CALERES INC — Director's Dealing 2007

Dec 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-11-29

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-29	Common Stock	M	5625	$11.3667	Acquired	70018	Direct
2007-11-29	Common Stock	M	3262	$14.9133	Acquired	73280	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-29	Employee Stock Option (right to buy)	$11.3667	M	5625	Acquired	2013-03-06	Common Stock (5625)	Direct
2007-11-29	Employee Stock Option (right to buy)	$14.9133	M	3262	Acquired	2015-03-06	Common Stock (3262)	Direct

Footnotes

F1: Includes 4,995 shares held indirectly by the 401(k) Plan.

F2: The options vested in four equal installments on March 6, 2004, 2005, 2006, and 2007.

F3: The options vest in four equal installments beginning March 3, 2006.