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) May 17, 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
April, 2002 financial results.

Matters discussed in the attached press release may 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 17, 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 20, 2002               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


                                        For more information contact:
                                        Shelley Hughes
                                        TruServ Corporation
                                        (773) 695-5258


                         TRUSERV REPORTS APRIL EARNINGS
                 CO-OP REPORTS PROFIT FOR FOURTH MONTH IN A ROW


     CHICAGO, MAY 17, 2002 - TruServ Corporation reported today net income of
$600,000 for the month ended April 27, 2002 compared to a net loss of $2 million
for the same period a year ago--a profit improvement of $2.6 million. The co-op
reported revenue of $189 million for the month compared to $207.4 million for
the same period a year ago.

     TruServ also reported year-to-date net income of $5.2 million versus a net
loss of $15.9 million for the same period a year ago--a profit improvement of
$21.1 million on year-to-date revenue of $742.3 million versus $861.7 for the
same period a year ago. Approximately $54 million of the year-to-date sales
decline reflects the effect of the sales of the lumber business and the Canadian
business.

     President and Chief Executive Officer Pamela Forbes Lieberman said that
operations in April continued to generate earnings for the co-op even with more
than $500,000 of financial amendment closing costs incurred in the month.

     "We are delivering on our business plan," said Forbes Lieberman. "By
streamlining operations, reducing expenses and improving productivity, we are
able to report four consecutive months of profit. We are committed to
maintaining this momentum."

     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 7,100 independent retailer
locations 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.

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