CALERES INC — Director's Dealing 2007

Jul 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-07-02

Reporting Person: FROMM RONALD A (Director, Chairman of the Board & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-02	Common Stock	M	15000	$4.7639	Acquired	418143	Direct
2007-07-02	Common Stock	S	200	$24.69	Disposed	417943	Direct
2007-07-02	Common Stock	S	400	$24.68	Disposed	417543	Direct
2007-07-02	Common Stock	S	100	$24.62	Disposed	417443	Direct
2007-07-02	Common Stock	S	200	$24.6	Disposed	417243	Direct
2007-07-02	Common Stock	S	300	$24.59	Disposed	416943	Direct
2007-07-02	Common Stock	S	200	$24.56	Disposed	416743	Direct
2007-07-02	Common Stock	S	200	$24.55	Disposed	416543	Direct
2007-07-02	Common Stock	S	400	$24.54	Disposed	416143	Direct
2007-07-02	Common Stock	S	300	$24.53	Disposed	415843	Direct
2007-07-02	Common Stock	S	400	$24.52	Disposed	415443	Direct
2007-07-02	Common Stock	S	200	$24.51	Disposed	415243	Direct
2007-07-02	Common Stock	S	600	$24.5	Disposed	414643	Direct
2007-07-02	Common Stock	S	100	$24.49	Disposed	414543	Direct
2007-07-02	Common Stock	S	800	$24.47	Disposed	413743	Direct
2007-07-02	Common Stock	S	100	$24.46	Disposed	413643	Direct
2007-07-02	Common Stock	S	1200	$24.45	Disposed	412443	Direct
2007-07-02	Common Stock	S	700	$24.44	Disposed	411743	Direct
2007-07-02	Common Stock	S	2100	$24.43	Disposed	409643	Direct
2007-07-02	Common Stock	S	900	$24.42	Disposed	408743	Direct
2007-07-02	Common Stock	S	200	$24.41	Disposed	408543	Direct
2007-07-02	Common Stock	S	800	$24.4	Disposed	407743	Direct
2007-07-02	Common Stock	S	1000	$24.39	Disposed	406743	Direct
2007-07-02	Common Stock	S	1000	$24.38	Disposed	405743	Direct
2007-07-02	Common Stock	S	700	$24.37	Disposed	405043	Direct
2007-07-02	Common Stock	S	800	$24.36	Disposed	403243	Direct
2007-07-02	Common Stock	S	200	$24.35	Disposed	404043	Direct
2007-07-02	Common Stock	S	300	$24.33	Disposed	403743	Direct
2007-07-02	Common Stock	S	300	$24.32	Disposed	403443	Direct
2007-07-02	Common Stock	S	300	$24.31	Disposed	403143	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-02	Employee Stock Option (Right to Buy)	$4.7639	M	15000	Disposed	2010-03-02	Common Stock (15000)	Direct

Footnotes

F1: Includes 12,240 shares held indirectly by the 401(k) Plan.

F2: The options vested in four equal installments on March 2, 2001, 2002, 2003, and 2004.