our reporters michael lietke from "the associated press" and buzz feed's caroline odonovan this week on "press: here." good morning, everyone, i'm scott mcgrew. it is hard to remember in this day of amazon and target, but 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, barney's 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. e-commerce, 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 old-fashioned 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. >> than

our reporters michael lietke from "the associated press" and buzz feed's caroline odonovan this weekood morning, everyone, i'm scott mcgrew. it is hard to remember in this day of amazon and target, but