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Not that long ago, Department Stores were where you went to get new shoes for a Job Interview or something nice for a birthday gift. Marshall fields in chicago, beltz in atlanta, barneys in new york. The oldest and most storied though is lord taylor, 1826 which means it survived the civil war and the great depression, but it could not survive the modern day. Lord taylor faced the same problem all other stores have faced. Ecommerce, a changing clientele, declining foot traffic at malls. Lord taylor started Closing Stores until rescue came from the strangest of places, an upstart San Francisco Company Called la tote run by a couple of young men who have probably spent very little time inside an oldfashioned Department Store. They paid a paltry 75 million for the iconic store chain. Rakesh, ceo of la tote andceo of lord taylor joins me this morning. Thanks for having me, scott. It surprises me that the hutzpah buying a major, major chain. How did that come about . We were talking about a

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