Famous Footwear July Comps Down 3.2%

Brown Shoe Company, Inc. announced July retail sales at Famous Footwear were $85.1 million for the four-week period ended August 2, 2003, compared to $86.3 million for the same period last year (ended August 3, 2002). Same-store sales for July decreased 3.2 percent.

Famous Footwear's second quarter sales (for the 13 weeks ended August 2, 2003) were $268,900,000 compared to $270,800,000 for the same period last year. Same-store sales for the second quarter were down 2.9 percent. Year-to-date sales for Famous Footwear for the 26-week period decreased 1.6 percent to $530,000,000 from $538,400,000, and were down 4.2 percent on a same-store basis.

    MONTH AND YEAR-TO-DATE SALES (millions)
                                                   Store-
                                                    for-
                                                    Store
                        FY 2003   FY 2003  Percent Percent   Stores Open
                       (8/02/03) (8/03/02) Change  Change  8/2/03 v. 8/3/02
    July - Famous
      Footwear          $ 85.1    $ 86.3    (1.4)   (3.2)   909       920
    2nd Q - Famous
      Footwear           268.9     270.8     (.7)   (2.9)
    Y-T-D - Famous
      Footwear           530.0     538.4    (1.6)   (4.2)

    July - Naturalizer     8.1       8.9    (9.0)    6.6    213       244
    2nd Q - Naturalizer   30.2      33.3    (9.3)    4.5
    Y-T-D - Naturalizer   59.0      68.9   (14.4)    0.9

    Other Highlights for the Month:
        - Famous Footwear opened 11 new stores in the following markets:
          Sacramento, CA; Salinas, CA; Temecula, CA; Colorado Springs, CO;
          East Point, GA; Minnetonka, MN; Las Vegas, NV; Clifton, NJ;
          Flemington, NJ; Gillette, NJ; University Heights, OH.
        - Naturalizer Retail opened 2 stores in the following markets:
          Las Vegas, NV and Beachwood, OH.