CALERES INC — Director's Dealing 2006

Jan 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-01-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-03	Common Stock	M	10000	$14.4375	Acquired	42191	Direct
2006-01-03	Common Stock	F	3415	$42.275	Disposed	38776	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-03	Employee Stock Option (right to buy)	$14.4375	M	10000	Disposed	2006-01-11	Common Stock (10000)	Direct

Footnotes

F1: Includes 4,854 shares held indirectly by 401(k) Plan.