CALERES INC - Director's Dealing 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-03-20

Reporting Person: WOOD JOSEPH W (President, Famous Footwear)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-20	Common Stock	M	26326	$10.1333	Acquired	62468	Direct
2007-03-20	Common Stock	M	5865	$17.05	Acquired	68333	Direct
2007-03-20	Common Stock	F	8275	$44.315	Disposed	60058	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-20	Employee Stock Option (Right to Buy)	$10.1333	M	26326	Disposed	2012-02-07	Common Stock (26326)	Direct
2007-03-20	Employee Stock Option (Right to Buy)	$17.05	M	5865	Disposed	2013-03-06	Common Stock (5865)	Direct

F1: Includes 1,433 shares held indirectly by the 401(k) Plan.

F2: The options vested in four equal installments on February 7, 2003, 2004, 2005, and 2006.

F3: The options vested in four equal installments on March 6, 2004, 2005, 2006, and 2007.