G.R. Kinney Company
Encyclopedia
G.R. Kinney Company was an American manufacturer and retailer of shoes from 1894 until September 16, 1998. Its listing on the New York Stock Exchange
, symbol KNN, began in March 1923. The shoe concern was started by
George Romanta Kinney whose father ran a general store
in rural Candor, New York
. The father became indebted and George vowed to repay his indebtedness in the future. In 1894, at the age of 28, he had saved enough to purchase a Lester retail outlet in Waverly, New York
. Kinney's success came in offering affordably priced shoes to working Americans.
The business chain numbered 362 stores at the conclusion of 1929, with 44 of these opening in the final year of the decade. Foot Locker
began as a division of the Kinney Shoe Corporation in 1974.
at the beginning of 1936, with 335 stores operating nationwide. Although it was selling more shoes at the conclusion of 1936 than in 1929, its dollar volume was 20% to 30% below 1929.
On August 31, 1963 the G.R. Kinney Company was sold to F.W. Woolworth. Prior to this it was a subsidiary of the Brown Shoe Company
which sold it for $45 million. The firm was renamed the Kinney Shoe Corporation and continued as a fully owned subsidiary of Woolworth. It retained its own eleven member board of directors and an existing panel of corporate officers.
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
, symbol KNN, began in March 1923. The shoe concern was started by
George Romanta Kinney whose father ran a general store
General store
A general store, general merchandise store, or village shop is a rural or small town store that carries a general line of merchandise. It carries a broad selection of merchandise, sometimes in a small space, where people from the town and surrounding rural areas come to purchase all their general...
in rural Candor, New York
Candor, New York
Candor is a town in Tioga County, New York, USA. The population was 5,317 at the 2000 census.The Town of Candor has a village named Candor. The town is south of Ithaca, New York.- History :...
. The father became indebted and George vowed to repay his indebtedness in the future. In 1894, at the age of 28, he had saved enough to purchase a Lester retail outlet in Waverly, New York
Waverly, New York
Waverly is the name of some places in the U.S. state of New York:*Waverly, Tioga County, New York, a village in New York's Southern Tier*Waverly, Franklin County, New York, a town in Northern New York...
. Kinney's success came in offering affordably priced shoes to working Americans.
The business chain numbered 362 stores at the conclusion of 1929, with 44 of these opening in the final year of the decade. Foot Locker
Foot Locker
Foot Locker, Inc. is an American sportswear and footwear retailer, with its headquarters in Midtown Manhattan, New York City, and operating in approximately 20 countries worldwide. Formerly known as Venator Group, Inc., it is the successor corporation to the F.W. Woolworth Company , and many of...
began as a division of the Kinney Shoe Corporation in 1974.
Chain and later a subsidiary
It was the largest family chain shoe retailer in the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
at the beginning of 1936, with 335 stores operating nationwide. Although it was selling more shoes at the conclusion of 1936 than in 1929, its dollar volume was 20% to 30% below 1929.
On August 31, 1963 the G.R. Kinney Company was sold to F.W. Woolworth. Prior to this it was a subsidiary of the Brown Shoe Company
Brown Shoe Company
Brown Shoe Company is a footwear company that owns a variety of footwear brands in the United States and Canada. Its headquarters is located in Clayton, Missouri, a suburb of St. Louis.-Origins:...
which sold it for $45 million. The firm was renamed the Kinney Shoe Corporation and continued as a fully owned subsidiary of Woolworth. It retained its own eleven member board of directors and an existing panel of corporate officers.
Foot Locker exclusivity
The company continued operating throughout the 1960s and 1970s with divisions named Stylco (1967), Susie Casuals (1968), and Foot Locker (1974). On September 16, 1998 the Venator Group announced that Kinney's 467 shoe stores and 103 Footquarters stores would close. The Foot Locker division, started in 1974, continues to this day, with Venator changing its name in 2001 to Foot Locker.External links
- G.R. Kinney Company history page