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It's been a bad year for retailers, as investors have been dumping the entire sector (except Amazon). With consumers continuing to move their shopping online, the latest victim is bulk retailer Costco, whose shares fell by nearly 6% by Friday afternoon, making it the worst performing stock of the day in the S&P 500.

Expand chart
Data: Money.net; Chart: Andrew Witherspoon / Axios

Why investors have soured on the company: Costco announced shrinking profit margins, combined with a plan to begin a grocery delivery service, which may end up cannibalizing more profitable in-store sales. The news seems to have served as an admission to investors that Costco—which as a bulk retailer was thought to be immune to online competition—is feeling the heat from Amazon and Walmart's stepped-up e commerce division.

Go deeper

51 mins ago - Health

CDC panel: COVID vaccines should go to health workers, long-term care residents first

Hospital staff work in the COVID-19 intensive care unit in Houston. Photo: Go Nakamura via Getty

Health-care workers and nursing home residents should be at the front of the line to get coronavirus vaccines in the United States once they’re cleared and available for public use, an independent CDC panel recommended in a 13-1 emergency vote on Tuesday, per CNBC.

Why it matters: Recent developments in COVID-19 vaccines have accelerated the timeline for distribution as vaccines developed by Pfizer and Moderna undergo the federal approval process. States are preparing to begin distributing as soon as two weeks from now.

Obama: Broad slogans like "defund the police" lose people

Snapchat.

Former President Barack Obama told Peter Hamby on the Snapchat original political show "Good Luck America" that "snappy" slogans such as "defund the police" can alienate people, making the statements less effective than intended.

What he's saying: "You lost a big audience the minute you say it, which makes it a lot less likely that you're actually going to get the changes you want done," Obama told Hamby in an interview that will air Wednesday morning at 6 a.m. EST on Snapchat.

Nasdaq's ultimatum

Photo: Kelly Sullivan/Getty Images

New diversity and inclusion rules are on the table for some of America's most powerful corporations, courtesy of one of its most powerful stock exchanges.

What's new: Nasdaq is threatening to delist companies that won't move toward having at least one woman and at least one underrepresented minority or LGBTQ person on their corporate boards.

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