SOURCE: Hackett's Department Stores


October 29, 2009 05:30 ET

Seaway Valley Capital Corporation Subsidiary Bolsters Fashion Lines With Addition of Point Zero

Point Zero to Complement Woolrich, Columbia, North Face and Other Clothing Lines at Hackett's

GOUVERNEUR, NY--(Marketwire - October 29, 2009) - Seaway Valley Capital Corporation (PINKSHEETS: SWVL) announced that Hackett's (PINKSHEETS: HCKI) continues to rebuild its company and has recently strengthened its merchandise offering with the latest addition of Point Zero. Renowned for fashion, Point Zero ( has become the number one Canadian brand name and the largest Canadian producer of sportswear for men, women and children. Herbert Becker, President of Patrick Hackett Hardware Company, stated, "Point Zero has the ability to offer a wide range of fashions using different concepts from updated classics to the basics, to items that represent the latest fashionable trends. Point Zero's strength and success lies in its ability to produce what today's customers want: merchandise that combines innovative styling, excellent quality at a phenomenal price."

Hackett's also announced the recent arrival of new merchandise from long-standing vendors including Woolrich and North Face. Mr. Becker stated, "Woolrich and North Face have been favorites at Hackett's for a very long time, and we have been able to fill our racks with these and other brands over the past week and the response from our customers is remarkable." The full line of Point Zero, Woolrich and North Face can be found in the Ogdensburg and Massena locations with limited representation in the Gouverneur and Tupper Lake locations as well as at

Mr. Becker also noted that Hackett's has returned to radio and newspaper advertising as well as full color newspaper inserts as a way of getting its message out. Mr. Becker stated, "When Hackett's was forced to repay $5.5 million in six months, it made things extremely difficult for both us and our vendors. However, we have trimmed expenses, closed unprofitable stores, and are now starting to gain positive momentum in our operations. We are very pleased that most of our vendors and landlords are working with us to help us get back to full strength again."

Safe Harbor Statement

Safe Harbor Statement: Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

Contact Information