Famous Footwear November Comps Decline 2.9%

Brown Shoe Company, Inc. announced that Famous Footwear's sales for the four-week period ended November 29, 2003,
were $74.6 million versus $75.1 million for the same period last year. Same store sales were down 2.9%, as warmer-than-usual weather in parts of the country, particularly at month-end, depressed sales of seasonal footwear.

Year-to-date sales for Famous Footwear, the 906-store chain selling
brand-name family footwear for less, were $906,200,000 compared to
$908,000,000 for the same 43-week period last year, with same-store sales down
2.5 percent.

    MONTH AND YEAR-TO-DATE SALES (millions)

                   FY 2003    FY 2002    %    Same-Store    Stores Open
                 (11/29/03) (11/30/02) Change % Change   11/29/03 vs. 11/30/02

    Nov. Famous
     Footwear       $74.6      $75.1    (0.7)    (2.9)      906         924
    Y-T-D Famous
     Footwear       906.2      908.0    (0.2)    (2.5)

    Nov.
     Naturalizer     10.8       11.4    (5.3)    (0.9)      210         230
    Y-T-D
     Naturalizer    102.8      115.0   (10.6)     1.0

    Highlights for the month
    -- Famous Footwear opened new stores in the following markets:
       Thornton, CO; Waipahu, HI; Hazelwood, MO; Blasdell, NY and Janesville,
       WI.