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 14, 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
third 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 November 14, 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: November 17, 2003                     By /s/ David A. Shadduck
                                            ----------------------------------
                                            Name: David A. Shadduck
                                            Title: Senior Vice President and
                                                       Chief Financial Officer



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EX-99.1

                                                                    Exhibit 99.1

                                [TRU-SERV LOGO]

                                EARNINGS RELEASE

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

                     TRUSERV ANNOUNCES THIRD QUARTER RESULTS
           Truserv reports year-to-date margin of $11.0 million after
                          covering costs to refinance


         CHICAGO, NOV. 14, 2003- TruServ Corporation reported today Sept. 27,
2003 year-to-date net margin of $11.0 million (after a $19.2 million charge
related to the refinancing of senior debt) versus $21.0 million for the same
nine-month period a year ago and year-to-date revenue of $1.5 billion, versus
$1.6 billion for the same period a year ago.

         For the third quarter TruServ reported a net loss of $9.8 million, due
entirely to the $19.2 million charge associated with the financing. This
compares to a net margin of $5.9 million for the same period a year ago. The
co-op reported $478.8 million in revenue for the quarter, down from $499.8
million for the same period a year ago.

         President and Chief Executive Officer Pamela Forbes Lieberman said,
"Given the progress our co-op has made, we were able to refinance our debt at an
all in current rate of 4 1/2 percent versus 13 percent. This new financing will
save our co-op approximately $7 million of interest and amortization costs for
the balance of this year and approximately $18 million next year. In order to
achieve these savings in the third quarter, we expensed $19.2 million of costs
associated with our former financing agreement. We will be able to use our
interest savings to stimulate co-op growth and help our members' success at
retail. We are already starting to see an improvement in our sales trend."

         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 6,200 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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