CALERES INC — Director's Dealing 2006

Mar 8, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-03-03

Reporting Person: RICH GARY M (President,Brown Shoe Wholesale)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-03	Common Stock	M	8000	$16.875	Acquired	49832	Direct
2006-03-03	Common Stock	F	3542	$47.585	Disposed	46290	Direct
2006-03-03	Common Stock	S	31.45	$47.92	Disposed	46259	Direct
2006-03-03	Common Stock	S	78.62	$47.9	Disposed	46180	Direct
2006-03-03	Common Stock	S	39.31	$47.89	Disposed	46141	Direct
2006-03-03	Common Stock	S	15.72	$47.88	Disposed	46125	Direct
2006-03-03	Common Stock	S	15.72	$47.86	Disposed	46109	Direct
2006-03-03	Common Stock	S	15.72	$47.85	Disposed	46093	Direct
2006-03-03	Common Stock	S	220.14	$47.8	Disposed	45873	Direct
2006-03-03	Common Stock	S	47.17	$47.76	Disposed	45826	Direct
2006-03-03	Common Stock	S	47.17	$47.75	Disposed	45779	Direct
2006-03-03	Common Stock	S	62.9	$47.74	Disposed	45716	Direct
2006-03-03	Common Stock	S	31.45	$47.73	Disposed	45685	Direct
2006-03-03	Common Stock	S	47.17	$47.71	Disposed	45637	Direct
2006-03-03	Common Stock	S	307.45	$47.7	Disposed	45330	Direct
2006-03-03	Common Stock	M	4301	$16.5	Acquired	49631	Direct
2006-03-03	Common Stock	F	2072	$47.585	Disposed	47559	Direct
2006-03-03	Common Stock	S	101.38	$47.7	Disposed	47458	Direct
2006-03-03	Common Stock	S	110.07	$47.66	Disposed	47348	Direct
2006-03-03	Common Stock	S	172.97	$47.65	Disposed	47175	Direct
2006-03-03	Common Stock	S	47.17	$47.58	Disposed	47127	Direct
2006-03-03	Common Stock	S	15.72	$47.56	Disposed	47112	Direct
2006-03-03	Common Stock	S	110.07	$47.53	Disposed	47002	Direct
2006-03-03	Common Stock	S	125.79	$47.51	Disposed	46876	Direct
2006-03-03	Common Stock	S	107.83	$47.5	Disposed	46768	Direct
2006-03-03	Common Stock	M	2829	$14.1875	Acquired	49597	Direct
2006-03-03	Common Stock	F	1685	$47.585	Disposed	47912	Direct
2006-03-03	Common Stock	S	190.93	$47.5	Disposed	47721	Direct
2006-03-03	Common Stock	S	94.35	$47.48	Disposed	47627	Direct
2006-03-03	Common Stock	S	47.17	$47.43	Disposed	47580	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-03	Common Stock	$16.875	M	8000	Disposed	2006-05-23	Common Stock (8000)	Direct
2006-03-03	Common Stock	$16.5	M	4301	Disposed	2007-03-06	Common Stock (4301)	Direct
2006-03-03	Common Stock	$14.1875	M	2829	Disposed	2008-01-07	Common Stock (2829)	Direct

Footnotes

F1: Includes 4,910 shares held indirectly by the 401(k) Plan.

F2: The option vested in four equal installments on May 23, 1997, 1998, 1999, 2000.

F3: The options vested in four equal installments on March 6, 1998, 1999, 2000, 2001.

F4: The options vested in four equal installments on January 7, 1999, 2000, 2001, 2002.