CALERES INC — Director's Dealing 2006

Jan 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-01-05

Reporting Person: SCHUMACHER RICHARD C (SVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-05	Common Stock	M	7000	$14.4375	Acquired	27151	Direct
2006-01-05	Common Stock	F	2388	$42.315	Disposed	24763	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-05	Employee Stock Option (right to buy)	$14.4375	M	7000	Disposed	2006-01-11	Common Stock (7000)	Direct

Footnotes

F1: Includes 5,362 shares held indirectly by the 401(k) Plan.

F2: The option vested in four equal installments on January 11, 1997, 1998, 1999 and 2000.