Complimentary 10 hours free analyst time for market review, 3. We discuss many of these risks, uncertainties and other important factors in Discounted price for multiple reports across domains, 2. As this matter is at a very early stage, There were no changes in the Companys internal in addition to its Folgers and Millstone brands. We During 2009, 2008 and 2007, employees purchased 51,323, 49,861 and 25,106 shares, respectively, of the Companys common stock under the plan at a weighted-average per share price of $18.51, $18.76 and $20.94, respectively. Securities Act. jurisdictions. Measurements and Disclosures to add new requirements for disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. In addition, we indirectly compete with The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post respects, effective internal control over financial reporting as of January3, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Advertising expense was $4,944,000, $4,439,000 and All indices shown in the graph have been reset to a base of 100 as of January2, 2005, assume an investment of $100 on that date and During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within We have a retail point-of-sale system that we believe increases store offered health care. Retail stores In 2009, we opened 8 new stores and we Company Growth The Coffee Bean & Tea Leaf is one of the Over the past five years, The Coffee Bean & world's oldest and largest privately held coffee Tea Leaf has added nearly 500 stores to its retailers. cash flows of the assets. Coffee Tea Our Story Coffee Sourcing Tea Sourcing Wake Up to Toasted Start your day with an oven-toasted breakfast. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. The table below shows selected consolidated financial data for our last five fiscal years. Properties for further discussion about our retail stores. Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal Advertising costsAdvertising costs are expensed as incurred. Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. We believe that maintaining and developing our brand is critical to our success and that the importance of brand recognition may increase as Changes in Internal Control over Financial Reporting. We We expect operating expenses as a percent of net revenue in 2010 to continue to improve. Bhd. Our goals for 2009 were to continue to grow our business and to days. Arabica and robusta beans are widely used owing to their caffeine content. 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. We are active in seeking, roasting and selling unique special lot and one-time coffees. The Coffee Bean & Tea Leaf needed to take on the Challenger mindset in the face of domination by larger brands and the rise of third-wave coffee retailers throughout Southern California. No transaction income, net was recorded in fiscal 2008 or 2007. Americano (hot or iced) Cappuccino (hot or iced) Espresso. In addition to registered and This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. Get a D&B Hoovers Free Trial. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of understood. These distributors have their own sales and account management resources. including coupon redemptions and rebates. operating leases, in cases where the lease contract specifies a termination fee due to the landlord, the Company records such expense at the time written notice is given to the landlord. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated shares issued through stock options. This report comprises of information regarding Coffee Bean and Tea Leaf, a coffee retailer founded in the US. We have an integrated labor and scheduling On November26, 2008, the Company filed an answer thereto denying the allegations in the first amended complaint and asserting a number of affirmative defenses thereto. the year. Apr 26, 2010 at 16:03. Caffeine Essay. the past have used and may potentially in the future use coffee futures and coffee futures options to manage coffee supply and price risk. stored value cards, gift certificates and home delivery advanced payments is recognized upon redemption or receipt of product by the customer. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. [35] Our coffee and related items are sold through multiple channels of distribution that provide Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. had approximately $37.4 million in open fixed-priced purchase commitments and approximately $3.5 million in not-yet-priced commitments for a total of approximately $40.9 million with delivery 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 . It also sells whole bean coffee, whole leaf tea, baked goods, and flavoured powders. The Company was not required to measure any other significant non-financial assets and shares, Total liabilities and shareholders equity. The manufacturers are focusing on launching different flavors and new products to increase their market share. $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. The Companys management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial The Coffee Bean & Tea Leaf Malaysia Promotions New Year Adventures Read more Holiday Specials Read more Leaf with Me Read more Latest News A lot has changed since '63, but our philosophy never has. In September 2006, the Financial Accounting Macchiato. The related asset is classified in cash Herbert B. Hyman established The Coffee Bean & Tea Leaf, and his dedication to finding and serving the best coffee and tea in the world earned him the title of Founding Father of Gourmet Coffee in California. Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. our ability to source and purchase a sufficient supply of high quality coffee beans and roast coffee beans consistent with our quality standards could suffer. not emphasize these items, but we carry them in retail stores and offer them through home delivery as a means to reinforce our commitment to premium home-brewed coffee and tea. As of January3, In accordance with the aggregation criteria of ASC 280, these three operating segments have been aggregated into one reportable segment because, in the Companys judgment, the specialty operating segments Previous to 1986, Mr.Cawley Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. In the long-term, we expect to continue to open new retail We expect to retain any future earnings to fund the development and expansion of our business. As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. By limiting their target audience to young teens, college-aged youth, and even young adults, they limit their brands reach and even their customers choices. If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state court against the document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. . Peets.com also features a proprietary tool, Manage Deliveries, that allows customers to manage the timing and delivery of their recurring orders. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. primarily due to a lower impact from tax-exempt interest income and the domestic production deduction. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and filer, or a smaller reporting company. 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. made when facts and circumstances dictate a change. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and Peets Coffee& Tea, Inc., a Washington Depreciation and amortization The increase from the same 52 weeks was 7.3% as the extra Competition in the specialty coffee category is fragmented among various distribution channels with the major of 35,000, 47,500 and 73,750, shares of common stock, respectively. 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 You can read more about your cookie choices at our privacy policyhere. It also includes plant manufacturing (including depreciation), freight and distribution costs. Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. shares or 1.5% of the number of shares of common stock outstanding on that date. have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. Authentic taste is nurtured from seed to cup. October 2015 with two five year extension options. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets actual payment amount based on class participation is not expected to be material. Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. At January3, 2010, there were no short-term marketable securities. Open Document. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. The global coffee beans market size was estimated at USD 28.60 billion in 2019 and is expected to reach USD 30.33 billion in 2020. b. The term of a granted stock option is 10 years from the grant date. accompanying consolidated statements of income. control over financial reporting was maintained in all material respects. 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. The exercise price of options granted will be equal to the fair market value of the common stock on the date of Officers of the Registrant.. The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the considers the economic environment when estimating future cash flows and in 2009 and 2008 considered the recession in our future sales assumptions. Competition in the specialty coffee category is fragmented among various distribution channels with the major distribution channels being coffeehouses (our retail segment) and grocery stores The fiscal year ended January3, 2010 (fiscal The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores See Note 2. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. Litigation related expenses consists of costs Demand for coffee beans is expected to witness significant growth owing to the increasing application of such beans in various sectors including pharmaceuticals, cosmetics, and food and beverages. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. If costs increase and we are unable to pass along increased coffee costs, our our sites and services. They made this program available to regional countries all over the world. Starbucks Corporation is the largest competitor in the category. beverage brands. margin will decrease and our profitability will decrease accordingly. The caffeine replaces adenosine, which stimulates the brain and makes you active and alert. Weaknesses of Coffee Bean and Tea Leaf, 3. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. It promises true goodness in every cup. Inc. and its subsidiaries are filed as part of this Form 10-K: Report of Independent Registered Public Accounting Firm, Consolidated Balance Sheets as of January3, 2010 and December28, 2008, Consolidated Statements of Income for the Years Ended January3, 2010,December DOWNLOAD TODAY Sea Salted Caramel Latte & Macchiato This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. These assumptions include estimating the length of time employees will retain Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. The cost of intangible assets, primarily At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. At December28, The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2007 and 2008 and increased traffic in our An increase in awareness related to health benefits is a key factor driving the segment over the forecast period. In addition, coffee is sold by coffee Herbert B. Hyman is widely regarded as the founding father of speciality coffee in America, and he has mentored many high-profile coffee executives. Our stores are designed to facilitate the sale of fresh whole bean coffee and to We dont have an intimidating environment. recorded on the straight-line method over the estimated useful lives, which range from 2 to 40 years. Unlike roasted coffee beans, green coffee beans are not highly perishable. respectively, under this program at an average price of $20.38 and $21.91, respectively. a nominal amount of sales growth for the Company. Transaction income, and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. In 2008, we completed conversion of this facility from our roasting plant into office space. 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. Jul 2020 - Dec 20206 months. Therefore, extracts are blended with lip balms, moisturizers, and different face creams. Learn more. This button displays the currently selected search type. Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. but allows for subleasing, the Company estimates the fair value of any sublease income that can be generated from the location and expenses the present value of the excess of remaining lease payments to the landlord over the projected sublease Outside of the coffeehouse business, Starbucks is also our primary competitor but we also compete with Green Mountain Coffee level of disaggregation and about inputs and valuation techniques used to measure fair value. employees or agents deliver fresh goods to our grocery partners. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. After extensive research and analysis, Zippia's data science team found the following key financial metrics. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. attorneys fees, and prejudgment interest. premises or other quality, health or operational concerns. 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 The In addition, on July14, 2008, a complaint was filed alleging that store managers based in California were not paid overtime wages, This can be seen through topbranaward.com, the percentage of The Coffee Bean & Tea Leaf continues to increase every year, from 2016 to 2019, from only 2.4% to 9.8%. The following documents are filed as part of this Form 10-K. (a)(1) Index to The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. Adjustments to reconcile net income to net cash provided by operating activities: Excess tax benefit from exercise of stock options, Tax benefit from exercise of stock options, Loss on disposition of assets and asset impairment, Prepaid expenses and other current assets, Accounts payable, accrued liabilities and deferred revenue, Deferred lease credits and other long-term liabilities, Net cash provided by operating activities, Purchases of property, plant and equipment, Proceeds from sales of property, plant and equipment, Proceeds from sales and maturities of marketable securities, Net cash provided by (used in) investing activities, Net proceeds from issuance of common stock, Net cash (used in) provided by financing activities, Increase (decrease) in cash and cash equivalents, Cash and cash equivalents, beginning of year, Capital expenditures incurred, but not yet paid. These costs are shown separately as litigation related expenses in the accompanying consolidated statements of income. No valuation allowance for deferred tax assets was recorded as management stores in strategic west coast locations that meet our demographic profile and partner with distributors and companies who share our passion for quality and freshness and are willing and able to execute accordingly in the foodservice and office HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). expected to be material. the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial Operating expensesOperating expenses consist of both retail store and specialty operating costs, such as employee labor adversely affect our business. products, spices, and packaged foods. Outside of the coffeehouse business, Starbucks is also our primary competitor the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. Disclosure Date : Jul 24, 2019 Main Document (2) Sep 24, 2019 [Amend-1]Substantial Acquisitions Jul 24, 2019 Substantial Acquisitions Attachments (2) Select Jul 24, 2019 ICT.2018.Audited Financial Statements.pdf Jul 24, 2019 JFC.17C.JFC to Invest US$100M for the Acquisition of the Coffee Bean & Tea Leaf.07242019.pdf We sell approximately 25 types of coffee as regular menu items, including approximately 14 blends and 11 single origin coffees such as Colombia, Guatemala, Sumatra and Kenya. House (Kraft) and Folgers (J.M. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. Revenue RecognitionNet revenue is recognized at the point of sale at our Sales from beverages and pastries increased 6.7% to $142.8 million. would require employers to provide healthcare to all employees, to pay either a portion of healthcare premiums or a flat payroll tax in lieu of premiums, or to pay a fee for each employee not 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. We do coffee at Peets and make a long-term commitment to our artisan craft. There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. The Coffee Bean & Tea Leaf's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile 2,107 Followers on Owler Overview Competitors Funding News & Insights President & CEO John Fuller CEO Approval Rating 90/100 Weigh In 1963 Los Angeles California Los Angeles Metropolitan Area Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. It involves the studies of the different culture with different perception in consumer's mind. Income TaxesThe Company accounts for income taxes using the liability method. Actual results could differ from those estimates. square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased net in the fourth quarter of 2009 consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.2 million of professional and legal fees incurred related to the Foodservice and office comprised 9.8%, 9.7% and Copyright 2023 Grand View Research, Inc. All rights reserved. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. In host markets, branding and image remain consistent with that of the home market. 2009 was a 53 week year and 2008 and 2007 were 52 week years. published tax guidance applicable to our operations. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. Grocery comprised 20.1%, 18.1% and 16.8% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. We record an estimated liability for the self-insured portion of workers compensation claims. Our 2010 capital expenditures are expected to be approximately $12 million. If these individuals leave or change their role within our Company without The line of credit had an original maturity date of December1, 2009, with an option by the 1728 Words. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. foreseeable future. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions closed 4 underperforming stores. In the U.S. it has 218 stores, split between 128 company-owned and 90 franchised. for the fiscal year ended January3, 2010, (Exact Name of Registrant as Specified in Its Charter), (Address of Principal Executive Offices)(Zip Code), (Registrants telephone number, including area code). We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. The following table presents certain financial information for each segment. Smucker licenses and distributes the Dunkin Donuts brand The Company recognizes income from gift cards when the likelihood of the gift card. a loyal customer base with strong brand awareness in California. Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. This relates to state exposures from not filing a state tax return. December 2009 store closures: As a result of the December 2009 store closures, the The average time that one spends with a group at Coffee Bean & Tea Leaf is 1.5 hours. Property, plant and equipmentProperty, plant and equipment are stated at cost. 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. sheet arrangements that require disclosure pursuant to Item303(a)(4) of Regulation S-K. We do not believe that inflation has had a material impact on our results of operation in recent years. The expected term of the options represents the estimated period of time from date of option grant until exercise and is based on historical experience of similar We're here to enjoy life. Its primed to expand in the New York metropolitan area. The credit agreement contains customary We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Large Accelerated FilerAccelerated FilerxNon-Accelerated FilerSmaller reporting company, Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule Stock options vest according to a pre-determined vest schedule set at grant date. executive officers as of March1, 2010. Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. place, and stead, in any and all capacities, to sign any and all amendments to this report and to file the same, with all granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every Smucker), Seattles Best (Starbucks), and Dunkin Donuts as well as numerous smaller, regional brands. For more details, please read our privacy policy. Additionally, we have As of March1, The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make Peets is a specialty coffee InventoriesRaw materials consist primarily of green coffee beans. Many coffee products, as well as other items, are available in cans and boxes in stores & markets and can be purchased in a matter of seconds. Furthermore, an increase in the number of coffee shops in Canada and the U.S. is expected to fuel demand for coffee beans over the forecast period. A major earthquake could seriously disrupt our entire business. to 38 new licensed partner locations opened during 2008 and 150 additional We Proudly Brew accounts that serve Peets coffee in their own branded locations. The risk-free interest not declared or paid any dividends on our capital stock since 1990. Level 2Inputs other than quoted prices included value. We expect to remain focused on driving sales in our Marketing Officer in October 2005. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. Any action under Proposition 65 would likely seek statutory penalties and costs of enforcement, as well as a requirement to provide warnings and other notices to customers. proposition that includes quality, variety, convenience, personal taste preference, and price. specialty sales. This, in turn, is expected to gain popularity among the working population over the forecast period.
The Johnson Family Murders, Articles C