CALERES INC — Director's Dealing 2007

Mar 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-03-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-15	Common Stock	M	22500	$26.0067	Acquired	291046	Direct
2007-03-15	Common Stock	S	400	$45.42	Disposed	290646	Direct
2007-03-15	Common Stock	S	100	$45.44	Disposed	290546	Direct
2007-03-15	Common Stock	S	200	$45.45	Disposed	290346	Direct
2007-03-15	Common Stock	S	200	$45.47	Disposed	290146	Direct
2007-03-15	Common Stock	S	600	$45.48	Disposed	289546	Direct
2007-03-15	Common Stock	S	200	$45.49	Disposed	289346	Direct
2007-03-15	Common Stock	S	1800	$45.5	Disposed	287546	Direct
2007-03-15	Common Stock	S	900	$45.51	Disposed	286646	Direct
2007-03-15	Common Stock	S	1237	$45.52	Disposed	285409	Direct
2007-03-15	Common Stock	S	700	$45.53	Disposed	284709	Direct
2007-03-15	Common Stock	S	300	$45.54	Disposed	284409	Direct
2007-03-15	Common Stock	S	2400	$45.55	Disposed	282009	Direct
2007-03-15	Common Stock	S	963	$45.56	Disposed	281046	Direct
2007-03-15	Common Stock	S	400	$45.57	Disposed	280646	Direct
2007-03-15	Common Stock	S	2400	$45.58	Disposed	278246	Direct
2007-03-15	Common Stock	S	800	$45.59	Disposed	277446	Direct
2007-03-15	Common Stock	S	534	$45.6	Disposed	276912	Direct
2007-03-15	Common Stock	S	1800	$45.61	Disposed	275112	Direct
2007-03-15	Common Stock	S	500	$45.62	Disposed	274612	Direct
2007-03-15	Common Stock	S	466	$45.63	Disposed	274146	Direct
2007-03-15	Common Stock	S	500	$45.64	Disposed	273646	Direct
2007-03-15	Common Stock	S	200	$45.66	Disposed	273446	Direct
2007-03-15	Common Stock	S	200	$45.67	Disposed	273246	Direct
2007-03-15	Common Stock	S	300	$45.68	Disposed	272946	Direct
2007-03-15	Common Stock	S	200	$45.69	Disposed	272746	Direct
2007-03-15	Common Stock	S	4100	$46	Disposed	268646	Direct
2007-03-15	Common Stock	S	100	$46.03	Disposed	268546	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-15	Employee Stock Option (Right to buy)	$26.0067	M	22500	Disposed	2014-03-04	Common Stock (22500)	Direct

Footnotes

F1: Includes 7,948 shares held indirectly by 401(k) Plan.

F2: The options vest in four equal installments beginning March 4, 2005.