FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Olsen Stephen W. (Last) (First) (Middle) C/O ORCHARD SUPPLY HARDWARE 6450 VIA DEL ORO (Street) SAN JOSE CA 95119 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/21/2011	3. Issuer Name and Ticker or Trading Symbol ORCHARD SUPPLY HARDWARE STORES CORP [ OSH ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Sr. VP and CSO	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to buy)	(1)	01/13/2021	Class B Common Stock	16,038	16.67	D
Stock Options (right to buy)	(2)	01/13/2021	Class B Common Stock	16,032	33.33	D
Stock Options (right to buy)	(3)	01/13/2021	Class B Common Stock	16,032	50	D

Explanation of Responses:

1. The options became exercisable as to 4,009 shares on January 13, 2012 and will become exercisable as to 4,010 shares on January 13, 2013, as to 4,009 shares on January 13, 2014 and as to 4,010 shares on January 13, 2015.

2. The options became exercisable as to 4,008 shares on January 13, 2012 and will become exercisable as to 4,008 shares on January 13, 2013, as to 4,008 shares on January 13, 2014 and as to 4,008 shares on January 13, 2015.

3. The options became exercisable as to 4,008 shares on January 13, 2012 and will become exercisable as to 4,008 shares on January 13, 2013, as to 4,008 shares on January 13, 2014 and as to 4,008 shares on January 13, 2015.

Remarks:

Exhibit 24 - Power of Attorney.

	/s/ Michael W. Fox, by power of attorney	12/21/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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