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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">As
      filed
      with the Securities and Exchange Commission on December 11, 2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registration
      No.
      333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 467.4pt;"></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Washington,
      D.C. 20549</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      S-8</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>REGISTRATION
      STATEMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNDER</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>THE
      SECURITIES ACT OF 1933</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Brown
      Shoe Company, Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Exact
      name of registrant as specified in its charter)</font></div>
    <div>&#160;</div>
    <div><br>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="90%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr bgcolor="white">
            <td width="52%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">&#160;&#160;New
                York</font></strong></div>
            </td>
            <td width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td width="1%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td width="40%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;<strong>43-0197190</strong></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="52%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;(State
                or other jurisdiction of incorporation or organization)</font></div>
            </td>
            <td width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td colspan="2" width="41%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;(I.R.S.
                Employer <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Identification
                No.)</font></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td colspan="2" width="41%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8300
      Maryland Avenue</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>St.
      Louis, Missouri 63105</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Address
      of Principal Executive Offices, including zip code)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Brown
      Shoe Company, Inc. Deferred Compensation Plan</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;(Full
      title of the plan)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Michael
      I. Oberlander, Esq.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Senior
      Vice President, General Counsel and Corporate Secretary</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Brown
      Shoe Company, Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8300
      Maryland Avenue</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>St.
      Louis, Missouri 63105</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Name
      and
      address of agent for service)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(314)
      854-4000</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Telephone
      number, including area code, of agent for service)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Copy
      to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>R.
      Randall Wang, Esq.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Bryan
      Cave LLP</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>211
      North Broadway, Suite 3600</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>St.
      Louis, Missouri 63102-2750</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(314)
      259-2000</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 467.4pt;"></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>CALCULATION
      OF REGISTRATION FEE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 467.4pt;"></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title
                of each class</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">of
                securities</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">to
                be registered</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Amount
                to</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">be
                registered</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Proposed
                maximum offering price per</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">unit&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>(1)</sup></font></font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Proposed
                maximum aggregate offering price<font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>(1)</sup></font></font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Amount
                of registration fee<font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>(1)</sup></font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Deferred
                Compensation Obligations <font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>(2)</sup></font></font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$5,000,000</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$5,000,000</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$153.50</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Estimated
      solely for the purpose of calculating the registration fee in accordance with
      Rule 457 of the Securities Act of 1933, as amended.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      Deferred Compensation Obligations are unsecured obligations of Brown Shoe
      Company, Inc. to pay deferred compensation in the future in accordance with
      the
      terms of the Brown Shoe Company, Inc. Deferred Compensation Plan (the
&#8220;Plan&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PART
      I</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      REQUIRED IN THE SECTION 10(a) PROSPECTUS</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      documents containing the
      information specified in Part I of Form S-8 (the plan information, registrant
      information and employee plan annual information) will be sent or given to
      participants in the Brown Shoe Company, Inc. Deferred Compensation Plan (the
      &#8220;Plan&#8221;) as specified in Rule 428(b)(1) under the Securities Act of 1933, as
      amended.&#160;&#160;In accordance with the instructions to Part I, those
      documents are not filed with the Commission as part of this Registration
      Statement or a prospectus under Rule 424 of the Securities Act of 1933, as
      amended.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PART
      II</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      REQUIRED IN THE REGISTRATION STATEMENT</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      3.&#160;&#160;Incorporation of Documents by Reference.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      following documents filed by Brown
      Shoe Company, Inc. (the &#8220;Registrant&#8221; or &#8220;Company&#8221;) with the Securities and
      Exchange Commission (File No. 001-02191) are hereby incorporated by
      reference:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                Registrant&#8217;s Annual Report filed on Form 10-K for the fiscal year ended
                February 3, 2007;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                Registrant&#8217;s Quarterly Reports filed on Form 10-Q for the quarterly
                periods ended May 5, 2007, August 4, 2007 and November 3, 2007;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                Registrant&#8217;s Current Reports on Form 8-K filed with the Securities and
                Exchange Commission on February 21, 2007, March 8, 2007, March 13,
                2007,
                April 12, 2007 and July 24, 2007, except, in any such case, the portions
                furnished and not filed pursuant to Item 2.02, 7.01 or
                otherwise.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
      addition, all documents subsequently filed by the Registrant with the Securities
      and Exchange Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the
      Securities and Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) subsequent to the
      effective date of this Registration Statement, but prior to the filing of a
      post-effective amendment to this Registration Statement indicating that all
      securities offered hereby have been sold or de-registering all securities then
      remaining unsold, shall be deemed to be incorporated by reference herein and
      to
      be a part hereof from the date of filing of such documents (but this shall
      not
      include any information that is merely furnished to the Securities and Exchange
      Commission).&#160;&#160;These documents include periodic reports, such as Proxy
      Statements, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
      Current Reports on Form 8-K (other than information furnished under Items 2.02
      and 7.01, which is deemed not to be incorporated by reference in this
      Registration Statement).&#160;&#160;Any statement contained herein, in an
      amendment hereto, or in any document incorporated or deemed to be incorporated
      herein by reference shall be deemed to be modified or superseded for purposes
      of
      this Registration Statement to the extent that a statement contained herein
      or
      in any other subsequently filed document incorporated or deemed to be
      incorporated herein by reference, which statement is also incorporated herein
      by
      reference, modifies or supersedes such statement.&#160;&#160;Any such statement
      so modified or superseded shall not be deemed, except as so modified or
      superseded, to constitute a part of this Registration Statement.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      4.&#160;&#160;Description of Securities.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      Deferred Compensation Plan (&#8220;Plan&#8221;)
      is available to a select group of our management and highly compensated
      employees (each a &#8220;Plan Participant&#8221;).&#160;&#160;The deferred compensation
      obligations (the &#8220;Obligations&#8221;) will be unsecured general obligations of Brown
      Shoe Company, Inc. (the &#8220;Company&#8221;) to pay the deferred compensation to
      participating management and employees in the future in accordance with the
      terms of the Plan. None of the Plan Participants have any ownership interest
      in
      any assets of the Company.&#160;&#160;The Obligations will rank equally with
      other unsecured indebtedness of the Company outstanding from time to
      time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Each
      Plan Participant may elect under
      the Plan to defer up to 50% of his/her compensation which is base salary and
      up
      to 100% of all other compensation that is not base salary as deemed deferrable
      by the Committee, as defined in the Plan.&#160;&#160;In order to participate in
      the Plan, a Participant must elect to defer $5,000 minimum per Plan
      Year.&#160;&#160;An election of the amount to be deferred must be filed with the
      Committee by December 31 of the year preceding the Plan Year and such election
      may be changed for each subsequent Plan Year.&#160;&#160;Participants are
      permitted to make later elections to defer with respect to performance-based
      compensation and certain forfeitable rights, or, in the case of newly eligible
      employees, other types of compensation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      Company credits Participant
      deferrals under the Plan and Company Credits (if any), as defined in the Plan,
      with earnings or losses that match the performance of one or more investment
      fund options available under the Plan in book accounts.&#160;&#160;The Company
      currently offers the following investment options: Vanguard Prime Money Market
      Fund, which invests in high-quality money market securities; American Funds
      Balanced Funds, which invests in a diversified portfolio of common stocks,
      convertible securities, corporate and government debt obligations and money
      market securities; American Funds Growth Fund, which invests in common stocks
      and securities convertible into common stocks; Dodge &amp; Cox Stock Fund, which
      invests in common stock; American Funds Europacific Growth Fund, which invests
      in equities of companies based outside of the United States; Pimco Total Return
      Fund, which invests in a diversified portfolio of fixed income securities of
      varying maturities with a portfolio duration of 3 to 6 years; William Blair
      Small Cap Growth, which invests in common stocks of small domestic companies
      which are expected to have solid growth earnings, and the Vanguard Institutional
      Index Fund, which seeks to replicate the performance of the S&amp;P 500 Index by
      investing in all 500 stocks in the Index.&#160;&#160;The Committee may change
      investment options from time to time at its discretion.&#160;&#160;If an
      investment option terminates and the Participant does not select an alternate
      investment option, the deferred compensation of that Participant will go into
      the default investment.&#160;&#160;Similarly, if Participants do not make an
      investment election, the deferred compensation will go into the default
      investment.&#160;&#160;The current default investment fund is the Vanguard Prime
      Money Market Fund but such default may change from time to time at the
      Committee&#8217;s discretion.&#160;&#160;A Participant may change his or her
      investment choices as often, and with such restrictions, as permitted by the
      Committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Distribution
      of vested compensation
      will be made according to the method of distribution that the Participant
      chooses beginning on the first day of the first month following the
      Participant&#8217;s termination of services.&#160;&#160;A Participant can elect to
      receive the distribution as a lump sum payment or in equal annual installments
      over a period of up to 15 years.&#160;&#160;However, if a Participant is a
      Specified Employee, as defined by the Plan, such Specified Employee shall not
      receive benefits within six months of the termination date and such Specified
      Employee&#8217;s account shall be credited with earnings and losses during such
      six-month period in accordance with Section 5 of the Plan and the distribution
      to such Specified Employee shall commence on the day after the last day of
      such
      six-month period.&#160;&#160;Participants can also elect to receive a
      distribution of amounts earned in a specified year, provided that such year
      is
      at least three years after the year to which the deferral relates.&#160;&#160;In
      such case, distributions under the Plan will be made in a single lump sum on
      January 1 of that specified year.&#160;&#160;In the event of Participant&#8217;s
      death, the Company will pay all amounts due to Participant to Participant&#8217;s
      beneficiary in a single lump sum no later than thirty days after the month
      in
      which the Participant&#8217;s death occurs.&#160;&#160;Finally, in the event that the
      Participant has a Financial Hardship, as defined in the Plan, the Company may
      elect to distribute a portion of the Participant&#8217;s account, up to the amount
      necessary to relieve the Financial Hardship.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Plan
      Participant and Participant&#8217;s
      beneficiary may not in any way voluntarily or involuntarily transfer, alienate,
      or assign nor subject to attachment, execution, garnishment or other such
      equitable or legal process, the Participants interests under the Plan and such
      interests are not subject to any claims, attachments or liens of the
      Participant&#8217;s creditors, including the Company.&#160;&#160;No loans are
      available to Participants based upon benefits accrued under the
      Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      Committee may amend, alter or
      terminate the Plan at any time without prior approval of the
      Board.&#160;&#160;However, no such amendment may materially increase the
      benefits accruing to Participants under the Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      5.&#160;&#160;Interests of Named Experts and Counsel.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Michael
      I. Oberlander, Esq., 8300
      Maryland Avenue, St. Louis, Missouri 63105, Senior Vice President, General
      Counsel and Corporate Secretary of the Company, has rendered an opinion as
      to
      the legality of the Obligations being registered hereby. Mr. Oberlander is
      paid
      a salary and bonus by the Company, participates in certain of the Company&#8217;s
      employee benefit plans, including this Plan, and, as of December 4, 2007, was
      the beneficial owner of 67,328 shares of Common Stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      6.&#160;&#160;Indemnification of Directors and Officers.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      following summary is qualified in
      its entirety by reference to the complete text of Sections 715, 717 and 721
      through 725 of the New York Business Corporation Law and the certificate of
      incorporation and bylaws of the Company.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>New
      York law authorizes a corporation
      to indemnify any person made, or threatened to be made, a party to any action
      or
      proceeding, civil or criminal, other than a shareholders&#8217; derivative action, by
      reason of being a director or officer of the corporation or serving any other
      entity in any capacity (at the request of the corporation), against judgments,
      fines, amounts paid in settlement and reasonable expenses, including attorneys&#8217;
fees, in connection therewith, if such director or officer acted in good faith,
      for a purpose he or she reasonably believed to be in, or, in the case of service
      to any other&#160;&#160;entity, not opposed to, the best interests of the
      corporation and, in criminal proceedings, had no reasonable cause to believe
      his
      or her conduct was unlawful.&#160;&#160;A corporation may indemnify any person
      made, or threatened to be made, a party to a shareholders&#8217; derivative action, in
      the circumstances and to the extent described in the preceding sentence, except
      that in such case no indemnification shall be made for a threatened action,
      or a
      pending action which is settled or otherwise disposed of, or any claim, issue
      or
      matter as to which such person shall have been adjudged to be liable to the
      corporation, unless and only to the extent the court finds that such person
      is
      fairly and reasonably entitled to such indemnification.&#160;&#160;Any person
      who has been successful, on the merits or otherwise, in the defense of a civil
      or criminal proceeding as described above in this paragraph, shall be entitled
      to indemnification under New York law.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>New
      York law provides that its
      statutory provisions relating to indemnification shall not be exclusive of
      any
      other indemnification to which a director or officer may be entitled by reason
      of the certificate of incorporation, bylaws, or, if authorized by the
      certificate or bylaws, by reason of a resolution of the stockholders or the
      directors as of an agreement with the corporation, provided that no
      indemnification may be made to or on behalf of an officer or director if a
      final
      adjudication adverse to the director or officer establishes that his or her
      acts
      were committed in bad faith or were the result of active and deliberate
      dishonesty and were material to the cause of action adjudicated, or that such
      officer or director personally gained a financial profit or other advantage
      to
      which he or she was not legally entitled.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      bylaws of the Company provide that
      the Company shall indemnify any director and officer, and may indemnify any
      employee or agent, of the Company, or of any other entity if requested by the
      Company to serve as such, against any claim, liability or expense incurred
      as a
      result of such service, to the maximum extent permitted by law.&#160;&#160;To
      the extent that such employee or agent has been successful in the defense of
      a
      civil or criminal proceeding arising out of such service, such employee or
      agent
      shall be entitled to such indemnification.&#160;&#160;The bylaws also provide
      that such indemnification is not exclusive of any other indemnification to
      which
      such director, officer, employee or agent might be entitled and authorize the
      Company to enter into agreements with any such director, officer, employee
      or
      agent, providing such rights of indemnification as the Board of Directors deems
      appropriate, provided that any such agreement shall not provide for
      indemnification of such a director or officer if a judgment or other final
      adjudication adverse to such director or officer establishes that his or her
      acts were committed in bad faith or were the result of active or deliberate
      dishonesty and were material to the cause of action adjudicated, or that he
      or
      she personally gained a financial profit or other advantage to which such
      director or officer was not legally entitled.&#160;&#160;Finally, the Company
      may purchase and maintain insurance to indemnify any such director, officer,
      employee or agent, to the maximum extent allowed by law, whether or not the
      Company would otherwise have the power to indemnify such person.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      directors and officers of the
      Company are insured under a policy of directors&#8217; and officers&#8217; liability
      insurance.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      7.&#160;&#160;Exemption From Registration Claimed.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Not
      applicable.</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      8.&#160;&#160;Exhibits.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      Exhibits to this Registration
      Statement are listed in the Exhibit Index to this Registration Statement, which
      Index is incorporated herein by reference.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      9.&#160;&#160;Undertakings.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(a)&#160;&#160;The
      undersigned
      Registrant hereby undertakes:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font>(1)&#160;&#160;To
      file during any
      period in which offers or sales are being made, a post-effective amendment
      to
      this Registration Statement:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 108pt;"></font>(i)&#160;&#160;To
      include any
      prospectus required by Section 10(a)(3) of the Securities Act of
      1933;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 108pt;"></font>(ii)&#160;&#160;To
      reflect in the
      prospectus any facts or events arising after the effective date of the
      registration statement (or the most recent post-effective amendment thereof)
      which, individually or in the aggregate, represent a fundamental change in
      the
      information set forth in the registration statement.&#160;&#160;Notwithstanding
      the foregoing, any increase or decrease in volume of securities offered (if
      the
      total dollar value of securities offered would not exceed that which was
      registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the
      Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
      and price represent no more than 20 percent change in the maximum aggregate
      offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the
      effective registration statement;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 108pt;"></font>(iii)&#160;&#160;To
      include any
      material information with respect to the plan of distribution not previously
      disclosed in the registration statement or any material change to such
      information in the registration statement;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><em>provided,
      however</em>, that
      Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the
      information required to be included in a post-effective amendment by those
      paragraphs is contained in reports filed with or furnished to the Commission
      by
      the Registrant pursuant to Section 13 or Section 15(d) of the Securities
      Exchange Act of 1934 that are incorporated by reference in the registration
      statement.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font>(2)&#160;&#160;That,
      for the purpose of
      determining any liability under the Securities Act of 1933, each such
      post-effective amendment shall be deemed to be a new registration statement
      relating to the securities offered therein, and the offering of such securities
      at that time shall be deemed to be the initial bona fide offering
      thereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font>(3)&#160;&#160;To
      remove from
      registration by means of a post-effective amendment any of the securities being
      registered which remain unsold at the termination of the offering.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(b)&#160;&#160;The
      undersigned
      Registrant hereby undertakes that, for purposes of determining any liability
      under the Securities Act of 1933, each filing of the Registrant&#8217;s annual report
      pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and,
      where applicable, each filing of an employee benefit plan&#8217;s annual report
      pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
      incorporated by reference in the registration statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(c)&#160;&#160;Insofar
      as
      indemnification for liabilities arising under the Securities Act of 1933 may
      be
      permitted to directors, officers and controlling persons of the Registrant
      pursuant to the foregoing provisions, or otherwise, the Registrant has been
      advised that in the opinion of the Securities and Exchange Commission such
      indemnification is against public policy as expressed in the Securities Act
      of
      1933 and is, therefore, unenforceable.&#160;&#160;In the event that a claim for
      indemnification against such liabilities (other than the payment by the
      Registrant of expenses incurred or paid by a director, officer or controlling
      person of the Registrant in the successful defense of any action, suit or
      proceeding) is asserted by such director, officer or controlling person in
      connection with the securities being registered, the Registrant will, unless
      in
      the opinion of its counsel the matter has been settled by controlling precedent,
      submit to a court of appropriate jurisdiction the question whether such
      indemnification by it is against public policy as expressed in the Securities
      Act of 1933 and will be governed by the final adjudication of such
      issue.</font></div>
    <div><br></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SIGNATURES</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Pursuant
      to the requirements of the
      Securities Act of 1933, the Registrant certifies that it has reasonable grounds
      to believe that it meets all of the requirements for filing on Form S-8 and
      has
      duly caused this Registration Statement to be signed on its behalf by the
      undersigned, thereunto duly authorized, in the County of St. Louis, State of
      Missouri, on this 11th day of December, 2007.</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Brown
                Shoe Company, Inc.</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td width="50%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;By:&#160;&#160;
                /s/ Michael I. Oberlander</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Senior
                Vice President, General Counsel and Corporate
                Secretary</font></td>
            </tr>

        </table>
      </div>
    </div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>POWER
      OF ATTORNEY</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">KNOW
      ALL
      PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby
      constitutes and appoints Ronald A. Fromm, Mark E. Hood and Michael I. Oberlander
      and each of them (with full power to each of them to act alone), his or her
      true
      and lawful attorneys in fact and agents for him or her and on his or her behalf
      and in his or her name, place and stead, in any and all capacities to sign
      any
      and all amendments (including post-effective amendments) to this Registration
      Statement, and to file the same, with exhibits and any and all other documents
      field with respect thereto, with the Securities and Exchange Commission (or
      any
      other governmental or regulatory authority), granting unto said attorneys,
      and
      each of them, full power and authority to do and to perform each and every
      act
      and thing requisite and necessary to be done in and about the premises in order
      to effectuate the same as fully to all intents and purposes as he or she might
      or could do if personally present, hereby ratifying and confirming all that
      said
      attorneys in fact and agents, or any of them, may lawfully do or cause to be
      done by virtue hereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Pursuant
      to the requirements of the
      Securities Act of 1933, this Registration Statement has been signed below by
      the
      following persons in the capacities and on the dates indicated on.</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Signature</strong></font></div>
            </td>
            <td valign="top" width="34%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Title</strong></font></div>
            </td>
            <td valign="top" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Date</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Ronald A. Fromm</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Ronald
                A. Fromm</font></div>
            </td>
            <td valign="middle" width="34%" style="PADDING-BOTTOM: 2px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Chairman
                of the Board and Chief Executive Officer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Principal
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Executive
                Officer)</font></div>
            </td>
            <td align="left" valign="top" width="19%" style="PADDING-BOTTOM: 2px">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Mark E. Hood</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Mark
                E. Hood</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Senior
                Vice President and Chief Financial Officer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Principal
                Financial Officer)</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Richard E. Schumacher</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Richard
                C. Schumacher</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Senior
                Vice President and Chief Accounting Officer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Principal
                Accounting Officer)</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Signature</strong></font></div>
            </td>
            <td valign="top" width="34%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Title</strong></font></div>
            </td>
            <td valign="top" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Date</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/<u>s/
                Joseph E. Bower</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Joseph
                L. Bower</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Julie C. Esrey</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Julie
                C. Esrey</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Carla C. Hendra</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Carla
                C. Hendra</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Ward M. Klein</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Ward
                M. Klein</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Steven W. Korn</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Steven
                W. Korn</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Patricia G. McGinnis</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Patricia
                G. McGinnis</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/<u>w/
                W. Patrick McGinnis</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">W.
                Patrick McGinnis</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Michael F. Neidorff</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Michael
                F. Neidorff</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Diane M. Sullivan</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Diane
                Sullivan</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="35%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><u>/s/
                Hal J. Upbin</u></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Hal
                J. Upbin</font></div>
            </td>
            <td valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td align="left" valign="top" width="19%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">December
                11, 2007</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div><br>
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      <div id="FTR">
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        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Exhibit
                Number</strong></font></div>
            </td>
            <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Exhibit</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">4.1</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><a href="bwss8121107ex4_1.htm">Brown
                Shoe Company, Inc. Deferred Compensation
                Plan</a></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">5.1</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><a href="bwss8121107ex5_1.htm">Opinion
                of Michael I. Oberlander, Senior Vice
                President, General Counsel and Corporate Secretary of the Company,
                as to
                the legality of the securities to be registered including his
                consent</a></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">23.1</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><a href="bwss8121107ex23_1.htm">Consent
                of Ernst &amp; Young LLP, Independent
                Registered Public Accountants</a></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">23.2</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><a href="bwss8121107ex5_1.htm">Consent
                of Counsel (included in Exhibit
                5.1)</a></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">24.1</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Power
                of Attorney (included on signature
                page)</font></div>
            </td>
          </tr>

      </table>
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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[{"type": "S-8", "sequence": "1", "filename": "bwss8121107.htm", "description": "BWS FORM S-8", "secsgml_size_bytes": 82092}]
{"company-data": {"conformed-name": "BROWN SHOE CO INC", "cik": "0000014707", "assigned-sic": "3140", "irs-number": "430197190", "state-of-incorporation": "NY", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-147989", "film-number": "071299375"}, "business-address": {"street1": "8300 MARYLAND AVE", "street2": "P O BOX 29", "city": "ST LOUIS", "state": "MO", "zip": "63105", "phone": "3148544000"}, "mail-address": {"street1": "P O BOX 29", "city": "ST LOUIS", "state": "MO", "zip": "63166"}, "former-company": [{"former-conformed-name": "BROWN SHOE CO INC/", "date-changed": "19990528"}, {"former-conformed-name": "BROWN GROUP INC", "date-changed": "19920703"}, {"former-conformed-name": "BROWN SHOE CO INC", "date-changed": "19720327"}]}
bwss8121107.htm
As
      filed
      with the Securities and Exchange Commission on December 11, 2007
Registration
      No.
      333-
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      S-8
REGISTRATION
      STATEMENT
UNDER
THE
      SECURITIES ACT OF 1933
Brown
      Shoe Company, Inc.
(Exact
      name of registrant as specified in its charter)
New
                York
43-0197190
(State
                or other jurisdiction of incorporation or organization)
(I.R.S.
                Employer
Identification
                No.)
8300
      Maryland Avenue
St.
      Louis, Missouri 63105
(Address
      of Principal Executive Offices, including zip code)
Brown
      Shoe Company, Inc. Deferred Compensation Plan
(Full
      title of the plan)
Michael
      I. Oberlander, Esq.
Senior
      Vice President, General Counsel and Corporate Secretary
Brown
      Shoe Company, Inc.
8300
      Maryland Avenue
St.
      Louis, Missouri 63105
(Name
      and
      address of agent for service)
(314)
      854-4000
(Telephone
      number, including area code, of agent for service)
Copy
      to:
R.
      Randall Wang, Esq.
Bryan
      Cave LLP
211
      North Broadway, Suite 3600
St.
      Louis, Missouri 63102-2750
(314)
      259-2000
CALCULATION
      OF REGISTRATION FEE
Title
                of each class
of
                securities
to
                be registered
Amount
                to
be
                registered
Proposed
                maximum offering price per
unit
(1)
Proposed
                maximum aggregate offering price
(1)
Amount
                of registration fee
(1)
Deferred
                Compensation Obligations
(2)
$5,000,000
100%
$5,000,000
$153.50
(1)           Estimated
      solely for the purpose of calculating the registration fee in accordance with
      Rule 457 of the Securities Act of 1933, as amended.
(2)           The
      Deferred Compensation Obligations are unsecured obligations of Brown Shoe
      Company, Inc. to pay deferred compensation in the future in accordance with
      the
      terms of the Brown Shoe Company, Inc. Deferred Compensation Plan (the
"Plan").
PART
      I
INFORMATION
      REQUIRED IN THE SECTION 10(a) PROSPECTUS
The
      documents containing the
      information specified in Part I of Form S-8 (the plan information, registrant
      information and employee plan annual information) will be sent or given to
      participants in the Brown Shoe Company, Inc. Deferred Compensation Plan (the
      "Plan") as specified in Rule 428(b)(1) under the Securities Act of 1933, as
      amended.  In accordance with the instructions to Part I, those
      documents are not filed with the Commission as part of this Registration
      Statement or a prospectus under Rule 424 of the Securities Act of 1933, as
      amended.
PART
      II
INFORMATION
      REQUIRED IN THE REGISTRATION STATEMENT
Item
      3.  Incorporation of Documents by Reference.
The
      following documents filed by Brown
      Shoe Company, Inc. (the "Registrant" or "Company") with the Securities and
      Exchange Commission (File No. 001-02191) are hereby incorporated by
      reference:
(a)
The
                Registrant's Annual Report filed on Form 10-K for the fiscal year ended
                February 3, 2007;
(b)
The
                Registrant's Quarterly Reports filed on Form 10-Q for the quarterly
                periods ended May 5, 2007, August 4, 2007 and November 3, 2007;
                and
(c)
The
                Registrant's Current Reports on Form 8-K filed with the Securities and
                Exchange Commission on February 21, 2007, March 8, 2007, March 13,
                2007,
                April 12, 2007 and July 24, 2007, except, in any such case, the portions
                furnished and not filed pursuant to Item 2.02, 7.01 or
                otherwise.
In
      addition, all documents subsequently filed by the Registrant with the Securities
      and Exchange Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the
      Securities and Exchange Act of 1934 (the "Exchange Act") subsequent to the
      effective date of this Registration Statement, but prior to the filing of a
      post-effective amendment to this Registration Statement indicating that all
      securities offered hereby have been sold or de-registering all securities then
      remaining unsold, shall be deemed to be incorporated by reference herein and
      to
      be a part hereof from the date of filing of such documents (but this shall
      not
      include any information that is merely furnished to the Securities and Exchange
      Commission).  These documents include periodic reports, such as Proxy
      Statements, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
      Current Reports on Form 8-K (other than information furnished under Items 2.02
      and 7.01, which is deemed not to be incorporated by reference in this
      Registration Statement).  Any statement contained herein, in an
      amendment hereto, or in any document incorporated or deemed to be incorporated
      herein by reference shall be deemed to be modified or superseded for purposes
      of
      this Registration Statement to the extent that a statement contained herein
      or
      in any other subsequently filed document incorporated or deemed to be
      incorporated herein by reference, which statement is also incorporated herein
      by
      reference, modifies or supersedes such statement.  Any such statement
      so modified or superseded shall not be deemed, except as so modified or
      superseded, to constitute a part of this Registration Statement.
Item
      4.  Description of Securities.
The
      Deferred Compensation Plan ("Plan")
      is available to a select group of our management and highly compensated
      employees (each a "Plan Participant").  The deferred compensation
      obligations (the "Obligations") will be unsecured general obligations of Brown
      Shoe Company, Inc. (the "Company") to pay the deferred compensation to
      participating management and employees in the future in accordance with the
      terms of the Plan. None of the Plan Participants have any ownership interest
      in
      any assets of the Company.  The Obligations will rank equally with
      other unsecured indebtedness of the Company outstanding from time to
      time.
Each
      Plan Participant may elect under
      the Plan to defer up to 50% of his/her compensation which is base salary and
      up
      to 100% of all other compensation that is not base salary as deemed deferrable
      by the Committee, as defined in the Plan.  In order to participate in
      the Plan, a Participant must elect to defer $5,000 minimum per Plan
      Year.  An election of the amount to be deferred must be filed with the
      Committee by December 31 of the year preceding the Plan Year and such election
      may be changed for each subsequent Plan Year.  Participants are
      permitted to make later elections to defer with respect to performance-based
      compensation and certain forfeitable rights, or, in the case of newly eligible
      employees, other types of compensation.
The
      Company credits Participant
      deferrals under the Plan and Company Credits (if any), as defined in the Plan,
      with earnings or losses that match the performance of one or more investment
      fund options available under the Plan in book accounts.  The Company
      currently offers the following investment options: Vanguard Prime Money Market
      Fund, which invests in high-quality money market securities; American Funds
      Balanced Funds, which invests in a diversified portfolio of common stocks,
      convertible securities, corporate and government debt obligations and money
      market securities; American Funds Growth Fund, which invests in common stocks
      and securities convertible into common stocks; Dodge & Cox Stock Fund, which
      invests in common stock; American Funds Europacific Growth Fund, which invests
      in equities of companies based outside of the United States; Pimco Total Return
      Fund, which invests in a diversified portfolio of fixed income securities of
      varying maturities with a portfolio duration of 3 to 6 years; William Blair
      Small Cap Growth, which invests in common stocks of small domestic companies
      which are expected to have solid growth earnings, and the Vanguard Institutional
      Index Fund, which seeks to replicate the performance of the S&P 500 Index by
      investing in all 500 stocks in the Index.  The Committee may change
      investment options from time to time at its discretion.  If an
      investment option terminates and the Participant does not select an alternate
      investment option, the deferred compensation of that Participant will go into
      the default investment.  Similarly, if Participants do not make an
      investment election, the deferred compensation will go into the default
      investment.  The current default investment fund is the Vanguard Prime
      Money Market Fund but such default may change from time to time at the
      Committee's discretion.  A Participant may change his or her
      investment choices as often, and with such restrictions, as permitted by the
      Committee.
Distribution
      of vested compensation
      will be made according to the method of distribution that the Participant
      chooses beginning on the first day of the first month following the
      Participant's termination of services.  A Participant can elect to
      receive the distribution as a lump sum payment or in equal annual installments
      over a period of up to 15 years.  However, if a Participant is a
      Specified Employee, as defined by the Plan, such Specified Employee shall not
      receive benefits within six months of the termination date and such Specified
      Employee's account shall be credited with earnings and losses during such
      six-month period in accordance with Section 5 of the Plan and the distribution
      to such Specified Employee shall commence on the day after the last day of
      such
      six-month period.  Participants can also elect to receive a
      distribution of amounts earned in a specified year, provided that such year
      is
      at least three years after the year to which the deferral relates.  In
      such case, distributions under the Plan will be made in a single lump sum on
      January 1 of that specified year.  In the event of Participant's
      death, the Company will pay all amounts due to Participant to Participant's
      beneficiary in a single lump sum no later than thirty days after the month
      in
      which the Participant's death occurs.  Finally, in the event that the
      Participant has a Financial Hardship, as defined in the Plan, the Company may
      elect to distribute a portion of the Participant's account, up to the amount
      necessary to relieve the Financial Hardship.
Plan
      Participant and Participant's
      beneficiary may not in any way voluntarily or involuntarily transfer, alienate,
      or assign nor subject to attachment, execution, garnishment or other such
      equitable or legal process, the Participants interests under the Plan and such
      interests are not subject to any claims, attachments or liens of the
      Participant's creditors, including the Company.  No loans are
      available to Participants based upon benefits accrued under the
      Plan.
The
      Committee may amend, alter or
      terminate the Plan at any time without prior approval of the
      Board.  However, no such amendment may materially increase the
      benefits accruing to Participants under the Plan.
Item
      5.  Interests of Named Experts and Counsel.
Michael
      I. Oberlander, Esq., 8300
      Maryland Avenue, St. Louis, Missouri 63105, Senior Vice President, General
      Counsel and Corporate Secretary of the Company, has rendered an opinion as
      to
      the legality of the Obligations being registered hereby. Mr. Oberlander is
      paid
      a salary and bonus by the Company, participates in certain of the Company's
      employee benefit plans, including this Plan, and, as of December 4, 2007, was
      the beneficial owner of 67,328 shares of Common Stock.
Item
      6.  Indemnification of Directors and Officers.
The
      following summary is qualified in
      its entirety by reference to the complete text of Sections 715, 717 and 721
      through 725 of the New York Business Corporation Law and the certificate of
      incorporation and bylaws of the Company.
New
      York law authorizes a corporation
      to indemnify any person made, or threatened to be made, a party to any action
      or
      proceeding, civil or criminal, other than a shareholders' derivative action, by
      reason of being a director or officer of the corporation or serving any other
      entity in any capacity (at the request of the corporation), against judgments,
      fines, amounts paid in settlement and reasonable expenses, including attorneys'
fees, in connection therewith, if such director or officer acted in good faith,
      for a purpose he or she reasonably believed to be in, or, in the case of service
      to any other  entity, not opposed to, the best interests of the
      corporation and, in criminal proceedings, had no reasonable cause to believe
      his
      or her conduct was unlawful.  A corporation may indemnify any person
      made, or threatened to be made, a party to a shareholders' derivative action, in
      the circumstances and to the extent described in the preceding sentence, except
      that in such case no indemnification shall be made for a threatened action,
      or a
      pending action which is settled or otherwise disposed of, or any claim, issue
      or
      matter as to which such person shall have been adjudged to be liable to the
      corporation, unless and only to the extent the court finds that such person
      is
      fairly and reasonably entitled to such indemnification.  Any person
      who has been successful, on the merits or otherwise, in the defense of a civil
      or criminal proceeding as described above in this paragraph, shall be entitled
      to indemnification under New York law.
New
      York law provides that its
      statutory provisions relating to indemnification shall not be exclusive of
      any
      other indemnification to which a director or officer may be entitled by reason
      of the certificate of incorporation, bylaws, or, if authorized by the
      certificate or bylaws, by reason of a resolution of the stockholders or the
      directors as of an agreement with the corporation, provided that no
      indemnification may be made to or on behalf of an officer or director if a
      final
      adjudication adverse to the director or officer establishes that his or her
      acts
      were committed in bad faith or were the result of active and deliberate
      dishonesty and were material to the cause of action adjudicated, or that such
      officer or director personally gained a financial profit or other advantage
      to
      which he or she was not legally entitled.
The
      bylaws of the Company provide that
      the Company shall indemnify any director and officer, and may indemnify any
      employee or agent, of the Company, or of any other entity if requested by the
      Company to serve as such, against any claim, liability or expense incurred
      as a
      result of such service, to the maximum extent permitted by law.  To
      the extent that such employee or agent has been successful in the defense of
      a
      civil or criminal proceeding arising out of such service, such employee or
      agent
      shall be entitled to such indemnification.  The bylaws also provide
      that such indemnification is not exclusive of any other indemnification to
      which
      such director, officer, employee or agent might be entitled and authorize the
      Company to enter into agreements with any such director, officer, employee
      or
      agent, providing such rights of indemnification as the Board of Directors deems
      appropriate, provided that any such agreement shall not provide for
      indemnification of such a director or officer if a judgment or other final
      adjudication adverse to such director or officer establishes that his or her
      acts were committed in bad faith or were the result of active or deliberate
      dishonesty and were material to the cause of action adjudicated, or that he
      or
      she personally gained a financial profit or other advantage to which such
      director or officer was not legally entitled.  Finally, the Company
      may purchase and maintain insurance to indemnify any such director, officer,
      employee or agent, to the maximum extent allowed by law, whether or not the
      Company would otherwise have the power to indemnify such person.
The
      directors and officers of the
      Company are insured under a policy of directors' and officers' liability
      insurance.
Item
      7.  Exemption From Registration Claimed.
Not
      applicable.
Item
      8.  Exhibits.
The
      Exhibits to this Registration
      Statement are listed in the Exhibit Index to this Registration Statement, which
      Index is incorporated herein by reference.
Item
      9.  Undertakings.
(a)  The
      undersigned
      Registrant hereby undertakes:
(1)  To
      file during any
      period in which offers or sales are being made, a post-effective amendment
      to
      this Registration Statement:
(i)  To
      include any
      prospectus required by Section 10(a)(3) of the Securities Act of
      1933;
(ii)  To
      reflect in the
      prospectus any facts or events arising after the effective date of the
      registration statement (or the most recent post-effective amendment thereof)
      which, individually or in the aggregate, represent a fundamental change in
      the
      information set forth in the registration statement.  Notwithstanding
      the foregoing, any increase or decrease in volume of securities offered (if
      the
      total dollar value of securities offered would not exceed that which was
      registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the
      Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
      and price represent no more than 20 percent change in the maximum aggregate
      offering price set forth in the "Calculation of Registration Fee" table in the
      effective registration statement;
(iii)  To
      include any
      material information with respect to the plan of distribution not previously
      disclosed in the registration statement or any material change to such
      information in the registration statement;
provided,
      however
, that
      Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the
      information required to be included in a post-effective amendment by those
      paragraphs is contained in reports filed with or furnished to the Commission
      by
      the Registrant pursuant to Section 13 or Section 15(d) of the Securities
      Exchange Act of 1934 that are incorporated by reference in the registration
      statement.
(2)  That,
      for the purpose of
      determining any liability under the Securities Act of 1933, each such
      post-effective amendment shall be deemed to be a new registration statement
      relating to the securities offered therein, and the offering of such securities
      at that time shall be deemed to be the initial bona fide offering
      thereof.
(3)  To
      remove from
      registration by means of a post-effective amendment any of the securities being
      registered which remain unsold at the termination of the offering.
(b)  The
      undersigned
      Registrant hereby undertakes that, for purposes of determining any liability
      under the Securities Act of 1933, each filing of the Registrant's annual report
      pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and,
      where applicable, each filing of an employee benefit plan's annual report
      pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
      incorporated by reference in the registration statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.
(c)  Insofar
      as
      indemnification for liabilities arising under the Securities Act of 1933 may
      be
      permitted to directors, officers and controlling persons of the Registrant
      pursuant to the foregoing provisions, or otherwise, the Registrant has been
      advised that in the opinion of the Securities and Exchange Commission such
      indemnification is against public policy as expressed in the Securities Act
      of
      1933 and is, therefore, unenforceable.  In the event that a claim for
      indemnification against such liabilities (other than the payment by the
      Registrant of expenses incurred or paid by a director, officer or controlling
      person of the Registrant in the successful defense of any action, suit or
      proceeding) is asserted by such director, officer or controlling person in
      connection with the securities being registered, the Registrant will, unless
      in
      the opinion of its counsel the matter has been settled by controlling precedent,
      submit to a court of appropriate jurisdiction the question whether such
      indemnification by it is against public policy as expressed in the Securities
      Act of 1933 and will be governed by the final adjudication of such
      issue.
SIGNATURES
Pursuant
      to the requirements of the
      Securities Act of 1933, the Registrant certifies that it has reasonable grounds
      to believe that it meets all of the requirements for filing on Form S-8 and
      has
      duly caused this Registration Statement to be signed on its behalf by the
      undersigned, thereunto duly authorized, in the County of St. Louis, State of
      Missouri, on this 11th day of December, 2007.
Brown
                Shoe Company, Inc.
By:  
                /s/ Michael I. Oberlander
Senior
                Vice President, General Counsel and Corporate
                Secretary
POWER
      OF ATTORNEY
KNOW
      ALL
      PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby
      constitutes and appoints Ronald A. Fromm, Mark E. Hood and Michael I. Oberlander
      and each of them (with full power to each of them to act alone), his or her
      true
      and lawful attorneys in fact and agents for him or her and on his or her behalf
      and in his or her name, place and stead, in any and all capacities to sign
      any
      and all amendments (including post-effective amendments) to this Registration
      Statement, and to file the same, with exhibits and any and all other documents
      field with respect thereto, with the Securities and Exchange Commission (or
      any
      other governmental or regulatory authority), granting unto said attorneys,
      and
      each of them, full power and authority to do and to perform each and every
      act
      and thing requisite and necessary to be done in and about the premises in order
      to effectuate the same as fully to all intents and purposes as he or she might
      or could do if personally present, hereby ratifying and confirming all that
      said
      attorneys in fact and agents, or any of them, may lawfully do or cause to be
      done by virtue hereof.
Pursuant
      to the requirements of the
      Securities Act of 1933, this Registration Statement has been signed below by
      the
      following persons in the capacities and on the dates indicated on.
Signature
Title
Date
/s/
                Ronald A. Fromm
Ronald
                A. Fromm
Chairman
                of the Board and Chief Executive Officer
(Principal
Executive
                Officer)
December
                11, 2007
/s/
                Mark E. Hood
Mark
                E. Hood
Senior
                Vice President and Chief Financial Officer
(Principal
                Financial Officer)
December
                11, 2007
/s/
                Richard E. Schumacher
Richard
                C. Schumacher
Senior
                Vice President and Chief Accounting Officer
(Principal
                Accounting Officer)
December
                11, 2007
Signature
Title
Date
/
s/
                Joseph E. Bower
Joseph
                L. Bower
Director
December
                11, 2007
/s/
                Julie C. Esrey
Julie
                C. Esrey
Director
December
                11, 2007
/s/
                Carla C. Hendra
Carla
                C. Hendra
Director
December
                11, 2007
/s/
                Ward M. Klein
Ward
                M. Klein
Director
December
                11, 2007
/s/
                Steven W. Korn
Steven
                W. Korn
Director
December
                11, 2007
/s/
                Patricia G. McGinnis
Patricia
                G. McGinnis
Director
December
                11, 2007
/
w/
                W. Patrick McGinnis
W.
                Patrick McGinnis
Director
December
                11, 2007
/s/
                Michael F. Neidorff
Michael
                F. Neidorff
Director
December
                11, 2007
/s/
                Diane M. Sullivan
Diane
                Sullivan
Director
December
                11, 2007
/s/
                Hal J. Upbin
Hal
                J. Upbin
Director
December
                11, 2007
EXHIBIT
      INDEX
Exhibit
                Number
Exhibit
4.1
Brown
                Shoe Company, Inc. Deferred Compensation
                Plan
5.1
Opinion
                of Michael I. Oberlander, Senior Vice
                President, General Counsel and Corporate Secretary of the Company,
                as to
                the legality of the securities to be registered including his
                consent
23.1
Consent
                of Ernst & Young LLP, Independent
                Registered Public Accountants
23.2
Consent
                of Counsel (included in Exhibit
                5.1)
24.1
Power
                of Attorney (included on signature
                page)