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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000014707-09-000019.txt : 20090206
<SEC-HEADER>0000014707-09-000019.hdr.sgml : 20090206
<ACCEPTANCE-DATETIME>20090206152533
ACCESSION NUMBER:		0000014707-09-000019
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090206
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
FILED AS OF DATE:		20090206
DATE AS OF CHANGE:		20090206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROWN SHOE CO INC
		CENTRAL INDEX KEY:			0000014707
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOTWEAR, (NO RUBBER) [3140]
		IRS NUMBER:				430197190
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02191
		FILM NUMBER:		09576977

	BUSINESS ADDRESS:	
		STREET 1:		8300 MARYLAND AVE
		STREET 2:		P O BOX 29
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63105
		BUSINESS PHONE:		3148544000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 29
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63166

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN SHOE CO INC/
		DATE OF NAME CHANGE:	19990528

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN GROUP INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN SHOE CO INC
		DATE OF NAME CHANGE:	19720327
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>bws8ka020609.htm
<DESCRIPTION>BWS FORM 8KA
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8-K/A</font></div>
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No. 1)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of Earliest Event Reported):&#160;&#160;February 6, 2009 (January
21, 2009)</font></div>
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Shoe Company, Inc.</font></div>
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Name of Registrant as Specified in its Charter)</font></div>
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      York</font></div>
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      Employer</font></div>
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      Number)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8300
      Maryland Avenue</font></div>
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      Louis, Missouri 63105</font></div>
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      854-4000</font></font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (<font style="DISPLAY: inline; FONT-STYLE: italic">see </font>General
Instruction A.2. below):</font></div>
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communications pursuant to Rule 425 under the Securities Act (17 CFR
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
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communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Explanatory
Note</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Amendment No.&#160;1 on Form&#160;8-K/A amends and supplements the Current
Report on Form&#160;8-K filed with the Securities and Exchange Commission on
January 22, 2009 (the &#8220;Initial Form&#160;8-K&#8221;) to include additional information
on&#160;costs associated with exit or disposal activities&#160;permitted
pursuant to Item&#160;2.05 of Form&#160;8-K to be excluded from the Initial
Form&#160;8-K and filed by an amendment to the Initial Form&#160;8-K no later
than four days after the date on which a determination is made of estimated or a
range of estimated amounts expected to be incurred in connection with the
action.&#160;&#160;Except as stated in this Form 8-K/A, no other changes are
being made to the Initial Form 8-K.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
2.05.&#160;&#160;Costs Associated with Exit or Disposal Activities.</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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 21, 2009, the Company announced expense and capital containment
initiatives to proactively position itself for continued challenges in the
retail environment. These initiatives, which include changes in compensation
structure, rationalization of operating expenses, the closing of certain
functions at its Fredericktown, MO distribution center, and other workforce
reductions.&#160;&#160;On February 5, 2009, the Company provided an update on
its expense reduction initiatives and announced that such&#160;&#160;initiatives
are now expected to yield annual savings in the range of $28 million to $31
million.&#160;&#160;The workforce reduction program is expected to affect 12 to
14 percent of the Company&#8217;s domestic workforce in business areas across the
enterprise, excluding stores and distribution centers. Associate separations are
beginning in February, with final dates of employment determined on an
individual basis and driven by business need.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Costs
related to these expense initiatives are currently anticipated to be in the
range of $27 million to $30 million (of which approximately $5 million to $6
million will be non-cash), the majority of which will be incurred in the
Company's fourth quarter of fiscal 2008, and the remainder will be completed by
the end of fiscal 2009.&#160;&#160;The anticipated expenses by category are as
follows:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <div align="justify">
          <div align="justify">
            <table cellpadding="0" cellspacing="0" width="100%">
                <tr>
                  <td valign="top" width="49%" style="BORDER-TOP: #000000 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expense
      category</font></div>
                  </td>
                  <td valign="top" width="29%" style="BORDER-TOP: #000000 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Estimate
      of pre-tax expenses</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">People-related
      costs, including severance and other costs</font></div>
                  </td>
                  <td valign="top" width="29%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$21.5
      - $22.5 million</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Facility-related
      costs</font></div>
                  </td>
                  <td valign="top" width="29%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.5
      - $6.0 million</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="49%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div>
                  </td>
                  <td valign="top" width="29%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.0
      - $1.5 million</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="49%" style="BORDER-BOTTOM: black 4px double">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td valign="top" width="29%" style="BORDER-BOTTOM: black 4px double">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.0
      - $30.0 million</font></div>
                  </td>
                </tr>
            </table>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Actual
expenses could differ from these estimates.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Safe
Harbor Statement Under the Private Securities Litigation Reform Act of
1995</font></div>
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report contains certain forward-looking statements and expectations regarding
the Company&#8217;s future performance. Such statements are subject to various risks
and uncertainties that could cause actual results to differ materially. These
include, among other things, (i) the preliminary nature of estimates of the
costs and benefits of the Company&#8217;s expense and capital containment initiatives,
which are subject to change as the Company makes decisions and refines these
estimates over time; (ii) potential disruption to the Company&#8217;s business and
operations as it implements its workforce reduction initiatives; and (iii) the
timing and uncertainty of activities and costs related to expense and capital
containment initiatives, software implementation and business transformation.
The Company's reports to the Securities and Exchange Commission contain detailed
information relating to such factors, including, without limitation, the
information under the caption &#8220;Risk Factors&#8221; in Item 1A of the Company&#8217;s Annual
Report on Form 10-K for the year ended February 2, 2008, which information is
incorporated by reference herein and updated by the Company&#8217;s Quarterly Reports
on Form 10-Q. The Company does not undertake any obligation or plan to update
these forward-looking statements, even though its situation may
change.</font></div><br>
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      <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: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">BROWN
      SHOE COMPANY, INC.</font></div>
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                <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">Date:&#160;&#160;February
      6, 2009</font></div>
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                <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">By:</font></div>
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      I. Oberlander</font></div>
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      Vice President, General Counsel and Corporate Secretary</font></div>
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