We don’t know. I have this on no less an authority than MIT professor Eduardo Kausel, who writes: ”...for reasons now lost to history, there exist different sizes for men, women, and children, although the latter do use the same number for any given size, whether boy or girl.¨
Here, though, is his explanation of how American sizes are calculated: “The American size of the shoe is three times the heel-to-toe length of the foot, measured in inches, minus a constant (what for?), so each half size increment is 1/6 of an inch (4.23 mm). The subtractive constant is 22 for men, 21 for women (or is it 20.5?), and 9.75 for children (9.67?), but the latter only up to size 13 1/2, after which another constant is used! For instance, a man’s foot that is 10.5” long requires an American shoe size 3×10.5 – 22 = 9.5.”