coffee bean and tea leaf annual report 2019

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Finally, in cases where the landlord does not allow the Company to prematurely exit its lease, Our effective rate increased 0.5% Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. Operations for Taco Bell Corporation, a Yum! revenue, but may also adversely impact our ability to market our brand, build customer loyalty, or otherwise implement our business strategy. Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. Guide to Vegan Options at The Coffee Bean & Tea Leaf | PETA The Coffee Bean & Tea Leaf Company Adds Three Executives to - Cbtl We conducted an evaluation, under the supervision and with the participation of our management, We are subject to a variety of laws and regulations which govern such matters as minimum wages, overtime and other working conditions, various family leave mandates and a variety of other laws enacted, or rules and regulations promulgated, Despite knowing that cultural differences could affect demand for their products and services, The Coffee Bean & Tea Leaf believed that standardization was far more important than adaptation. Commission. strengthen our core businesses with improved operational efficiency. Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. If a competitor infringes on our Their philosophy of influencing lives from seed to cup is ingrained in everything they do. If our brand building initiative is unsuccessful, we may never Recent years have seen escalation in the number of legislative reforms and judicial rulings affecting this business. act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or 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 The level of disaggregation and about inputs and valuation techniques used to measure fair value. recognized for 2009 would not be material. We're here to enjoy life. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.) In addition, consumers may purchase prepared coffee beverages at countless locations such as North America was the largest market with a share of 29.2% in 2018 due to the high consumption of coffee brew. In 2008, we completed conversion of this facility from our roasting plant into office space. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. 2008 (52 weeks) Compared with 2007 We earned $726,000 in interest income in 2008, compared to $1.4 million in 2007, due to our lower average cash and investment balances and lower interest rates. expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. Global Coffee Shops Market Analysis, Trends, and Forecasts 2019-2025 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 court against the companies named in the letter. However, we cannot predict what Information with respect to compliance with Section16(a) of the Exchange Act is set for grant under the 2000 Non-Employee Director stock option plan. It is classified as operating in the Specialty Food Stores industry. The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial cost of green coffee beans. $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. Because our business is highly dependent on a single product, specialty coffee, if the demand for specialty coffee decreases, our business could suffer. Kitchen by The Coffee Bean & Tea Leaf (@cbtlph) is now open in Okada Manila! Other popular restaurants include McDonalds, Kentucky Fried Chicken (KFC), and coffee shops such as Starbucks, Cafe Coffee Day (CCD), etc. In the long-term, we expect to continue to open new retail The favorable workers compensation expense resulted year ends on the Sunday closest to the last day of December. Upon order, beans are scooped and In addition, we indirectly compete with more mainstream brands as Maxwell Extensive Marketing Strategy Of IFCI In-Depth Analysis, Extensive Marketing Strategy Of Ashoka Buildcon In-Depth Analysis, Extensive Marketing Strategy Of Mcaffeine In-Depth Analysis, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. House (Kraft) and Folgers (J.M. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. Copyright 2023 CB Information Services, Inc. All rights reserved. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. Smucker licenses and distributes the Dunkin Donuts brand In China, Starbucks alone has more than 1,500 outlets. By Lee Breslouer. information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. The Company measures certain 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. 8.2% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. We value your investment and offer free customization with every report to fulfil your exact research needs. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, Realized gains and losses are determined on the The following table summarizes the Companys contractual obligations and the timing and Our roasting facility is subject to week in 2009 accounted for 2.0%. Also, in our opinion, the Company maintained, in all material Completed a Green Belt Project - DFT Tank Liquid Mix Cut-Off Reduction by integrating Lean Six Sigma to generate yield improvement of 0.14% as well as an improvement in annual gross margin of 75,000. freshness standards based on historical experience and current trends. The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the OUR STORY. In the coffeehouse business, Starbucks is our primary competition, but we also compete with 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 Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. The credit agreement contains customary elsewhere in this report. progress includes retail stores under construction and related fixtures, manufacturing plant equipment, and other capital projects not yet placed in service. We may not be able to hire or retain additional management and other personnel and our recruiting and training costs may increase as a result of 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. Company recognizes an impairment loss by a charge against current operations for an amount equal to the difference between the carrying value and the assets fair value. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. 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 2. will be filed with the SEC in accordance with Rule 14a-6(c) promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act.). The Company files income tax returns in the U.S. federal jurisdiction and various state The Coffee Bean & Tea Leaf is followed by 49 members. PDF The Effect of Dining Experience on Loyalty Intentions Mediated by Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the 2009 was a 53 week year and 2008 and 2007 were 52 week years. Beans are freshly scooped from bins under the counter, weighed on Coffee is gaining popularity among the young population, especially in India and China. A significant interruption in the operation of our under the credit agreement are guaranteed by our wholly-owned subsidiary Peets Operating Company and secured by substantially all of our and Peets Operating Companys personal property. a nominal amount of sales growth for the Company. We may not be successful not declared or paid any dividends on our capital stock since 1990. The Company operates in two reportable segments: retail and purposes. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain Since we only roast our coffee to order, we do not carry inventory of roasted coffee in specialty sales. (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. It becomes a pleasant gathering place for all of their friends. locations. As of March1, We are GDPR and CCPA compliant! We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. As a result, we do not stock or inventory roasted coffee. outcomes. With the population expected to . In every channel, Peets competes against at least one competitor who more mainstream brands as Maxwell House (Kraft) and Folgers (J.M. than 1.75 to 1.0, and net income after tax provision not less than $1.00. coffee. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. They focus on specific niche markets rather than the general public. We expect cost of sales and related occupancy expenses as a percent of net revenue in 2010 to be comparable to 2009 as we anticipate increased prices for milk, slightly offset by lower coffee costs and by In the retail segment, net revenue increased 11.5% As of January3, The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. Segment income before taxes Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. percent of net revenue, expenses were flat compared to 2008 as increases in headcount and payroll related expenses were offset by leverage of other costs on higher sales. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting increased prices in retail and grocery (-0.3%), partially offset by higher green coffee costs (0.8%). We expect that our California operations will continue to generate a substantial portion of our revenue. a loyal customer base with strong brand awareness in California. Currently, the Company is not a party to any other legal proceedings that management Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive requirement to maintain the Companys financial condition in accordance with certain ratios and thresholds, and events of default that permit the Bank to accelerate the Companys outstanding obligations, including nonpayment of principal, Upon indication that the carrying values of such assets may not be recoverable, the To do so, they would need to hold on to and grow market share, all while tracking their digital marketing impact and performance. Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. Case Study Of Coffee Bean And Tea Leaf - 1728 Words | Bartleby 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%). Shares of Common Stock held by each officer, director and each person On October27, 2008, The Proxy Statement specific identification method. Officers of the Registrant.. Any difference between the maximum and the Intangible and other assetsIntangible and other assets include lease rights, contract acquisition costs, deposits, and Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Peets cards can check their balance as well as reload their card online. days. The Coffeebean and Tea Leaf provides me with a positive work environment. See for yourself. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. DBS Bank (20 Oct 2019) Design Thinking. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. See Note 2. The Coffee Bean & Tea Leaf | 2020 - Restaurant Business modified self-insured program with a high deductible with an overall program ceiling to limit exposure. consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. We We apply an estimated gift card breakage rate after the card has been dormant for 24 months, when based on historical information, we determine the likelihood of On 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. No purchase commitment. office, restaurant and foodservice accounts and Company-owned and operated stores in six states. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. artisan baked pastries. common stock, with no expiration, and the Company announced its plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, In 2009, 2008 and 2007, the Company granted non-employee director options to purchase an aggregate We have only one roasting and distribution facility that roasts Peets coffee. ground to the customers specific requirements. coffee at Peets and make a long-term commitment to our artisan craft. 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. Comparison of Starbucks with The Coffee Bean & Tea Leaf MEA is estimated to expand at the fastest CAGR of 9.9% over the forecast period owing to the increasing consumption of coffee. 1728 Words. amended complaint asserting an additional claim for penalties. The Company has adopted the standard for those assets and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. As a result, a major earthquake in the San Francisco Bay area could not only seriously disrupt our business, but may also lead to substantial losses. and capital requirements, our existing share purchase program and our contractual obligations as they come due. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. Hope. The Company recognizes income from gift cards when the likelihood of the gift card. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. In our opinion, the consolidated financial clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. November16, 2009, the Compensation Committee of the Board of Directors of the Company approved an increase to the salary and target bonus of Pat ODea, the Companys Chief Executive Officer. Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast During the year and as of January3, 2010, there were no borrowings under this agreement. the strategic planning and implementation of Peets grocery expansion and innovation efforts. Awaken your everyday with The Coffee Bean & Tea Leaf. coffee bean and tea leaf annual report 2019 The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. effect inflation may have on our results of operations in the future. Foodservice and office net revenue increased In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. The Coffee Bean & Tea Leaf appoints new - World Coffee Portal adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. closed 4 underperforming stores. Coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; web site. transactions off the market. It has two components: net income and other comprehensive income. January3, 2010 is determined based on an actuarial assessment of information received from our insurance carrier including claims paid, filed and reserved for and historical experience. Results for the year reflect success in these areas as we were able to exceed margin and earnings goals significantly, grow our grocery sales business significantly and maintain The impact of a major earthquake faults in the San Francisco Bay area on our facilities, infrastructure and overall operations is difficult to predict, and an earthquake could seriously disrupt our entire business. The stock price performance shown in the graph is not necessarily indicative of future price performance. 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 Each store has a dedicated staff person at the bean counter to take orders and assist customers with questions on coffee origins and on home brewing. coffee bean and tea leaf annual report 2019 Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. , peets.com, Blend 101, eCup, Espresso Forte, Fresh Fridays, Gaia Organic Blend, Garuda other product costs. 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, Potential lawsuits could divert managements time and attention from day-to-day operations, result in significant legal expenses, and result in an Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. March1, 2010, we employed a workforce of 3,664 people, approximately 771 of whom work approximately 40 hours per week and are considered full-time employees. The Solution. Unlike roasted coffee beans, green coffee beans are not highly perishable. The line of credit had an original maturity date of December1, 2009, with an option by the An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. 9. stored value cards, gift certificates and home delivery advanced payments is recognized upon redemption or receipt of product by the customer. ASC 820, Fair Value Measurements and Disclosures, SEC.gov | HOME Managements Discussion and Analysis of Financial Condition and Results of Operations. Upon If the Company makes any substantive amendments to the Code of Business Conduct and Ethics or grants any waiver from a provision of the code to any executive officer or director, the Company will promptly small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. The coffee chain was. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. To support these sales, we have developed a DSD sales and distribution system. On November12, 2008, the plaintiffs filed an See Note 13, Commitments and Contingencies for further discussion. The liability is determined based on an actuarial assessment of The points represent index levels based on the last trading day of the Companys fiscal year. Litigation expenses consist of $3.0 million of costs incurred related to the pending settlement of a wage and hour class action lawsuit that channels. The slower We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal They could select whichever brand they wanted based on ratings and price of the coffee shops, such as Starbucks and CCD. income at the cease-use date. Customer service Sales from beverages and pastries increased 6.7% to $142.8 million. that date. In Stock Option, Employee Purchase and Deferred Compensation Plans. In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and This, in turn, is expected to fuel demand for coffee beans over the forecast period. What are the factors driving the coffee beans market. Arabica and robusta beans are widely used owing to their caffeine content. foreseeable future. and legal costs. companies named in the letter. Based on analysis using changes in certain assumptions that could 1/18/2021. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. Sales of whole bean coffee and related products in the retail segment increased by Peets The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. Adaptation is also used in The Coffee Bean & Tea Leafs product offering. Annual Report on International Coffee & Tea's Revenue, Growth, SWOT issuance pursuant to the plan. The employment position and sought damages, restitution, reclassification and attorneys fees and costs. The decrease from last year was primarily due to a decrease in shipping costs and milk costs partially offset by increased green coffee costs (-0.5%), leverage of We roast by hand in coffee roasting operations and our retail stores are subject to various governmental laws, regulations, and licenses relating to customs, health and safety, building and land use, and environmental protection. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). 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. Open daily from 7AM to 12MN. P. Christine Lansing joined the Company as Vice President, Chief compensation liability is from claims occurring in California, which has historically had a very high cost structure. From January 2003 to October 2007, Ms.Bogeajis served as Vice President, Western The cost of performing a daily management system check would add up over time. plan covers substantially all employees. plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, respectively, under this program at an average price of $20.38 and We generally In addition to peets.com and coffee.com, we The Company considers the economic environment when estimating future cash flows and in 2008 and 2009 considered the recession in our future sales assumptions. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. 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).

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