Brown Shoe posts lower first-quarter profit

NEW YORK, May 21 (Reuters) - Brown Shoe Co Inc (BWS.N: Quote, Profile, Research, Stock Buzz) posted a lower first-quarter profit on Wednesday, as consumers reeled in their purchases of discretionary items like shoes and clothes amid rising fuel and food costs.

Brown Shoe's net earnings fell to $7.2 million, or 17 cents a share, in the quarter that ended May 3, compared to $9.6 million or 22 cents a share in the year-earlier period. (Reporting by Aarthi Sivaraman; Editing by Derek Caney)