-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BCUjtnFtyZzzYiwWl7EAgCz/tGQ2Dlv+U+ny2gnv+0fuGAFEAu8EQZJHclr81+6Y SOJVGYsRggPAtVJoQnG4+Q== 0000950137-02-002676.txt : 20020503 0000950137-02-002676.hdr.sgml : 20020503 ACCESSION NUMBER: 0000950137-02-002676 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020502 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRUSERV CORP CENTRAL INDEX KEY: 0000025095 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER, PLYWOOD, MILLWORK & WOOD PANELS [5031] IRS NUMBER: 362099896 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-18397 FILM NUMBER: 02632448 BUSINESS ADDRESS: STREET 1: 8600 WEST BRYN MAWR AVE CITY: CHICAGO STATE: IL ZIP: 60631-3505 BUSINESS PHONE: 7736955000 MAIL ADDRESS: STREET 1: 8600 W. BRYN MAWR AVENUE CITY: CHICAGO STATE: IL ZIP: 60631-3505 FORMER COMPANY: FORMER CONFORMED NAME: COTTER & CO DATE OF NAME CHANGE: 19920703 8-K 1 c69319e8-k.txt CURRENT REPORT 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) May 2, 2002 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 first quarter earnings. Matters discussed in the attached press release contain 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 May 2, 2002 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: May 3, 2002 By /s/ David A. Shadduck ---------------------------------- Name: David A. Shadduck Title: Senior Vice President and Chief Financial Officer EX-99.1 3 c69319ex99-1.txt PRESS RELEASE, DATED 5/2/02 Exhibit 99.1 [TRUSERV LOGO] EARNINGS RELEASE For more information contact: Shelley Hughes TruServ Corporation (773) 695-5258 TRUSERV REPORTS FIRST QUARTER EARNINGS RESTRUCTURING ACTIONS DELIVERING RESULTS CHICAGO, MAY 2, 2002 - TruServ Corporation reported today net earnings for the quarter ended March 30, 2002 of $4.6 million, an $18.5 million improvement compared with a loss of $13.9 million for the same period a year ago. Net earnings for the month of March were $2.1 million, versus a net loss of $2.3 million for the same period a year ago, which is a profit improvement of $4.4 million. Revenue for the quarter was $553.2 million, down 15.5 percent from $654.3 million, for the same period a year ago. Almost half of this revenue decline is the result of the co-op's disposition of its lumber and Canadian businesses. Revenue for the month of March was $218.7 million, down 12.2 percent from $249.0 million for the same period a year ago. President and Chief Executive Officer Pamela Forbes Lieberman attributed the principal portion of the profit improvements to aggressive reductions in selling, general and administrative expenses. "Last fall we committed to our retailers that we would lower our infrastructure costs," said Forbes Lieberman. "Our first quarter results show that we're doing that. We made some tough decisions about staffing levels and distribution center closures in 2001 and we are pleased to start seeing the benefits." TruServ, headquartered in Chicago, is one of the world's largest member-owned wholesale hardware cooperatives with sales of $2.6 billion in 2001. The TruServ cooperative includes approximately 7,000 independent retailers worldwide operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply. Additional information on TruServ and its retail identities is available at www.truserv.com. 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. ### -----END PRIVACY-ENHANCED MESSAGE-----