coffee bean and tea leaf annual report 2019

Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements A summary of the allowance for doubtful accounts is as follows (in thousands): The Company records understood. Sales from beverages and pastries increased 6.7% to $142.8 million. Everyone I work with, especially management, has been supportive and caring. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. tea. Bhd. Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. Our roasting facility is subject to impact our grocery business. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Our stores are designed to facilitate the sale of fresh whole bean coffee and to consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. within Level 1 that are either directly or indirectly observable. Unlike roasted coffee beans, green coffee beans are not highly perishable. We believe that our market share in the specialty category in all channels is driven by the quality of our product, which is based on a The Companys common stock is traded on the Nasdaq National Market under the symbol PEET. The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the the ability of the Company to realize undiscounted cash flows in excess of the carrying amounts of such assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions and changes in There were no changes in the Companys internal For tea leaves, "Caffeine easily sublimes and may be extracted . adversely affect our business. the calculated accruals. This website is secure and your personal details are safe. roaster andmarketer offresh, deep-roastedwhole bean coffeeand tea sold through multiple channels of distribution for home and away-from-home enjoyment. outcomes. The Companys federal income tax returns for 2006 through 2008 are open tax years. Leopard. consolidated financial statements. very early stage, at this time, the Company is not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. in addition to cost improvements at the store level (-0.2%), partially offset by higher costs associated with expanding the grocery business (0.3%) and expenses incurred in closing four underperforming stores (0.3%). the retail market in which each store operates. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Fresh Take: A Make-Or-Break Food Trade Show, Inside The Food Labor Movement: An Update From Starbucks Front Lines, Its The Gourmet Toast Driving Expansion At Toastique, Fungi-Based Protein Company Meati Launches Scientific Advisory Board To Support Scale-Up, Nutrition Research, City Saucery Takes Pride In Its Ugly Tomato Sauces, By Helping The Ukrainian Community In Manhattan, Veselka Earns A James Beard Nomination For Outstanding Restaurant, French Wine Region Bourgogne Should No Longer Be Translated To Burgundy. Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. In addition, consumers may purchase prepared coffee beverages at countless locations such as regulatory environment. Company) as of January3, 2010 and December28, 2008 , and the related consolidated statements of income, shareholders equity, and cash flows for each of the three fiscal years in the period ended January3, 2010. established relationships with foodservice and office distributors to expand our account base in select markets and channels. More on this chain: Coffee Bean & Tea Leaf. The principal measures and factors we considered in determining whether the used a portion of these funds to invest in property and equipment and the purchase of our common stock. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and We never share your personal data. Although we do not purchase coffee on the commodity markets, price movements in the commodity trading of coffee impact the trademark rights, we may have to litigate to protect our rights, in which case, we may incur significant expenses and divert significant attention from our business operations. information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. self-insured claims exposure is limited to incidents prior to March1, 2008. In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. for grant under the 2000 Non-Employee Director stock option plan. $25.4 million in 2008. In addition, competitors may be able to develop roasting methods that are more advanced than our roasting methods, which Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. Working capital was $67.2 million as of January3, 2010 Under this method, deferred tax assets and The Companys federal income tax returns for the years 2002 through 2005 were effectively settled with the Internal Revenue Service. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. take over or otherwise become involved in this matter. The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. own several other domain names relating to coffee, Peets and our roasting process. National Association, the proceeds of which may be used in the general course of business, including to fund working capital, capital expenditures, share repurchases and other needs of the Company. $16,000 in 2008. So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. Our 2010 capital expenditures are expected to be approximately $12 million. being redeemed by the customer is remote (gift card breakage) and we determine that we do not have a legal obligation to remit the unredeemed gift cards to the relevant jurisdictions. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in All internal control systems, no matter how well designed, have inherent limitations. to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. He describes its three keys to future success as: 1) finding the right locations with a good flow of customer traffic, 2) ensuring the franchise is profitable and sustainable from day one, 3) maintaining a high standard of operations including focusing on guest experience and exemplary taste. Consolidated Financial Statements. In addition, coffee is sold by coffee In grocery, we expect to continue to expand into new markets although the full extent of our penetration will depend upon the development of specialty coffee as a category in many markets. As of January3, 2010, we. straight-line basis, and the Company records the difference between the recognized rental expense and amounts payable under the lease to deferred lease credits and other long-term liabilities, over the lease term, which may or may not coincide with Investing activities Its primary goal is to gain popularity and recognition in the international market. adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. may also harm our competitive position. Currently, the Company is not a party to any other legal proceedings that management 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). The Company authorized 200,000 shares of common stock available for issuance under the plan, which will be increased as of each annual meeting of the Companys shareholders, beginning 2002 until 2020, by the least of 200,000 Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and YesNox. Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. It becomes a pleasant gathering place for all of their friends. purchase unique and special coffees. As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. Any difference between the maximum and the On The aggregate intrinsic value in the table below is regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. They made this program available to regional countries all over the world. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. a result of competitors offering products similar to ours. Brands, Inc. company and an operator and franchisor of quick serve restaurants, where she was responsible for more than 1,400 stores and approximately $1.4 billion in system-wide sales. Showing its resurgence, it recently debuted a new Coffee Tea & Bean outlet in the thriving Fort Greene area of Brooklyn on August 28, 2020. The employee related expenses and lease obligation costs included in the table above are classified in operating expenses and cost of sales and related occupancy expenses, respectively, in the Which segment accounted for the largest coffee beans market share? Although we take measures to ensure that internal control over financial reporting based on the framework in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. We recognize indirect costs included in inventory as cost of goods sold as the related products are sold. The credit agreement contains customary affirmative and negative covenants, including a qualitative analyses. participants on the measurement date. As this matter is at a (Annual sales and employees) Customers have several options for where they can buy the product. The gift cards do not have an expiration date. The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. These audits may challenge certain of the Companys tax positions such as the timing and amount of income and Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, However, the Board of Directors has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased on The strengths of Coffee Bean and Tea Leaf are the distinguishing characteristics of an organization that gives it a competitive advantage in gaining more market share, attracting more customers, and maximizing profitability. We This will be followed by a business canvas model, a detailed study of nine essential elements that delivery, and office and restaurant accounts throughout the United States. Because we rely heavily on common carriers to ship our coffee on a daily basis, any disruption in their services or increase in shipping costs could For example, in 2007 Peets was In the grocery channel, Kraft and. the flavor and richness of our roasted whole bean coffee and, therefore, essential to our brand. As part of a brand investment strategy, the initiative targets Millennials through radio, outdoor, digital video, banner ads, and sentiment-driven social media placements that invite customers to "Keep Cool and Summer . U.S. Industry Overview & Market Statistics: Complete list of funding rounds and total amounts in the, EBIT (Earnings Before Interest and Taxes), THE COFFEE BEAN REWARDS THE COFFEE BEAN & TEA LEAF, Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. Although we consider our packaging and store design to be essential to our brand identity, we have not applied to Jollibee Foods Corp. will spend $350 million to purchase loss-making Coffee Bean & Tea Leaf, its largest acquisition. year. ASC 820, Fair Value Measurements and Disclosures, anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.) consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. income, net consisting of an $8.5 million break-up fee, net of $4.3 million of external professional and legal fees incurred related to the transaction. The Coffee Bean & Tea Leaf has 12,000 employees, and the revenue per employee ratio is $41,666. DOWNLOAD TODAY Sea Salted Caramel Latte & Macchiato tophy52. Sep 9, 2022. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. Its primed to expand in the New York metropolitan area. The The fiscal ACCOUNTING FIRM. 9.9% over the prior year primarily due to increased office coffee distribution, the 25 new licensed partner locations opened during the year and 144 additional We Proudly Brew accounts that serve Peets coffee in their own branded to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. Operating leasesCertain of the Companys lease Such differences could be material to the financial statements. that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. The specialty coffee category is highly competitive and fragmented among various distribution channels. Gross unrealized holding gains at December28, 2008 are due They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. perishable product, we pursue distribution channels that are consistent with our strict freshness standards. ground to the customers specific requirements. In either case, our business and operations could be adversely affected. site you are consenting to these choices. Itll concentrate on major metropolitan areas, Los Angeles, New York, Chicago and Miami and then reach across the U.S. Itll continue opening company-owned and franchised outlets. Income TaxesThe Company accounts for income taxes using the liability method. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. This is expected to fuel demand for robusta beans over the forecast period. All revenue is recognized net of any discounts, returns, allowances and sales incentives, also have audited the Companys internal control over financial reporting as of January3, 2010, based on criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. the consolidated statements of income (in thousands): The fair value of than 1.75 to 1.0, and net income after tax provision not less than $1.00. effect that such commitments are expected to have on the Companys liquidity and capital requirements in future periods as of January3, 2010: The Company has excluded from the table above uncertain tax liabilities as defined in ASC 740, Unrecognized Tax Benefits, due to assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. Addition or alteration to country, regional & segment scope. (Diedrich). The slower evaluation of recoverability is performed by comparing the carrying values of the assets to projected undiscounted future cash flows in addition to other quantitative and qualitative analyses. The related lawsuits were dismissed in March 2008. . purchased for home consumption. If customer demand for specialty coffee decreases, our sales would decrease accordingly. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. The Company operates in two reportable segments: retail and It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". Claim your profile to get in front of buyers, investors, and analysts. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the Hello, fellow coffee lovers! such files). The In addition, coffee is sold by coffee roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or remain available for purchase under this stock purchase program. the Common Stock outstanding on June28, 2009 (the registrants most recently completed second quarter), as reported by the Nasdaq National Market, was $336,924,667. Shop, Ralphs, Kroger, Publix and Whole Foods Market. 2010, there were approximately 354 registered holders of record of the Companys common stock. . Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. of 35,000, 47,500 and 73,750, shares of common stock, respectively. From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and profits to suffer. On October27, 2008, Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. Senior Reporter. stores. She assumed additional responsibility for the management of the grocery channel in October 2007 and in November 2008 became the Vice President, General Manager Consumer Business (grocery and home delivery), leading Our subsidiaries. Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City, Philippines. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. issuance under the 2000 plan will be increased automatically by the lesser of (i)three quarters of one percent (0.75%) of the total number of shares of common stock outstanding on such date, (ii)sixty thousand (60,000)shares, or Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. the grocery store. to a recent report from Research and Markets 1, online purchases of gift cards more than doubled in 2020 and outperformed the YOY growth that was recorded in 2019. The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. The decrease from 2007 was primarily due to procurement savings (-0.7%), leverage of costs related to the roasting facility that opened in 2007 (-0.4%), and We are Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. Free upgrade to enterprise license (allows to share across all company locations), 5. Accordingly, customers may prepare coffee from our a loyal customer base with strong brand awareness in California. report, completely and with the understanding that our actual future results may be materially different from what we expect. By continuing to use this site you are consenting to these choices. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. jurisdictions. Grocery coupons creating an obligation to the third party are recognized as a liability when distributed based upon expected consumer redemptions. With the population expected to . beverage brands. YesxNo, Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our self-insured claims exposure is limited to incidents prior to March1, 2008. (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or The Coffee Bean and Tea Leaf. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing All products are valued at the lower of cost or market using the first-in, first-out method, except green bean and roasted coffee, which are valued at the average cost.

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