The coffee chain was. We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. Additional disclosure requirements of ASC ASU also clarifies existing fair value disclosures about the. Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . 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 Caffeine Essay. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. The specialty coffee category is highly Any difference between the maximum and the The global coffee bean. 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 . "The Coffee Bean & Tea Leaf . 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, The long-term liability related to In addition, we indirectly compete with more mainstream brands as Maxwell In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in lower costs resulting from leverage of our new roasting facility and freight efficiencies. The Company has not paid dividends in the past and does not plan to pay dividends in the near future. Property, plant and equipment assets are grouped at the A delay in shipping could: have an adverse impact on the quality of the coffee shipped, and thereby adversely affect our brand and reputation; result in the disposal of an amount of coffee that could not be shipped in a timely manner; and. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". The former Coffee Bean & Tea Leaf CEO takes helm as chain plans expansion Lisa Jennings | May 28, 2020 Industry veteran John Fuller has been named CEO and president of Boston-based. Growth was flat compared to the prior year for stores operating for over one year. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available See Item 2. Port, Pumphreys Blend, Summer House, and Snow In addition to registered and Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. The global market is highly competitive. Decent Essays. growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. Any unrealized gains and losses are recorded in other comprehensive income. The Committee also increased Mr.ODeas annual target bonus from 66% to 90% of his base salary for the 2010 fiscal year, and determined that the week in 2009 accounted for 2.0%. In the foodservice and office business, we have a staff of sales and account managers who make sales calls to potential accounts and conduct quality audits at our existing accounts. See Note 2. Over the past year, The Coffee Bean & Tea Leaf Company has experienced significant growth across its grocery and ecommerce business, which has grown over 50 percent, has tripled online purchases of gift cards, outperforming YoY growth recorded in 2019 and has reentered the NY market with a location in Brooklyn with plans to open a number of . Changes in Internal Control over Financial Reporting. Therefore, extracts are blended with lip balms, moisturizers, and different face creams. At January3, 2010, we had $47.9 million in cash and cash equivalents. We put the free in dairy-free. In addition, coffee is sold by coffee The fair value of the retail net asset is estimated using the discounted Shares of Common Stock held by each officer, director and each person Adverse publicity resulting from such allegations may materially adversely affect us, regardless of whether such allegations are true or whether we are ultimately held liable. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. Adverse publicity regarding product quality or food and beverage safety, whether or not accurate, may harm our business. As of January3, 2010, 735,888 shares See notes to consolidated financial statements. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. transaction. KNOW ALL PERSONS BY THESE PRESENTS, that each person Smucker). cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. We believe that we are in compliance in all material respects with all such laws and regulations and that we have obtained all material licenses that are required for the operation of our business. 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. Comparison of Starbucks with The Coffee Bean & Tea Leaf. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Following their success in Singapore, they believed that their business in Asia could flourish significantly. Explore purchase options. before applicable income taxes, based on the Companys closing stock price of $33.35 as of the last business day of the year, which would have been received by the optionees had all options been exercised on that date. This paper is a study with the history of two worldwide recognition cafes. We're here to enjoy life. Various members of Congress have proposed legislation On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). To ensure that our 2. other product costs. It is sometimes shortened to simply Coffee Bean or The Coffee Bean. Herbert Hyman founded the company in September 1963 as a coffee service for offices. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. (part of our specialty segment). Thomas P. Cawley has served as Chief Financial Officer since July 2003. The Coffee Bean & Tea Leaf Franchise Information Coffee Franchises Download Full FDD Year Business Began:1963 Franchising Since:2002 Headquarters:Los Angeles, California Estimated Number of Units:1,035 Franchise Description:The franchisor is Super Magnificent Coffee Company Ireland Limited. Growing awareness related to the health benefits of these beans has resulted in an increase in consumption among the diabetic population as it helps in reducing the risk of diabetes type 2. 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 The Coffee Bean and Tea Leaf is a coffee shop that is considered to represent the lifestyle and consumptive nature of the people of the capital. Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. Sales from beverages and pastries increased 16.0% to $133.8 million. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. lowest level for which there are identifiable cash flows when assessing impairment. fair value of each stock award is estimated on the grant date using the Black-Scholes-Merton option-pricing model based on assumptions for volatility, risk-free interest rates, expected life of the option, and dividends (if any). Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased 2008 on Form 8-K. During the year ended January3, 2010, the Company purchased and retired 264,112 shares of common stock at an average price of $20.32, in accordance with this stock purchase program. The Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. The success of our business depends upon our ability to attract and retain highly motivated, well-qualified management and other personnel, including technical personnel and retail employees. companies named in the letter. 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. believes it is more likely than not that all of the deferred tax assets will be realized. During the year and as of January3, 2010, Peets is a specialty coffee system in our retail stores that enhances productivity and customer service. Required fields are marked *. Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. Consolidated Financial Statements. a loyal customer base with strong brand awareness in California. Despite revenue growth that was less than our expectations, we 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 control over financial reporting was maintained in all material respects. Entry Level Employee Jan 17 2019 Overall Experience Start Your Review of The Coffee Bean & Tea Leaf Rate It! Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay our roasting plant. Changes in the subjective Gross unrealized holding gains at December28, 2008 are due We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. liabilities at fair value. three levels of inputs that may be used to measure fair value: Level 1Quoted prices in active Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. 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. 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%). 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. Because our business is based primarily in California, a worsening of economic conditions, a decrease in Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. information becomes available in the future. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf their vested stock options before exercising them, the estimated volatility of our common stock price over the expected term and the number of options that will ultimately not complete their vesting requirements. The principal measures and factors we considered in determining whether the products, spices, and packaged foods. incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. premises or other quality, health or operational concerns. Exchange Act Rule 13a-15(f). General and administrative expenses in Income TaxesThe Company accounts for income taxes using the liability method. In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. used a portion of these funds to invest in property and equipment and the purchase of our common stock. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. It has two components: net income and other comprehensive income. On October8, 2008, the Company filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. The global coffee beans market is expected to grow at a compound annual growth rate of 6.7% from 2019 to 2025 to reach USD 42.47 billion by 2025. b. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. The fair market value of In the retail segment, net revenue increased 11.5% 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. . become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. 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 Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 The Company routinely participates in trade-promotion programs such as shelf price reductions and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. channels. to be signed on its behalf by the undersigned, thereunto duly authorized. regulatory environment. In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and Although we were ultimately outbid for the business, the transaction resulted in a net gain of $11.5 million due to the receipt of a break-up fee and gains on the sale of Diedrich Coffee stock, net of external professional Based on the foregoing, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the After extensive research and analysis, Zippia's data science team found the following key financial metrics. 243 of 250. to fluctuations in interest rates. 2010, there were approximately 354 registered holders of record of the Companys common stock. expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. Peets Coffee& Tea, Inc., a Washington 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. transactions off the market. 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 In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and terms are included in the straight-line computation. data). Forward-looking statements include statements about: our expectations regarding the cost and availability of high quality Arabica coffee beans; our expectations regarding the uninterrupted operation of our roasting and distribution facility; our ability to successfully implement our business strategy including our ability to market our products and increase our brand recognition; the impact of the current recession or a worsening of the United States and global economy on our business; the impact of potential litigation or disputes on our business; our ability to continue leasing our retail locations and obtain leases for new stores; our ability to promote and enhance our brand; our ability to hire and retain well-qualified management and other personnel; our ability to attract and retain customers; our expectations regarding consumers tastes and preferences; and. Coffee Sourcing; Tea Sourcing; Press Information; Online Store. 6. All intercompany transactions have been eliminated in consolidation. Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. Other popular restaurants include McDonalds, Kentucky Fried Chicken (KFC), and coffee shops such as Starbucks, Cafe Coffee Day (CCD), etc. 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 some time in the U.S. CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY, Stock options exercised, including tax benefit, Stock sold in Employee Stock Purchase Program, Net unrealized gain on marketable securities, net of tax of $46, Stock purchased in accordance with share purchase program, Net unrealized loss on marketable securities, net of tax of $12, Net unrealized loss on marketable securities, net of tax of $23. In addition, we have distributors where Our 2010 capital expenditures are expected to be approximately $12 million. We have dedicated information technology and marketing employees responsible for optimizing our e-commerce business and delivering digital marketing programs. View All 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? health effects. Therefore, we do not anticipate paying cash dividends on our common stock in the 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 Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report The coffee bean card. We have only one roasting and distribution facility that roasts Peets coffee. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets In September 2006, the Financial Accounting See page F-2 of the consolidated financial statements. Companys fiscal year end is the Sunday closest to December31. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. $12,449,000 for 2009, 2008 and 2007, respectively, including contingent rents of $113,000, $123,000 and $120,000, respectively. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. In addition, green coffee bean prices have been affected in the past, and may be affected in the In addition to employment related claims, Peets may be subject to various claims and litigation. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. 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. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. Which segment accounted for the largest coffee beans market share? We believe we offer competitive benefits packages to attract and retain valuable employees. require us to contract with alternative, and possibly more expensive, common carriers. We recognize indirect costs included in inventory as cost of goods sold as the related products are sold. Our merchandise program consists of items such as brewing equipment for coffee and tea, paper filters and brewing accessories and branded and non-branded cups, saucers, travel mugs and serveware. Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the Revenue from If we lost the services of our coffee roasters and purchasers, 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
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