coffee bean and tea leaf annual report 2019

Outside of the coffeehouse business, Starbucks is also our primary competitor but we also compete with Green Mountain Coffee regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. operations data as a percent of net revenue. Specialty sales consist of whole bean coffee sales through three operating segments: grocery, The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee shop chain founded in 1963. Amounts drawn under the credit agreement will bear interest (computed on the basis of a In 2009, 2008 and 2007, the Company granted non-employee director options to purchase an aggregate Impairment of Long-Lived AssetsWhen facts and 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 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. cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. The stock price performance shown in the graph is not necessarily indicative of future price performance. This impairment charge is included in operating expenses in the accompanying consolidated statements of income. online dashboard trial. reserved for issuance under the 2000 plan will be increased automatically by the lesser of (i)five percent (5%)of the total number of shares of common stock outstanding on such date, (ii)five hundred thousand (500,000)shares, See notes to consolidated financial statements. We many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. 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. Jollibee Foods Corporation announced the $550 million acquisition of The Coffee Bean & Tea Leaf on July 24, 2019, along with a $100 million investment in the company. 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 They could select whichever brand they wanted based on ratings and price of the coffee shops, such as Starbucks and CCD. California were not paid overtime wages, were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Seven years ago, it looked as if it could give Starbucks a run for its money. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new Any unrealized gains and losses are recorded in other comprehensive income. 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 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 Addition or alteration to country, regional & segment scope. products. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. on Fair Value 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. and legal fees incurred related to the transaction. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. 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 During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting Learn more. Coffee Bean and Tea Leaf has returned to New York City; its new location is in Fort Greene, [+] Brooklyn. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. Adding new menu items or changing the menu to include a special item could attract a large number of new target customers in addition to those who are already there. The company was founded by 2 people, Mona and Herbert Hyman. $21.91, respectively. plan is 750,000. The Coffee Bean & Tea Leaf | CBTL counter top scales and hand packed into branded bags. Operating leasesCertain of the Companys lease specialty sales. We are b. The manufacturers are focusing on launching different flavors and new products to increase their market share. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. high value on our Peets trade name, and we own several trademarks and service marks that have been registered with the United States Patent and Trademark Office, including Peets, Peets Coffee& Tea Because we do not hold any patents for our roasting methods, it may be difficult for us to prevent competitors from copying our roasting methods. Outside of the coffeehouse business, Starbucks is also our primary competitor Your transaction & personal information is safe and secure. We purchase only Arabica coffee beans, which are considered superior to beans traded in the commodity market. 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 We roast to order and ship fresh coffee daily These accounting policies and estimates are periodically reevaluated, and adjustments are 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 As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. was with The Quaker Oats Company and General Foods. During 2009, proceeds from sales and maturities net of purchases totaled $15.8 million, including $7.7 million of Diedrich common stock. Peets Coffee& Tea, Inc., a Washington December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December cash flows of the assets. intent and ability to hold the securities to recovery. The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorized Our goal is to ensure that customers receive coffee within days of roasting. small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. following table summarizes the differences between basic weighted average shares outstanding and diluted weighted average shares outstanding used to compute diluted net income per share (in thousands): Basic weighted average shares outstanding, Incremental shares from assumed exercise of stock options, Diluted weighted average shares outstanding, On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC 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. The Coffee Bean and Tea Leaf (Malaysia) Sdn. not declared or paid any dividends on our capital stock since 1990. for the years ended December28, 2008 and December30, 2007 were $43,000 and $28,000, respectively. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. What are the factors driving the coffee beans market. flavor of our coffees. An unfavorable report on the health effects of caffeine or other compounds present in coffee could significantly reduce the demand for coffee, which could harm our business and reduce our sales and profits. purchased for home consumption. This, in turn, is expected to fuel demand for coffee beans over the forecast period. Sep 9, 2022. Our stores are typically located in urban neighborhoods, suburban shopping centers (usually consisting of grocery, specialty and service Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. A companys internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the however may not be less than 85% of the fair market value of common stock at the grant date. Founded in Berkeley, California in 1966, Peets has established Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. 9. Jollibee Acquires Coffee Bean & Tea Leaf for $350M Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. 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 We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated . Opportunities of Coffee Bean and Tea Leaf. profits to suffer. 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 Following their success in Singapore, they believed that their business in Asia could flourish significantly. From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. All intercompany transactions have been eliminated in consolidation. warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. May 13, 2021, 07:01 ET. roasting and distribution facility, whether as a result of a natural disaster or other causes, could significantly impair our ability to operate our business. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included 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 Customers have several options for where they can buy the product. participants on the measurement date. Did you find this Coffee Bean and Tea Leaf SWOT Analysis useful? We invest in U.S. government, agency, municipal and Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and When ceasing operations under according to the National Coffee Association. 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 All internal control systems, no matter how well designed, have inherent limitations. Commission. entire target bonus would be cash-based. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. 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. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. Since 1979, we have costs related to the roasting facility that opened in 2007 and waste management in retail (-0.3%), and increased prices in retail (-0.2%). We discuss many of these risks, uncertainties and other important factors in involved as defendants in lawsuits relating to Peets stock option granting practices. Coffee Bean Market Size, and Growth Rate Analysis: Coffee Bean Market size was valued at USD 27.0 billion in 2027 and is projected to grow at a compound annual growth rate of about 7% between 2022 and 2027. are highly exposed to this environment. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. From 2001 to 2003, 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. 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. The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. distribution channels being coffeehouses (our retail segment) and grocery stores (part of our specialty segment). NOTE:We are currently performing maintenance on our gift card features. 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,

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