Kinney, Footquarters Stores Closing Down

Thu., Sept. 17, 1998

From Staff

Just 14 months after closing its struggling Woolworth dime stores, Venator Group Inc. took another step Wednesday to restructure its ailing business by shutting down its 570 Kinney and Footquarters stores.

Details about Spokane stores were unavailable Wednesday.

The move will allow the troubled retailer to shed some unprofitable units that are dragging down sales and profits, and dedicate more energy to its core athletic sportswear and footwear chains.

Analysts, however, weren’t convinced that the restructuring would be enough to revive Venator.

“It is a last ditch effort to save a faltering company,” said Kurt Barnard, a retail consultant and president of Barnard’s Retail Trend Report in Upper Montclair, N.J.

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Kinney, Footquarters Stores Closing Down

Jesse Tinsley

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