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) August 1, 2003

                              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
second quarter 2003 earnings.

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 August 1, 2003


                                   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 8, 2003                        By /s/ David A. Shadduck
                                            ----------------------------------
                                            Name: David A. Shadduck
                                            Title: Senior Vice President and
                                                     Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1
                                [TRU-SERV LOGO]

                                EARNINGS RELEASE

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

            TRUSERV ANNOUNCES FIRST HALF AND SECOND QUARTER EARNINGS
                     CO-OP REPORTS CONTINUED DEBT REDUCTION

         CHICAGO, AUG. 1, 2003 - TruServ Corporation reported today June 28,
2003 year-to-date net margin of $20.8 million versus $15.1 million for the same
six-month period a year ago--a profit improvement of $5.7 million on
year-to-date revenue of $1.0 billion versus $1.1 billion for the same period a
year ago.

         TruServ also reported a net margin of $24.7 million for the quarter
ended June 28, 2003, versus $10.4 million for the same period a year ago. The
co-op also reported $566.5 million in revenue for the quarter, down from $588.0
million for the same period a year ago.

         The co-op reported a net margin of $7.7 million for the month ended
June 28, 2003 compared to $6.9 million for the same period a year ago. TruServ
reported revenue of $214.8 million for the month, a slight increase compared to
$214.4 million for the same period a year ago.

         President and Chief Executive Officer Pamela Forbes Lieberman said, "We
continue to lower the breakeven point of our business through a variety of
initiatives, while enhancing our product and service offerings to the
membership. Our second quarter earnings were favorably impacted by $6.9 million
of accelerated gain amortization due to the April exit of our BMA non-compete
agreements."

          "Our total debt on June 28, was $219.8 million and was $208.9 million
below our total debt level of $428.7 million at the same time last year," said
Chief Financial Officer Dave Shadduck. "And for the first time since before the
merger in mid-1997, we didn't have any month-end borrowings on our revolving
credit facility."

         TruServ, headquartered in Chicago, is one of the world's largest
member-owned wholesale hardware cooperatives with sales of $2.2 billion in 2002.
The TruServ cooperative includes approximately 6,400 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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