Johnson and Johnson Vaccine Sales Hit Milestone and Shake Shack Invests to Hire Employees
Johnson & Johnson is an American multinational corporation founded in 1886 that develops medical devices, pharmaceutical, and consumer packaged goods. J&J were a key vaccine developer to fight the COVID-19 pandemic through their novel 1-shot vaccine. Although the vaccine had many in the public skeptical due to its lower reported efficiency rate as well as instances of Guillain-Barre Syndrome in every 8 cases per million people vaccinated, the vaccine was overall a net-positive in the fight against COVID.
JNJ’s Vaccine had strong sales in the second quarter with a total expectation of $2.5 billion by year’s end. The company is quite confident that this expectation will be met, in fact, CFO Joe Wolk told Yahoo Finance Live: “It’s not only an expectation, but also almost a certainty, quite frankly, given the advanced purchase agreements that we have around the world.”
Shake Shack is an American fast casual restaurant chain based in New York City. It started out as a hot dog cart inside Madison Square Park in 2001, and its popularity steadily grew. Today, Shake Shack is one of the largest burger chains in the world and is arguably the top dog among East Coast burgers.
Recently, however, Shake Shack has suffered in the massive ongoing labor shortage in the leisure and hospitality sector. To combat this, and to stay competitive, Shake Shack has opened many job opportunities as well as a new initiative to employ more people. Shake Shack plans to invest $10 million in its restaurant teams over the next 12 months, the money will mainly go towards hiking pay.
Shake Shack plans to open 35 to 40 more units in 2021 and accelerate development with an additional 45 to 50 units in 2022.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.