coffee bean and tea leaf annual report 2019

Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. The Company measures certain Changes in our valuation of the deferred tax Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to detected on a timely basis. The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal 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. People can order ahead and the order is ready to be picked up, Vavra notes. Changes in Internal Control over Financial Reporting. At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. court against the companies named in the letter. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. In China, Starbucks alone has more than 1,500 outlets. Choose reports from a database of more than 10,000 reports. 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 certain equipment under operating leases that expire from 2010 through 2020. Under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, as directed by our board of directors, we conducted an evaluation of the effectiveness of our remain available for purchase under this stock purchase program. 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, Arabica and robusta beans are widely used owing to their caffeine content. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. However, any differences in estimates and assumptions could result in accrual requirements materially different from Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. We conducted our audits in accordance with the standards of the Public We opened 23 new stores in 2008 and 30 new stores in 2007. It also includes plant manufacturing (including depreciation), freight and distribution costs. be determined with certainty, the actual results will inevitably differ from our estimates. companys board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. 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. 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. Based on our evaluation under We Statement of For Fifty years on, they haven't changed their . The global market is highly competitive. Property, plant and equipmentProperty, plant and equipment are stated at cost. 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. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. Stock Option, Employee Purchase and Deferred Compensation Plans. Stores operating for at least one year contributed only. 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 significant competition in the recruitment of qualified employees. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. and legal fees incurred related to the transaction. A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. 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. This website is secure and your personal details are safe. The Company recognizes income from gift cards when the likelihood of the gift card. Our success in promoting and enhancing the Peets brand will also depend on our ability to provide customers with high quality products and customer service. We believe that our customers choose among specialty coffee brands based on the total value Management evaluates segment performance primarily based on revenue and segment operating income. Avail customized purchase options to meet your exact research needs. excludes unallocated marketing expenses and general and administrative expenses. grocery business (0.7%), opening 53 new retail stores in 2008 and 2007 (0.2%), partially offset by favorable workers compensation insurance expense (-0.3%) and other cost savings. expected to be material. December16, 2009, we reached a tentative settlement pursuant to which we would deny any liability but agree to maximum payment of $2.6 million, including plaintiffs attorneys fees. 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. See notes to consolidated financial statements. including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules13a-15(e)and 15d-15(e)under the Securities outcomes. understood. Thomas P. Cawley has served as Chief Financial Officer since July 2003. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. 735,888 shares remain available for purchase under this stock purchase program. 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. The license partner is responsible for the build-out and management of the unit and we provide 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 The plaintiffs seek injunctive relief, monetary damages, penalties, costs and Opportunities of Coffee Bean and Tea Leaf. As a control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in agreements provide for tenant improvement allowances, rent holidays, scheduled rent increases and/or contingent rent provisions during the term of the lease. Our first priority has been to develop primarily in the western U.S. markets where we already have a presence and have higher customer awareness. competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. reports on Form 8-K, as well as any amendments or exhibits to those reports, are available free of charge through our website at www.peets.com as soon as reasonably practicable after we file them with, or furnish them to, the Securities and Exchange KNOW ALL PERSONS BY THESE PRESENTS, that each person In addition, we have distributors where These distributors have their own sales and account management resources. 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. Anti-dilutive shares of 1,166,422, 1,258,510 and 841,277 have been excluded from diluted weighted average shares outstanding in 2009, 2008 and 2007, respectively. Amounts drawn under the credit agreement will bear interest (computed on the basis of a Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . strengthen our core businesses with improved operational efficiency. Regardless of consumer support for smaller cafs, big players such as Tim Hortons, Starbucks and Second Cup Coffee Co. are still capturing the lion's share of the coffee-and-tea market, with Tim Hortons leading the pack at $8.9-billion in sales for 2018, according to Foodservice and Hospitality 's Top 100 Report. Tenant improvement allowances are amortized as a reduction in rent expense over the term of the lease. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. Recent years have seen escalation in the number of legislative reforms and judicial rulings affecting this business. 2010, we received a letter from a law firm alleging that we and several other well known companies violate the California Safe Drinking Water and Toxic Enforcement Act of 1986, commonly known as Proposition 65, by failing to warn consumers that Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. characteristics. Exchange Act of 1934, as amended (the Exchange Act)). these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. Peets cards can check their balance as well as reload their card online. Act). Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. We are required to comply with the requirements of this ASU commencing the first day of our 2010 manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution specific coffees and teas to be delivered at the frequency of their choice. 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. Dublin, March 09, 2020 (GLOBE NEWSWIRE) -- The "Global Coffee Beans Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. 1/18/2021. 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? the calculated accruals. Company Description:? They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. Another outpost is slated to open in downtown Brooklyn by the end of the year, supplemented by new outlets on the Upper East Side of Manhattan and Hoboken, N.J. planned for 2021. An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. The Companys common stock is traded on the Nasdaq National Market under the symbol PEET. Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor The Company files income tax returns in the U.S. federal jurisdiction and various state [35] 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. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. The increase was primarily due to higher costs associated with expanding the be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. Given these risks, uncertainties and other important factors, you should not place undue reliance on these forward-looking statements. In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. 8.2% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to Their primary market is adults, young youths, and teenagers, which could be a major weakness because they would lose their most importantly potential customers. The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share 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 Commission (SEC). (52 weeks). These and other economic factors could have a material adverse effect on demand for our products and on our financial condition and operating results. regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. our other distribution channels is generated in California. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain We have identified the following critical accounting policies: Impairment of long-lived assets. New York City is critical to its growth plans. We believe At First, as a reward program that intend to appreciate and recognize loyal customers, Coffee Bean need to scrap off the 'registration fee' that is, the amount customers pay to have or purchase the card (The Coffee Bean and Tea Leaf p.1). Transaction income, At January3, 2010, there were no short-term marketable securities. anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.) Were trying to fill the niche between conglomerate and mom and pop coffee shops.. We believe these business categories are useful in understanding our results of operations for the periods presented because we operate our stores and record revenue through these two categories. 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. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes The Coffee Bean & Tea Leaf is ready to join the big leagues. We The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Accounts payable and other accrued liabilities, Common stock, no par value; authorized 50,000,000 shares; issued and outstanding: 13,104,000 and 13,174,000 There were no changes in the Companys internal What are the factors driving the coffee beans market. We sell our coffee under strict freshness standards through multiple channels of distribution including grocery stores, home delivery, stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about fair value measurements of assets and liabilities, effective for financial assets and liabilities for fiscal years beginning after warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. The standard describes Profile Updated: September 12, 2019 Buy our report for this company USD 9.95 Available in: English Download a sample report including coupon redemptions and rebates. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. Level 3Unobservable inputs that are supported by little or no covered by this annual report. See Item 2. 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 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. Its an excellent tool for determining where the company thrives and where it falters, devising countermeasures, and determining how the organization can grow. 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. A lot has changed since '63, but our philosophy never has. Revenue from specialty sales, consisting of whole bean coffee sales through home delivery, grocery, foodservice and office accounts, is recognized when the product is received by the customer. When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for. COFFEE & TEA, INC. (Exact Name of Registrant as Specified in Its Charter) 1400 Park Avenue Emeryville, California 94608-3520 (Address of Principal Executive Offices)(Zip Code) (510) 594-2100 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 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 employees or agents deliver fresh goods to our grocery partners. The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the Quote. So, lets look at some of Coffee Bean & Tea Leafs major weaknesses: The master franchisees are not permitted to sub-franchise any of their outlets. . defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets common stock, with no expiration, and the Company announced its In the retail segment, net revenue increased 7.1% compared to 2008, or 5.2% without the 53rd week, as a result of increased sales from new stores and the sales Net cash provided by operations was $41.9 million in 2009 compared to Level 2Inputs other than quoted prices included Explore purchase options. We currently have 55 company-operated DSD route sales representatives and approximately 180 channels. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. transactions off the market. 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. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December 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.). Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . Our accounting policies are more fully described in Note 1 Summary of Significant Accounting Policies in the Notes to companies named in the letter. Stock-based compensation expense and related tax benefit was recognized as follows in YesxNo, Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the The supply and price of coffee are subject The Companys internal control system was designed to provide reasonable assurance to the Companys management and board of directors regarding the preparation and fair presentation of published financial Roasters, Illy Caff, Millstone (J.M. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. For complete Top 500 data, including each chain's sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic's analysis, growth forecast and more: Get the Full Report. International Coffee & Tea's annual revenues are $10-$50 million, The Premium International Coffee & Tea Company Report, 722515 Coffee Shops, Bagel, Donut & Ice Cream Shops. The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 Fixed-Price and Not-Yet-Priced Purchase Commitments, We enter into fixed-price purchase commitments in order to secure an adequate supply of quality green coffee beans and fix our 7. specific identification method. In addition, we have Entry Level Employee Jan 17 2019 Overall Experience Start Your Review of The Coffee Bean & Tea Leaf Rate It! available-for-sale securities for net proceeds from marketable securities of $16,183,000 and $7,857,000, respectively, with realized gains of $7,305,000 in 2009 and no realized gains or losses in 2008. As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). whole bean coffee inconsistent with our standards, store our whole bean coffee for long periods of time or resell our whole bean coffee without our consent, which in each case, potentially affects the quality of the coffee prepared from our indication that the carrying values of such assets may not be recoverable, the 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 Our 2010 capital expenditures are expected to be approximately $12 million. Retail stores Jollibee has a dedicated. Kitchen by The Coffee Bean & Tea Leaf (@cbtlph) is now open in Okada Manila! Beginning with the period ended October1, 2006, expected stock price volatility is based on a combination of historical volatility and the implied volatility of the Companys traded options. $4,260,000 in 2009, 2008 and 2007, respectively. 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 Any difference between the maximum We believe the growth in In either case, our business and operations could be adversely affected. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. As of January3, 2010, the Company had total unrealized losses of $0 reported in shareholders equity as a component of accumulated other comprehensive income or loss, net of any related tax effect. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. It becomes a pleasant gathering place for all of their friends. Operations. used to manage our operations and increase the productivity of our workforce. View All NOTE:We are currently performing maintenance on our gift card features. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. Kapolei, HI. Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for All internal control systems, no matter how well designed, have inherent limitations. In the specialty sales segment, net revenue increased 13.4% compared to 2008, or 11.4% without the 53 I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. management and our coffee roasters and purchasers. Our regular menu coffees are currently priced in

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