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: FROMM RONALD A (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-13	Common Stock	M	39135	$17.05	Acquired	307681	Direct
2007-03-13	Common Stock	S	5500	$46.25	Disposed	302181	Direct
2007-03-13	Common Stock	S	100	$46.26	Disposed	302081	Direct
2007-03-13	Common Stock	S	1600	$46.27	Disposed	300481	Direct
2007-03-13	Common Stock	S	1900	$46.28	Disposed	298581	Direct
2007-03-13	Common Stock	S	1200	$46.29	Disposed	297381	Direct
2007-03-13	Common Stock	S	500	$46.3	Disposed	296881	Direct
2007-03-13	Common Stock	S	1900	$46.31	Disposed	294981	Direct
2007-03-13	Common Stock	S	700	$46.32	Disposed	294281	Direct
2007-03-13	Common Stock	S	100	$46.34	Disposed	294181	Direct
2007-03-13	Common Stock	S	500	$46.35	Disposed	293681	Direct
2007-03-13	Common Stock	S	1000	$46.37	Disposed	292681	Direct
2007-03-13	Common Stock	S	800	$46.38	Disposed	291881	Direct
2007-03-13	Common Stock	S	300	$46.39	Disposed	291581	Direct
2007-03-13	Common Stock	S	300	$46.4	Disposed	291281	Direct
2007-03-13	Common Stock	S	200	$46.41	Disposed	291081	Direct
2007-03-13	Common Stock	S	100	$46.42	Disposed	290981	Direct
2007-03-13	Common Stock	S	200	$46.43	Disposed	290781	Direct
2007-03-13	Common Stock	S	900	$46.44	Disposed	289881	Direct
2007-03-13	Common Stock	S	1500	$46.45	Disposed	288381	Direct
2007-03-13	Common Stock	S	1500	$46.46	Disposed	286881	Direct
2007-03-13	Common Stock	S	1600	$46.48	Disposed	285281	Direct
2007-03-13	Common Stock	S	3000	$46.79	Disposed	282281	Direct
2007-03-13	Common Stock	S	1700	$46.5	Disposed	280581	Direct
2007-03-13	Common Stock	S	1335	$46.51	Disposed	279246	Direct
2007-03-13	Common Stock	S	700	$46.52	Disposed	278546	Direct
2007-03-13	Common Stock	S	600	$46.53	Disposed	277946	Direct
2007-03-13	Common Stock	S	700	$46.54	Disposed	277246	Direct
2007-03-13	Common Stock	S	900	$46.55	Disposed	276346	Direct
2007-03-13	Common Stock	S	600	$46.56	Disposed	275746	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-13	Employee Stock Option (Right to Buy)	$17.05	M	39135	Disposed	2013-03-06	Common Stock (39135)	Direct

Footnotes

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

F2: The options vested in four equal installments on March 6, 2004, 2005, 2006 and 2007.