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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  GFELLER ROBERT J JR
 2. Date of Event Requiring Statement (Month/Day/Year)
01/29/2011		 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)
EVP Merchandising
 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 59,000
D
 
Common Stock 2,417.407
I
By 401k Plan
Common Stock 28,613
I
By Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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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 1,977.585 $ 0 D  
Non-Qualified Stock Option (right to buy)   (2) 03/01/2016 Common Stock 45,333 $ 15.84 D  
Non-Qualified Stock Option (right to buy)   (3) 03/01/2015 Common Stock 27,000 $ 23.97 D  
Non-Qualified Stock Option (right to buy)   (4) 03/01/2017 Common Stock 44,000 $ 23.98 D  
Non-Qualified Stock Option (right to buy) 03/01/2007 03/01/2011 Common Stock 21,150 $ 28.375 D  
Non-Qualified Stock Option (right to buy) 03/01/2008 03/01/2012 Common Stock 20,290 $ 29.175 D  
Non-Qualified Stock Option (right to buy) 03/01/2010 03/01/2014 Common Stock 16,000 $ 32.21 D  
Non-Qualified Stock Option (right to buy) 03/01/2009 03/01/2013 Common Stock 22,000 $ 34.16 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GFELLER ROBERT J JR
1000 LOWE'S BOULEVARD
MOORESVILLE, NC 28117		       EVP Merchandising  

Signatures

By: Sandra Felton For: Robert J. Gfeller, Jr. 02/04/2011
**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) Option vests in three annual installments beginning March 1, 2010.
(3) Option vests in three annual installments beginning March 1, 2009.
(4) Option vests in three annual installments beginning March 1, 2011.

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