SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                                 FORM 10-Q

                  QUARTERLY REPORT UNDER SECTION 13 or 15(d)
                    OF THE SECURITIES EXCHANGE ACT OF 1934



[x] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

For the quarterly period ended September 29, 2001,March 30, 2002 

[] Transition Report Pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

For the transition period from_____to______

Commission File Number  2-63880


ACE HARDWARE CORPORATION

         (Exact name of registrant as specified in its charter)


                               DELAWARE36-0700810           & nbsp;         
   (State or other jurisdiction of                (I.R.S. Employer
    incorporation or organization)                Identification No.)

      2200 Kensington Court, Oak Brook, IL                 60523   

      (Address of principal executive offices)            (Zip code)



(630) 990-6600
(Registrant's          (Registrant's telephone number, including area code)


Not Applicable

(Former name, former address and former fiscal year, if changed since last 
report.)




Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed 
by Section 13 or 15(d) of the Securities Exchange Act 
of 1934 during the preceding 12 months (or for such shorter period that 
the registrant was required to file such reports), and (2) has been 
subject to such filing requirements for the past 90 days.  YES [x] NO [] 

Indicate the number of shares outstanding of each of the issuer's classes 
of common stock, as 
of the close of the latest practicable date.


                 Class                 Outstanding at September 29, 2001March 30, 2002 
Class A Voting Stock - $1,000 par value             3,7173,695  shares
Class B Stock        - $1,000 par value             2,1362,064  shares
Class C Stock        - $  100 par value         2,622,8952,802,047  shares


ACE HARDWARE CORPORATION

                                 INDEX



ACE HARDWARE CORPORATION

INDEX



Part I. - Financial Information:                                Page No.



 Item 1. Condensed Consolidated Financial Statements


     Condensed Consolidated Balance Sheets -  
         September         March 30, 2002 and December 29, 2001                      and December 30, 2000                            1

     Condensed Consolidated Statements of Earnings and
         Condensed Consolidated Statements of Comprehensive
         Income - Thirty-nine Weeks and Thirteen Weeks Ended March 30, 2002
         September 29,         and March 31, 2001                                        and September 30, 2000                           2

     Condensed Consolidated Statements of Cash Flows -  
         Thirty-nine         Thirteen Weeks Ended September 29,March 30, 2002 
         and March 31, 2001                                        
         and September 30, 2000                                              3

     Notes to Condensed Consolidated Financial Statements        4 - 5


 Item 2. Management's Discussion and Analysis of Financial
     Condition and Results of Operations                         6 - 87


 Item 3. Quantitative and Qualitative Disclosures About
     Market Risk                                                   98 


Part II. - Other Information                                          


 Item 1. Legal Proceedings                                         109

 Item 2. Changes in Securities and Use of Proceeds                 109

 Item 3. Defaults Upon Senior Securities                           109

 Item 4. Submission of Matters to a Vote of Security Holders       109

 Item 5. Other Information                                         109

 Item 6. Exhibits and Reports on Form 8-K                          109








PART I.I FINANCIAL INFORMATION
ACE HARDWARE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETSSHEET
(000's                                      (000's omitted)


                                                           SeptemberMarch 30,       December 29,    December 30,
    2002       2001    2000    
                                                         (Unaudited)

ASSETS


Current Assets:assets:
   Cash and Cash Equivalentscash equivalents                             $   25,62620,587        $   24,64425,213
   Short-term Investments                                       12,860           12,772investments                                    18,046            17,158
   Accounts Receivable, Net                                    329,335          372,971Receivables, net                                         379,633           369,035
   Merchandise Inventory                                       456,760          395,565inventory                                    435,287           412,568
   Prepaid Expensesexpense and Other Current Assetsother current assets                  17,86117,806            15,10516,295 

     Total Current Assets                                     842,442          821,057current assets                                   871,359           840,269

Property and Equipment, Net                                    292,660          261,890equipment, net                                 282,509           287,507
Other Assetsassets                                                 41,99643,722            40,86341,015 

Total Assets                                               $ 1,177,098      $ 1,123,810                                                         $1,197,590        $1,168,791 
                                                         ============     =======================       ===========

LIABILITIES AND MEMBER DEALERS' EQUITY


Current Liabilities:
   Current Installmentinstallments of Long-Term Debtlong-term debt                $    7,0917,175        $    6,9047,179
   Short-Term Borrowings                                        78,500           81,500Short-term borrowings                                    104,400            72,600
   Accounts Payable                                            433,348          448,766payable                                         429,225           409,789
   Patronage Dividends Payabledividends payable in Cash                          23,190           34,764cash                       39,571            34,229
   Patronage Refund Certificates Payable                         9,089            4,795refund certificates payable                     13,276             9,084
   Accrued Expensesexpenses                                          75,66464,050            63,22481,062 

     Total Current Liabilities                                626,882          639,953current liabilities                              657,697           613,943

Long-Term Debt                                                 172,864          105,891Long-term debt                                              170,160           170,387
Patronage Refund Certificates Payable                           70,257           68,385refund certificates payable                        66,900            77,401
Other Long-Term Liabilitieslong-term liabilities                                  27,77027,811            24,92327,184 

     Total Liabilities                                        897,773          839,152liabilities                                      922,568           888,915

Member Dealers' Equity:dealers' equity:
   Class A Stock of $1,000 Par Value                            3,918            3,783par value                          3,761             3,693
   Class B Stock of $1,000 Par Valuepar value                          6,499             6,499
   Class C Stock of $100 Par Value                            274,355          250,480par value                          260,511           260,224
   Class C Stock of $100 Par Value, Issuable                   15,037           24,267par value, issuable to
      dealers for patronage dividends                        26,917            23,284
   Additional Stock Subscribed, Net of Unpaid Portion              317              351stock subscribed, net                             303               303
   Retained Deficit                                            (12,060)          (5,551)deficit                                         (22,571)          (17,591)
   Contributed Capitalcapital                                       13,485            13,485
   Accumulated Other Comprehensive Incomeother comprehensive loss                      (1,234)(1,356)           (162)(1,239)

                                                               300,317          293,152                                                            287,549           288,658
Less: Treasury Stock, at Costcost                               (20,992)(12,527)           (8,494)(8,782)

     Total Member Dealers' Equity                             279,325          284,658member dealers' equity                           275,022           279,876

                                                         $1,197,590        $1,168,791
                                                         ===========       ===========


See accompanying notes to condensed consolidated financial statements.



ACE HARDWARE CORPORATION
                     CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                   (000'S OMITTED)
                                     (Unaudited)

    Thirteen Weeks Ended    

                                                          March 30,          March 31,
  2002     2001

Net sales                                                 $707,167           $672,826
Cost of sales                                              646,959  612,978 

     Gross profit                                           60,208             59,848

Operating expenses:
     Warehouse and distribution                              9,242             10,768
     Selling, general, and administrative                   21,342             23,304
     Retail success and development                         18,110   18,575 

Total Liabilitiesoperating expenses                               48,694   52,647 


     Operating Income                                       11,514              7,201

     Interest expense                                       (5,714)            (5,603)
     Other income, net                                       2,334              3,210
     Income taxes                                              126      228 

Net earnings                                              $  8,260           $  5,036
                                                          =========          =========
Distribution of Net Earnings:
     Patronage dividends                                  $ 13,240           $  8,210
     Retained deficit                                       (4,980)  (3,174)

Net Earnings                                              $  8,260           $  5,036
                                                          =========          =========

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                   (000'S Omitted)
                                     (Unaudited)

    Thirteen Weeks Ended    

                                                          March 30,          March 31,
  2002     2001

Net earnings                                              $  8,260           $  5,036
Unrealized gains on securities                                 (62)               339
Foreign currency translation, net                              (55)            (1,180)                                                          

Comprehensive income                                      $  8,143           $  4,195 
                                                          =========          =========

See accompanying notes to condensed consolidated financial statements.



ACE HARDWARE CORPORATION
                    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (000'S omitted)
                                     (Unaudited)

    Thirteen Weeks Ended    

                                                          March 30,          March 31,
  2002     2001

Operating Activities:
     Net earnings                                         $  8,260           $  5,036

     Adjustments to reconcile net earnings
     to net cash provided by operating activities
           Depriciation and Member Dealers' Equityamortization                     7,984              6,788
           Increase in accounts receivable, net            (10,598)            (7,980)
           Increase in inventories                         (22,719)            (9,542)
           Decrease (increase) in prepaid expenses and
            other current assets                            (1,548)               234
           Increase (decrease) in accounts payable and
            accrued expenses                                 2,424            (10,834)
           Increase in other long-term liabilities             627    1,011 

     Net Cash Used in Operating Activities                 (15,570)           (15,287)

Investing Activities:
           Purchase of short-term investments                 (888)                -  
           Purchase of property and equipment               (2,949)            (9,126)
           Increase in other assets                         (2,824)  (2,364)

     Net Cash Used in Investing Activities                  (6,661)           (11,490)

Financing Activities:
           Proceeds of short-term borrowings                31,800             38,000
           Payments of long-term debt                         (231)              (341)
           Payments of patronage refund certificates
            and patronage financing deductions             (10,574)            (6,599)
           Proceeds from sale of common stock                  355                308
           Repurchase of common stock                       (3,745)  (5,765)

     Net Cash Provided by Financing Activities              17,605   29,095 

Decrease in Cash and Cash Equivalents                       (4,626)            (1,174)

Cash and Cash Equivalents at beginning of period            25,213   24,644 

Cash and Cash Equivalents at end of period                $ 1,177,09820,587           $ 1,123,81023,470
                                                          ============     =====================          =========


See accompanying notes to condensed consolidated financial statements.







ACE HARDWARE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(000's omitted)
(Unaudited)


    Thirteen Weeks Ended    Thirty-nine Weeks Ended   

                                        September 29,  September 30,  September 29,  September 30,
    2001         2000         2001         2000     

Net Sales                               $    707,998   $    718,933   $  2,159,826   $  2,227,058
Cost of Sales                                636,639      648,615    1,956,806    2,019,848 
    Gross Profit                              71,359         70,318        203,020        207,210

Operating Expenses:
    Warehouse and Distribution                 7,326          7,274         23,238         21,372
    Selling, General and Administrative       20,638         21,613         65,671         67,389
    Retail Success and Development            17,510       16,307       55,574       51,100 
    Total Operating Expenses                  45,474       45,194      144,483      139,861 

    Operating Income                          25,885         25,124         58,537         67,349

    Interest Expense                          (5,715)        (5,842)       (17,311)       (15,808)
    Other Income, net                          3,096          3,043         10,629         10,016
    Income Taxes                                (412)          60       (1,790)         718 
Net Earnings                            $     22,854   $     22,385   $     50,065   $     62,275
                                        =============  =============  =============  =============
Distribution of Net Earnings:
    Patronage Dividends                 $     23,715   $     23,153   $     56,574   $     64,818
    Retained Earnings                           (861)        (768)      (6,509)      (2,543)
Net Earnings                            $     22,854   $     22,385   $     50,065   $     62,275
                                        =============  =============  =============  =============



CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(000's omitted)
(Unaudited)


    Thirteen Weeks Ended       Thirty-nine Weeks Ended  

                                        September 29,  September 30,  September 29,  September 30,
    2001         2000         2001         2000     

Net Earnings                            $     22,854   $     22,385   $     50,065   $     62,275
Unrealized gains on securities                   133            -               53            -
Foreign currency translation, net               (769)        (402)      (1,125)        (959)
Comprehensive Income                    $     22,218   $     21,983   $     48,993   $     61,316
                                        =============  =============  =============  =============

See accompanying notes to condensed consolidated financial statements.






ACE HARDWARE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(000's omitted)
(Unaudited)


   Thirty-Nine Weeks Ended  

                                                                      September 29,  September 30,
    2001           2000   

Operating Activities:
            Net Earnings                                              $     50,065   $     62,275

    Adjustments to reconcile net earnings
    to net cash used in operating activities:
            Depreciation and amortization                                   21,240         18,757
            Gain on sale of property and equipment, net of                  
             deferred taxes of $1,587                                       (3,079)           -
            Decrease (increase) in accounts receivable, net                 35,384         (6,449)
            Increase in inventories                                        (61,195)       (69,747)
            Increase in other current assets                                (2,849)        (2,149)
            Increase (decrease) in accounts payable and
             accrued expenses                                               (2,978)           486
            Increase in other long-term liabilities                          2,847        2,314 
    Net Cash Provided by Operating Activities                               39,435          5,487

Investing Activities:
            Purchase of property and equipment                             (48,838)       (36,974)
            Proceeds from sale of property and equipment                       -            9,664  -
            Increase in other assets                                        (2,293)     (14,320)
    Net Cash Used in Investing Activities                                  (51,131)       (41,630)

Financing Activities:
            Proceeds (payments) of short-term borrowings                    (3,000)        98,928
            Proceeds from issuance of long-term debt                        70,000            -
            Principal payments on long-term debt                            (2,840)        (2,679)
            Payments of patronage refund certificates                       (5,381)          (400)
            Proceeds from sale of common stock                               1,161          1,477
            Repurchase of common stock                                     (12,498)       (10,859)
            Payments of cash portion of patronage dividend                 (34,764)     (38,173)
    Net Cash Provided by Financing Activities                               12,678       48,294 
Increase in Cash and Cash Equivalents                                          982         12,151

Cash and Cash Equivalents at Beginning of Period                            24,644       35,422 

Cash and Cash Equivalents at End of Period��                           $     25,626   $     47,573
                                                                      =============  =============

See accompanying notes to condensed consolidated financial statements.



ACE HARDWARE CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS




1) General

The condensed consolidated interim period financial statements 
presented herein do not include all of the information and 
disclosures required in annual financial statements and 
have not 
been audited, as permitted by the rules and regulations of the 
Securities and 
Exchange Commission. The condensed consolidated 
interim period financial statements should 
be read in conjunction 
with the annual financial statements included in the Ace Hardware 
Corporation Annual Report on Form 10-K as filed with the 
Securities and Exchange Commission on March 22, 2001.2002. In the opinion 
of management, these financial statements have been 
prepared in 
conformity with accounting principles generally accepted in the 
United States 
of America and reflect all adjustments necessary for 
a fair statement of the results of operations and 
cash flows for 
the interim periods ended September 29,March 30, 2002 and March 31, 2001 and September 30, 2000 and of 
the Company's financial position as of September 29, 2001.March 30, 2002. All such 
adjustments are of a 
normal recurring nature. The results of 
operations for the thirteen week and thirty-nine 
week periods ended September 29,March 30, 2002 and 
March 31, 2001 and September 30, 2000 are not necessarily indicative 
of the results of 
operations for a full year.

2) Patronage Dividends

The Company operates as a cooperative organization and will pay 
patronage dividends to 
consenting member dealers based on the earnings 
derived from business done with such 
dealers.  It has been the practice 
of the Company to distribute substantially all 
patronage sourced 
earnings in the form of patronage dividends. 

Net earnings and patronage dividends will normally be similar since 
patronage sourced 
net earnings areis paid to consenting member dealers.  
International operations and 
dealers signed under a Retail Merchant Agreement are not 
eligible for patronage 
dividends and related earnings or losses are not 
included in patronage sourced 
earnings.

3) Reclassifications

Certain financial statement reclassifications have been made to prior year and prior 
quarter amounts to conform to comparable classifications followed in 2001.2002.  During 2002, the Company reclassified as sales and 
cost of sales certain shipping and handling costs that had previously been presented on a net basis within warehouse and distribution expenses.

4) Segments

The Company is principally engaged as a wholesaler of hardware and 
related products and manufactures paint products.  The Company 
identifies segments based on management responsibility and the nature of the business activities of each component of the 
Company. The Company measures segment earnings as operating earnings including an 
allocation for administrative expenses, interest expense and income taxes. The net sales from external customers included in the other category are primarily generated from company-owned retail locations.  Information
regarding the identified segments and the related reconciliation to consolidated 
information is as follows:




                                                        Thirty-Nine

Thirteen Weeks Ended
                         September 29, 2001                                                  March 30, 2002                      

                                                                    EliminationEliminated
                                                  Paint            Intersegment
WholesaleManufacturingOtherActivitiesConsolidated
Net Sales from External Customers  2,105,557         13,921   40,348$ 690,920  $      5,613  $10,634 $      -    2,159,826$   707,167
Intersegment Sales                     19,850         89,6284,225        30,760       -    (109,478)(34,985)           -
Segment Earnings (Loss)                41,707         10,420   (1,822)         (240)           50,0658,012         3,957   (3,709)        -         8,260


                                                        Thirty-Nine                                                     Thirteen Weeks Ended
                         September                     March 30, 2000                             2002                      

                                                                    EliminationEliminated
                                                  Paint            Intersegment
WholesaleManufacturingOtherActivitiesConsolidated
Net Sales from External Customers  2,177,560         16,687   32,811$ 657,261  $      4,152  $11,411 $      -    2,227,058$   672,826
Intersegment Sales                     19,211         83,0514,221        23,919       -    (102,262)(28,140)           -
Segment Earnings (Loss)                56,035          8,463   (2,048)         (175)           62,275


                                                          Thirteen Weeks Ended
                         September 29, 2001                             
                                                                           Elimination
                                                     Paint                 Intersegment
WholesaleManufacturingOtherActivitiesConsolidated
Net Sales from External Customers       690,179          3,339   14,4203,999         2,362   (1,325)        -         707,9985,036
Intersegment Sales                        7,509         32,788      -         (40,297)              -
Segment Earnings (Loss)                  19,311          3,581       82          (120)           22,854


                                                          Thirteen Weeks Ended
                         September 30, 2000                             
                                                                           Elimination
                                                     Paint                 Intersegment
WholesaleManufacturingOtherActivitiesConsolidated
Net Sales from External Customers       702,241          4,979   11,713           -             718,933
Intersegment Sales                        7,245         26,397      -         (33,642)              -
Segment Earnings (Loss)                  20,181          2,815     (551)          (60)           22,385


5) Subsequent Events      

On November 5, 2001, the Company announced that its Calgary, Canada distribution center 
will be closed within the next six months.  Closure costs which are non-patronage and estimated to be in the range of $1.6 to $2.5 million, will be recorded in the fourth quarter of 2001.




ACE HARDWARE CORPORATION
PART I. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS



Thirteen Weeks Ended September 29, 2001March 30, 2002 compared to Thirteen Weeks Ended September 30, 2000.March 31, 2001.


Results of Operations

Consolidated sales decreased 1.5%. Domestic sales increased 1.1% primarily due to 
conversions of new stores to the Ace program. Sales to our existing retailer base were flat 
due to the soft economy and inventory reductions at retail. The decline in international 
sales was affected by a sale of Ace stores and reduced sales in Canada.

Gross profit increased $1.0 million and increased as a percent of total sales from 9.78% in 
2000 to 10.08% in 2001. The increase, as a percent of sales, results primarily from higher margin from Company-owned retail locations.  Excluding company-owned stores, gross profit was 9.42% of sales in 2001.  

Warehouse and distribution expenses increased $52,000 over 2000 and increased slightly as a percent of total handled sales from 1.33% in 2000 to 1.34% in 2001. Increased utilities and distribution expenses associated with the new Loxley, Alabama distribution facility and the start-up of the Prince George, Virginia facility drove the higher expenses. 

Selling, general and administrative expenses decreased $975,000 over 2000 and decreased as a percent of total sales from 3.01% in 2000 to 2.91% in 2001 due to continued cost control 
measures put in place.

Retail success and development expenses increased $1.2 million primarily due to investments 
made at retail to support our Vision 21 strategy, the timing of advertising expenditures and 
costs associated with operating additional company-owned retail locations. Increases in this category are directly related to retail support of the Ace retailer as the Company continues to make investments in our dealer base. 

Interest expense decreased $127,000 due to a decline in interest rates partially offset by 
higher average borrowings. The higher borrowing levels result from the issuance of long-term debt earlier in the year to support the expansion of our distribution network (including the completion of the Loxley, Alabama and Prince George, Virginia distribution centers and the expansion of the LaCrosse, Wisconsin facility) and increased retailer dating programs. 

Income taxes increased $472,000 primarily due to lower tax benefits from non-patronage activities.





ACE HARDWARE CORPORATION
PART I. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Thirty-nine Weeks Ended September 29, 2001 compared to Thirty-nine weeks Ended September 30, 2000.

Results of Operations

Consolidated sales decreased 3.0%increased 5.1%. Domestic sales were flat whileincreased 5.8% despite
a decline in sales to a non-patronage affiliate.  The increase in
domestic sales is primarily due to higher sales to our existing retailer 
base, lower retailer cancellations and sales to newly affiliated 
retailers.  International sales were affected by a sale of Ace stores and reduced sales in Canada. 

Gross profit was flat with 2001 but decreased $4.2slightly as a percent of 
total sales from 8.90% in 2001 to 8.51% in 2002. The decrease is due to 
lower vendor rebates as a percent of sales and a physical inventory 
adjustment to retail store inventories.

Warehouse and distribution expenses decreased $1.5 million and increased slightly
decreased as a percent of total sales from 
9.30%1.60% in 20002001 to 9.40%1.31% in 2001. The decrease resulted
2002 primarily from lower handling charges 
due to improved productivity and lower cash discounts due to lower sales and merchandise purchases. Higher vendor rebates 
and margin from company-owned retail locations offset the gross profit decline and contribute to the increase in gross profit as a percent of sales. 

Warehouse and distribution expenses increased $1.9 million over 2000 and increasedfixed costs as a 
percent of total handled sales from 1.33% in 2000 to 1.47% in 2001. Increased utilities and 
distribution expenses associated with the new Loxley, Alabama distribution facility and the 
start-upresult of the Prince George, Virginia facility drove the higher warehouse expenses. east coast distribution center reconfiguration.

Selling, general and administrative expenses decreased $1.7$2.0 million and 
decreased as a percent of total sales from 3.53% in 2001 to 3.07% in 
2002 due to continued cost 
control measures put in place.place in 2001 and 
savings realized by the closure of the Baltimore, Maryland and 
Charlotte, North Carolina facilities offset with the opening of the 
Prince George, Virginia facility.

Retail success and development expenses increased $4.5 million primarilydecreased $465,000 due to costs 
associated with investments made at retail to support our Vision 21 strategy, the timing of 
advertising expenditures and operating additional company-owned retail locations. Increasescontinued cost control measures.  Expenses in this category are 
directly related to retail support of the Ace retailer as the Company retailer.  Ace 
continues to make investments in our dealer base.retail initiatives under its Vision 21 
strategy to support Ace retailers.

Interest expense increased $1.5 million$111,000 due to higher average borrowing 
levels duringprimarily as a result of the 2001 investments in our 
year partiallydistribution network.  Lower interest rates under the revolving credit 
facility largely offset by lower interest rates. Thethe impact of higher borrowing levels result from the levels.
completion of the Loxley, Alabama and Prince George, Virginia distribution centers, the 
expansion of the LaCrosse, Wisconsin facility and increased retailer dating programs.

Other income increased $613,000decreased $876,000 primarily due to a gain recognized on the sale of two retail support centers partially offset by lower decreased interest 
income realized on non-controlling investments in affiliates and a partial write-down of an affiliate investment.

Income taxes increased $2.5 million primarily due to the tax incurred on the sale of two 
retail support centersdeclining interest rates and lower non-patronage losses.past due service 
charges to the retailers.


Liquidity and Capital Resources

The CompanyAce expects that existing and internally generated funds, along 
with new and 
established lines of credit and long-term financing, will 
continue to be sufficient in the 
foreseeable future to finance the 
Company's working capital requirements and patronage 
dividend and 
capital expenditures programs.



Item 3. Quantitative and Qualitative Disclosures About Market Risk


There have been no material changes in the Company's market risk during 
the thirty-ninethirteen week period ended September 29, 2001.March 30, 2002. For additional
information, 
refer to Item 7a in the Company's Annual Report on Form
10-K for the year 
ended December 30, 2000.29, 2001.





PART II. OTHER INFORMATION



Item 1.   Legal Proceedings

          None.

Item 2.   Changes in Securities and Use of Proceeds

          None.

Item 3.   Defaults Upon Senior Securities

          None.

Item 4.   Submission of Matters to a Vote of Security Holders

          None.

Item 5.   Other Information

          None.

Item 6.   Exhibits and Reports on Form 8-K

          None.




SIGNATURE


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 thereunto duly authorized.









    ACE HARDWARE CORPORATION      








       RITA D. KAHLE              DATE        November 13, 2001May 14, 2002           
       Rita D. Kahle
  Executive Vice President

(Principal Financial and Accounting
   Officer, and duly authorized 
    Officer of the registrant)