8-K

                       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) November 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)







Item 5. Other Events.

TruServ Corporation issued the attached press release in connection with its
October, 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's 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 November 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: November 21, 2001                     By /s/ David A. Shadduck
                                            ----------------------------------
                                            Name: David A. Shadduck
                                            Title: Senior Vice President and
                                                       Chief Financial Officer




                                      -2-

EX-99.1

                                                                    EXHIBIT 99.1

                                 [TRUSERV LOGO]


                                EARNINGS RELEASE


                        TRUSERV REPORTS OCTOBER EARNINGS
               CO-OP POSTS $8.7 MILLION PROFIT DESPITE LOWER SALES


CHICAGO, NOV. 20, 2001 - TruServ Corporation reported today revenue for the
month ended Oct. 27, 2001 of $199.4 million, down 13.1 percent from $229.6
million, after excluding net sales from the lumber business, which was sold in
December of 2000. Revenue compared to the same period a year ago, which includes
the lumber business, was down 35.1 percent.

         Despite lower sales volume, TruServ reported net income for the month
of $8.7 million, versus a loss of $3.6 million in the same period a year ago,
after factoring out the earnings from the lumber business. The loss for last
October, including the lumber earnings, was $2.6 million.

         Several factors contributed to the improved earnings, including a
higher percentage of warehouse sales versus manufacturer direct sales to members
and strong earnings from TruServ's Fall Market held in October. Last year's Fall
Market was held in September.

         "When you combine higher concentration of purchases through the
warehouse with the effect of cost reductions," said Pamela Forbes Lieberman,
TruServ's president and chief executive officer, "the results more than offset
the impact from lower overall volumes."

         Reductions in both corporate staff and the distribution network,
together with lower advertising expense, also helped in reducing the co-op's
ongoing costs.

         "Our improving results are the direct result of our aggressive business
plan," said Forbes Lieberman. "Every associate at TruServ is focused on
successfully completing our 10 key initiatives because we know that their
successful implementation will build the foundation of our return to sustainable
profitability and market growth."

         Forbes Lieberman pointed to TruServ's much-improved earnings as a sign
that things are turning around at the co-op. "TruServ has operated at an
aggregate profit since



October Earnings Release             Page 1                             11/21/01




the first of May. We have reduced an April year-to-date net loss of $15.9
million to an October year-to-date net loss of $5.2 million."

         Another key indicator that the co-op is moving in the right direction
can be tracked to the company's debt levels. Senior note and revolver debt, net
of available cash on hand, was $369 million at the end of October, down 21
percent compared with $467 million outstanding at October month end a year ago.

OCTOBER SUMMARY RESULTS
($ in millions)



                                                                                    $             %
                                                        2001         2000         Change        Change
                                                     ----------   ----------    ----------    ----------
                                                                                  
Comparative Revenue                                  $    199.4   $    229.6    $    (30.2)       -13.1%
             Lumber Business Revenue                 $       --   $     77.6    $    (77.6)
                                                     ----------   ----------    ----------
Reported Revenue, Including Lumber                   $    199.4   $    307.2    $   (107.8)       -35.1%


Comparative Net Income /(Loss)                       $      8.7   $     (3.6)   $     12.3        341.7%
             Direct Lumber Business Earnings         $       --   $      1.0    $     (1.0)          --
Reported Net Income (Loss)                           $      8.7   $     (2.6)   $     11.3        434.6%



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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