8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    Form 8-K

                             Current Report Pursuant
                          to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of report (Date of earliest event reported) August 20, 2001

                               TRUSERV CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)

                                    DELAWARE
                 (State or Other Jurisdiction of Incorporation)

        2-20910                                         36-2099896
(Commission File Number)                    (I.R.S. Employer Identification No.)

8600 WEST BRYN MAWR AVENUE, CHICAGO, ILLINOIS                         60631-3505
  (Address of Principal Executive Offices)                            (Zip Code)

                                  773-695-5000
              (Registrant's Telephone Number, Including Area Code)

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)


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Item 5. Other events.

TruServ Corporation issued the attached press release in connection with its
July, 2001 financial results.

Matters discussed in the attached press release are forward-looking statements
within the meaning of the safe-harbor provisions of the Securities Exchange Act
of 1934. These forward-looking statements are subject to various risks and
uncertainties. Actual results may vary materially from the expectations
contained therein. The factors that could cause actual results to differ
materially from the projections, forecasts, estimates and expectations discussed
therein may include factors that are beyond the company' ability to control or
estimate precisely, such as the ultimate requirements of the company's lenders,
projections about the efficiencies that may be achieved by the company's
initiatives, expectations about member response to the company initiatives,
estimates of future market conditions in the hardware industry, the behavior of
other market participants in the industry and the actions and economic
conditions in the service territories of the company's members. Other risk
factors are detailed from time to time in the company's SEC reports. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as to the date of this document. The company does not undertake any
obligation to publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date of this letter.

Item 7. Exhibit

99.1    Press release, dated August 20, 2001





SIGNATURES

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.


                                            TRUSERV CORPORATION
                                            (Registrant)




Date: August 21, 2001                       By /s/ Pamela Forbes Lieberman
                                            ----------------------------------
                                            Name:  Pamela Forbes Lieberman
                                            Title: Chief Operating Officer,
                                            Chief Financial Officer and
                                            Senior Vice President



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EX-99.1

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                                 [TRU-SERV LOGO]

                                EARNINGS RELEASE


                          TRUSERV REPORTS JULY RESULTS


CHICAGO, AUGUST 20, 2001 -- TruServ Corporation reported today revenue for the
month ended July 28, 2001 of $199.5 million, down 6.6 percent after excluding
net sales from the lumber business, sold in December of 2000. Revenue compared
to the same period a year ago, which includes the lumber business was down 32.4
percent.
         The co-op reported a net loss for the month of $2.3 million, versus a
loss of $0.1 million in the same period a year ago. After excluding the direct
earnings of $1.2 million from the lumber business in July of last year and after
excluding restructuring charges of $0.1 million and unusual legal and
refinancing costs of $0.8 million incurred in July of this year, on a
comparative basis, the net loss was only $0.1 million greater than a year ago.
         An improved mix of warehouse sales versus manufacturer direct sales to
members, together with the effect of cost reductions partially offset the loss
increase from lower overall volumes. Reductions in both corporate staff and the
distribution network, together with lower advertising expense, all helped in
reducing the co-op's ongoing costs.
         TruServ's membership decline in the first seven months lessened by 1.1
percent compared with the same period last year.
         "We were especially encouraged to see an increase in handled hardware
and paint revenue of $2.2 million on a same store basis," said Pamela Forbes
Lieberman, Chief Operating Officer and Chief Financial Officer. "Our members are
clearly pulling the volume lever and we'll continue to pull the efficiency
lever."
         Senior note and revolver debt was $409 million at the end of July,
compared with $510 million outstanding at July month end a year ago.
         "Our re-financing process continues on track," said Lieberman, "and we
anticipate receiving an extension to our current lenders' reservation of rights
letters by the end of August."
         The original letters, which are still in force, have been extended
several times previously.


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July Earnings Report
August 20, 2001

- --------------------------------------------------------------------------------

MONTH OF JULY SUMMARY RESULTS
($ IN MILLIONS)
                                          July      July        $        %
                                          2001      2000     Change    Change
                                        -------   -------   --------   ------

Comparative Revenue                     $ 199.5   $ 213.5   $ (14.0)     -6.6%
         Lumber Business Revenue        $    --   $  81.7   $ (81.7)
                                        -------   -------   -------
Reported Revenue                        $ 199.5   $ 295.2   $ (95.7)    -32.4%


Comparative Net Loss                    $  (1.4)  $  (1.3)  $  (0.1)     -7.7%
         Lumber Business Earnings       $     -   $   1.2   $  (1.2)
            Restructuring Expense       $  (0.1)  $     -   $  (0.1)
 Unusual Refinancing and Legal Fees     $  (0.8)  $     -   $  (0.8)
                                        -------   -------   -------
Reported Net Loss                       $  (2.3)  $  (0.1)  $  (2.2)        nm

- --------------------------------------------------------------------------------


This earnings release may contain forward-looking statements that involve risks
and uncertainties. The following factors could cause results to differ
materially from management expectations as projected in such forward-looking
statements: seasonal variations, competition, risks of new business areas, the
availability and cost of real estate and construction, and changes in federal or
state legislation or regulations. Members are referred to the "Cautionary" Note
Regarding Forward-Looking Statements" in the Company's most recent Form 10-K
which Note is incorporated into this news release by reference.

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