CALERES INC — Director's Dealing 2007

Mar 14, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-03-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-13	Common Stock	M	9000	$13.2917	Acquired	48677	Direct
2007-03-13	Common Stock	M	1163	$7.1458	Acquired	49840	Direct
2007-03-13	Common Stock	M	15000	$12.0633	Acquired	64840	Direct
2007-03-13	Common Stock	F	3856	$46.915	Disposed	60984	Direct
2007-03-13	Common Stock	S	100	$46.63	Disposed	60884	Direct
2007-03-13	Common Stock	S	400	$46.64	Disposed	60484	Direct
2007-03-13	Common Stock	S	100	$46.69	Disposed	60384	Direct
2007-03-13	Common Stock	S	500	$46.7	Disposed	59884	Direct
2007-03-13	Common Stock	S	700	$46.71	Disposed	59184	Direct
2007-03-13	Common Stock	S	900	$46.72	Disposed	58284	Direct
2007-03-13	Common Stock	S	400	$46.73	Disposed	57884	Direct
2007-03-13	Common Stock	S	100	$46.74	Disposed	57784	Direct
2007-03-13	Common Stock	S	300	$46.75	Disposed	57484	Direct
2007-03-13	Common Stock	S	100	$46.76	Disposed	57384	Direct
2007-03-13	Common Stock	S	200	$46.77	Disposed	57184	Direct
2007-03-13	Common Stock	S	148	$46.78	Disposed	57036	Direct
2007-03-13	Common Stock	S	400	$46.79	Disposed	56636	Direct
2007-03-13	Common Stock	S	500	$46.8	Disposed	56136	Direct
2007-03-13	Common Stock	S	500	$46.81	Disposed	55636	Direct
2007-03-13	Common Stock	S	300	$46.82	Disposed	55336	Direct
2007-03-13	Common Stock	S	700	$46.85	Disposed	54636	Direct
2007-03-13	Common Stock	S	100	$46.87	Disposed	54536	Direct
2007-03-13	Common Stock	S	300	$46.88	Disposed	54236	Direct
2007-03-13	Common Stock	S	500	$46.89	Disposed	53736	Direct
2007-03-13	Common Stock	S	3000	$46.9	Disposed	50736	Direct
2007-03-13	Common Stock	S	252	$46.91	Disposed	50484	Direct
2007-03-13	Common Stock	S	400	$46.92	Disposed	50084	Direct
2007-03-13	Common Stock	S	600	$46.95	Disposed	49484	Direct
2007-03-13	Common Stock	S	200	$46.96	Disposed	49284	Direct
2007-03-13	Common Stock	S	2100	$46.99	Disposed	47184	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-13	Employee Stock Option (Right to Buy)	$13.2917	M	9000	Disposed	2009-05-27	Common Stock (9000)	Direct
2007-03-13	Employee Stock Option (Right to Buy)	$7.1458	M	1163	Disposed	2010-03-02	Common Stock (1163)	Direct
2007-03-13	Employee Stock Option (Right to Buy)	$12.0633	M	15000	Disposed	2012-03-06	Common Stock (15000)	Direct

Footnotes

F1: Includes 3,086 shares held indirectly by the 401(k) Plan.

F2: The options vested in four equal installments on May 27, 2000, 2001, 2002, and 2003.

F3: The options vested in four equal installments on March 2, 2001, 2002, 2003, and 2004.

F4: The options vested in four equal installments on March 6, 2003, 2004, 2005, and 2006.