CALERES INC — Director's Dealing 2007

Mar 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-03-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-14	Common Stock	M	30000	$17.05	Acquired	298546	Direct
2007-03-14	Common Stock	S	1000	$45	Disposed	297546	Direct
2007-03-14	Common Stock	S	200	$45.01	Disposed	297346	Direct
2007-03-14	Common Stock	S	400	$45.03	Disposed	296946	Direct
2007-03-14	Common Stock	S	600	$45.04	Disposed	296346	Direct
2007-03-14	Common Stock	S	300	$45.07	Disposed	296046	Direct
2007-03-14	Common Stock	S	500	$45.08	Disposed	295546	Direct
2007-03-14	Common Stock	S	1200	$45.09	Disposed	294346	Direct
2007-03-14	Common Stock	S	2700	$45.1	Disposed	291646	Direct
2007-03-14	Common Stock	S	800	$45.11	Disposed	290846	Direct
2007-03-14	Common Stock	S	600	$45.12	Disposed	290246	Direct
2007-03-14	Common Stock	S	100	$45.13	Disposed	290146	Direct
2007-03-14	Common Stock	S	200	$45.14	Disposed	289946	Direct
2007-03-14	Common Stock	S	800	$45.15	Disposed	289146	Direct
2007-03-14	Common Stock	S	100	$45.16	Disposed	289046	Direct
2007-03-14	Common Stock	S	1500	$45.17	Disposed	287546	Direct
2007-03-14	Common Stock	S	500	$45.2	Disposed	287046	Direct
2007-03-14	Common Stock	S	100	$45.21	Disposed	286946	Direct
2007-03-14	Common Stock	S	300	$45.22	Disposed	286646	Direct
2007-03-14	Common Stock	S	100	$45.23	Disposed	286546	Direct
2007-03-14	Common Stock	S	800	$45.24	Disposed	285746	Direct
2007-03-14	Common Stock	S	600	$45.25	Disposed	285146	Direct
2007-03-14	Common Stock	S	700	$45.26	Disposed	284446	Direct
2007-03-14	Common Stock	S	600	$45.27	Disposed	283846	Direct
2007-03-14	Common Stock	S	700	$45.28	Disposed	283146	Direct
2007-03-14	Common Stock	S	2100	$45.29	Disposed	281046	Direct
2007-03-14	Common Stock	S	2500	$45.3	Disposed	278546	Direct
2007-03-14	Common Stock	S	2300	$45.31	Disposed	276246	Direct
2007-03-14	Common Stock	S	900	$45.32	Disposed	275346	Direct
2007-03-14	Common Stock	S	600	$45.34	Disposed	274746	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-14	Employee Stock Right (Right to Buy)	$17.05	M	30000	Disposed	2013-03-06	Common Stock (30000)	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.