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Data: FactSet; Chart: Axios Visuals

Target and Amazon have different approaches to appease impatient customers who want same-day delivery.

The big picture: Target wants to fill more orders from its store inventory, which is cheaper than fulfillment centers. When it comes to same-day shipping, CEO Brian Cornell told CNBC yesterday that “90% of the cost goes away” when customers order online and pick up at a store, use curbside pickup or select shipping via Shipt for same-day delivery.

  • Amazon, which doesn’t have a network of stores like Target, said last month it spent nearly $10 billion in Q3 — 50% more than the prior year — on shipping and fulfillment costs.

The bottom line: Companies are racing to get people stuff faster, but that comes at a cost.

  • Investors have long been OK with Amazon spending big to invest in things like same-day shipping.
  • Shares of Target hit an all-time high on Tuesday after it reported upbeat quarterly results.

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Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

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Illustration: Aïda Amer/Axios

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  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
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House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.