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) December 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
November, 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 December 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: December 27, 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


                              [TRU*SERV (TM) LOGO]
                                EARNINGS RELEASE


                        TRUSERV REPORTS NOVEMBER EARNINGS
        MONTHLY EARNINGS BEAT PRIOR YEAR'S RESULTS EVEN WITH LOWER SALES


CHICAGO, DEC. 20, 2001 - TruServ Corporation reported today revenue for the
month ended Nov. 24, 2001 of $192.7 million, down 7.0 percent from $207.2
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 30.9 percent.
     The co-op reported net income for the month of $1.2 million, versus a loss
of $0.4 million in the same period a year ago, after excluding the earnings of
the divested lumber business. When you include the $0.7 million of direct
earnings from the lumber business, last year's results for the month of November
was income of $0.3 million. This November's income included $0.9 million of
nonrecurring legal and refinancing costs.
     Pamela Forbes Lieberman, TruServ's President and Chief Executive Officer,
said that cost reductions, coupled with higher concentration of purchases from
our members, are having the desired effect on operations.
     "Operations in November continued to generate positive earnings for the
co-op," said Forbes Lieberman. "Our business plan to streamline operations,
reduce expenses and improve productivity is working."
     Forbes Lieberman reiterated that TruServ is on track to secure a new
financing agreement in 2001 but cautioned that one-time restructuring charges in
December, principally due to the closing of the Hagerstown, Md., distribution
center, will result in a substantial loss for the year.
     "Operationally, we're considerably stronger today than we were a year ago,"
she said. "The path to sustainable profitability is being paved this year as we
restructure the size of our distribution network, secure long-term financing and
rightsize our corporate staffing levels."
     Forbes Lieberman also pointed to a significant reduction in TruServ's
senior note and revolver debt as a sign of forward momentum.
     "At the end of November, senior note and revolver debt, net of available
cash on hand, was $357.4 million, down 26 percent compared with $483.3 million
outstanding at November month end a year ago.




November Earnings Release          Page 1

MONTH OF NOVEMBER SUMMARY RESULTS
($ in millions)



                                                                      $         %
                                                 2001      2000     Change    Change
                                               --------  --------   -------   -------

                                                                  
Comparative Revenue                            $  192.7  $  207.2   $ (14.5)    -7.0%
                     Lumber Business Revenue   $      -  $   71.8   $ (71.8)
                                               --------  --------   -------
Reported Revenue                               $  192.7  $  279.0   $ (86.3)   -30.9%


Comparative Net Income /(Loss)                 $    2.1  $   (0.4)  $   2.5        nm
            Direct Lumber Business Earnings    $      -  $    0.7   $  (0.7)

            Refinancing & Unusual Legal Fees   $   (0.9) $      -   $  (0.9)
                                               --------  --------   -------
Reported Net Income                            $    1.2  $    0.3   $   0.9      400%



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 is incorporated into this news release by reference.

                                       ###


November Earnings Release          Page 2