CALERES INC — Director's Dealing 2007

Jun 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-06-04

Reporting Person: Wilson-Gray Sheri (SVP & Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-04	Common Stock	A	5000	$29.37	Acquired	5000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-04	Employee Stock Option (Right to Buy)	$29.37	A	7500	Acquired	2017-06-04	Common Stock (7500)	Direct

Footnotes

F1: Restricted stock vests at 100% after 4 years.

F2: The options become exercisable in four equal installments beginning June 4, 2008.