Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  Peace Nelson B
 2. Date of Event Requiring Statement (Month/Day/Year)
03/23/2007		 3. Issuer Name and Ticker or Trading Symbol
LOWES COMPANIES INC [LOW]
(Last)
(First)
(Middle)
1000 LOWE'S BOULEVARD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP Corporate Affairs
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MOORESVILLE, NC 28117		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 41,301.7968
D
 
Common Stock 4,939.2059
I
By 401k Plan
Common Stock 402.095
I
by IRA-Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Benefit Restoration Plan Stock Units   (1)   (1) Common Stock 734.9577 $ 0 D  
Incentive Stock Option (right to buy)   (2) 03/01/2010 Common Stock 5,574 $ 19.65 D  
Incentive Stock Option (right to buy)   (3) 03/01/2009 Common Stock 5,306 $ 21.995 D  
Non-Qualified Stock Option (right to buy) 03/01/2006 03/01/2010 Common Stock 144 $ 19.65 D  
Non-Qualified Stock Option (right to buy)   (4) 03/01/2009 Common Stock 7,034 $ 21.995 D  
Non-Qualified Stock Option (right to buy) 02/01/2005 02/01/2009 Common Stock 70,000 $ 22.85 D  
Non-Qualified Stock Option (right to buy)   (5) 03/01/2011 Common Stock 5,730 $ 28.375 D  
Non-Qualified Stock Option (right to buy)   (6) 03/01/2012 Common Stock 5,570 $ 29.175 D  
Non-Qualified Stock Option (right to buy)   (7) 03/01/2014 Common Stock 12,000 $ 32.21 D  
Non-Qualified Stock Option (right to buy)   (8) 03/01/2013 Common Stock 18,000 $ 34.16 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Peace Nelson B
1000 LOWE'S BOULEVARD
MOORESVILLE, NC 28117		       SVP Corporate Affairs  

Signatures

By: Sandra Felton For: Nelson B. Peace 03/30/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each unit is the equivalent of one share of common stock. In accordance with the terms of the Benefit Restoration Plan, the value of the units becomes payable in cash following the reporting person's termination.
(2) 486 of the 5,574 incentive stock options became exercisable on 3/1/05, and 5,088 became exercisable on 3/1/06.
(3) 1,194 of the 5,306 incentive stock options became exercisable on 3/1/04, and 4,112 became exercisable on 3/1/05.
(4) 4,114 of the 7,034 non-qualified stock options became exercisable on 3/1/03, and 2,920 became exercisable on 3/1/04.
(5) The option vests in three equal annual installments beginning on March 1, 2005.
(6) The option vests in three equal annual installments beginning on March 1, 2006.
(7) The option vests in three equal annual installments beginning on March 1, 2008.
(8) The option vests in three equal annual installments beginning on March 1, 2007.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.