1974. On September 16, 1998, the Venator Group (previously known as Woolworth) declared the shutdown of Kinney’s 467 shoe outlets alongside 103 Footquarters stores. The Foot Locker brand, launched in 1974, continues to operate actively, with Venator undergoing rebranding to become Foot Locker in 2001.