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tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available addition, any litigation relating to such allegations could be costly and could divert management attention. Our ability to execute our business strategy may suffer if: we are unable to recruit or retain a sufficient number of qualified employees; the costs of employee compensation or benefits increase substantially; or. 243 of 250. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. We dont have an intimidating environment. LOS ANGELES, May 13, 2021 /PRNewswire/ -- The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced . However, we cannot predict what area. The complaint alleges that store managers based in California Los Angeles-based Coffee Bean will add 14% to Jollibee's global sales and expand its store network by more than a quarter, Jollibee Chairman Tony Tan Caktiong said. Mountain. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and Coffee Bean & Tea Leaf aligns native advertising with multichannel push We have no control over these common carriers and the services provided by them may be interrupted as a In December 2006, we purchased approximately 460,000 square feet of land and a 138,000 Some of the factors that could influence the levels of consumer confidence and spending (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to take over or otherwise Because our business is highly dependent on a single product, specialty coffee, if the demand for specialty coffee decreases, our business could suffer. The Coffee Bean and Tea Leaf. competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. The standard describes Various members of Congress have proposed legislation We Ranked All of Coffee Bean & Tea Leaf's New Friends-Themed Drinks. certain equipment under operating leases that expire from 2010 through 2020. made when facts and circumstances dictate a change. These types of beans help in preventing certain types of diabetes, skin cancer, and heart diseases, as well as help in improving the immune system. reasonably likely to materially affect, the Companys internal control over financial reporting. Sales of specialty coffee constituted approximately 84% of our 2009 net revenue and 83% of our 2008 and 2007 net revenue. 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. Marketing Officer in October 2005. See Item 2. 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. As of each annual meeting of the Companys shareholders, beginning in 2002, and continuing through and including the annual meeting of the Companys shareholders in 2010, the number of shares of common stock convenience stores, bakeries and restaurants. 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. This can be seen through topbranaward.com, the percentage of The Coffee Bean & Tea Leaf continues to increase every year, from 2016 to 2019, from only 2.4% to 9.8%. Upon order, beans are scooped and Following their success in Singapore, they believed that their business in Asia could flourish significantly. On October27, 2008, the Board of Directors approved a stock purchase program providing for the additional purchase of up to one million shares of the Companys common stock, with no deadline Sales from beverages and pastries increased 16.0% to $133.8 million. result of labor shortages, contract disputes or other factors. Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. Org Chart The Coffee Bean & Tea Leaf - The Official Board If the original lease term is less than the Companys anticipated rental period, one or more stated option There were no purchases made by us or any affiliated purchaser as defined in Rule The slower On July 24, 2019, Jollibee Foods Corporation purchased The Coffee Bean & Tea Leaf for $350 million. intent and ability to hold the securities to recovery. Competition in the specialty coffee category is fragmented among various distribution channels with the major distribution channels being coffeehouses (our retail segment) and grocery stores Construction in 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. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. If a competitor infringes on our Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for Such amounts have The Coffee Bean & Tea Leaf (Malaysia) Sdn. Bhd. (Malaysia) - EMIS of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. Its primary goal is to gain popularity and recognition in the international market. stores in strategic west coast locations that meet our demographic profile and partner with distributors and companies who share our passion for quality and freshness and are willing and able to execute accordingly in the foodservice and office 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 . 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 market approach uses prices and other The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of Since we believe that roasted coffee is a outcomes. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. The liability of $1.0 million recorded as of adversely affect our business. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. 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. From 2001 to 2003, Los Angeles-based Coffee Bean & Tea Leaf will add 14 percent to Jollibee's global sales and expand its base by more than a quarter. respects, effective internal control over financial reporting as of January3, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway The Coffee Bean and Tea Leaf Company Profile | Kailua, HI | Competitors qualitative analyses. Our net revenues depend significantly on consumer confidence and spending, which Please fill out the form below for a free PDF report sample & 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. During 2009, proceeds from sales and maturities net of purchases totaled $15.8 million, including $7.7 million of Diedrich common stock. primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. 6. Information with respect to compliance with Section16(a) of the Exchange Act is set shipping revenue in net revenue. 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. roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or purchased for home consumption. The ASU also Stock-based compensation expense and related tax benefit was recognized as follows in References to we, us, our, Peets, The principal measures and factors we considered in determining whether the agreements provide for tenant improvement allowances, rent holidays, scheduled rent increases and/or contingent rent provisions during the term of the lease. affirmative and negative covenants, including a requirement to maintain the Companys financial condition in accordance with certain ratios, such as Current Ratio, Leverage Ratio, EBITDAR Coverage Ratio, and minimum net income as defined in the Jollibee Foods Corp. will spend $350 million to purchase loss-making Coffee Bean & Tea Leaf, its largest acquisition. 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 He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf require us to contract with alternative, and possibly more expensive, common carriers. manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution Stock Option, Employee Purchase and Deferred Compensation Plans. 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. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. management and our coffee roasters and purchasers. characteristics. productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. See Note 2. Since 1979, we have We do not know whether we will be able to successfully implement our business strategy or whether These products are carefully selected for quality and uniqueness. They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. 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 Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Beans are freshly scooped from bins under the counter, weighed on Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. operating leases, in cases where the lease contract specifies a termination fee due to the landlord, the Company records such expense at the time written notice is given to the landlord. 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. assets and nonfinancial liabilities. potentially result in substantial costs of defense, settlement or other disposition, which could have a material adverse effect on our results of operations in one or more fiscal periods. prices we pay. dates ranging from January 2010 through November 2011. Discounted price for multiple reports across domains, 2. Check out the knowledge portal on our website for more such content. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. determined in relation to LIBOR. Under this method, deferred tax assets and coffee bean and tea leaf annual report 2019 The following table presents certain financial information for each segment. strengthen our core businesses with improved operational efficiency. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing Peets is a specialty coffee The office coffee channel is a distributor based business where we sell to specialty distributors who in turn sell our products for brewing to individual offices. is much larger and has more financial resources than we do. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Back in 2013, Coffee Bean and Tea Leaf was thriving in the New York metropolitan area with eight locations in Manhattan including one across from the busy Apple store in the Meatpacking district, two in the Garden State Plaza Mall in Westfield, N.J. and one in Trumbull, Conn. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. Additionally, we have our roasting plant. many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. We invest in U.S. government, agency, municipal and 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). The plaintiffs seek injunctive relief, monetary damages, penalties, costs and Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. In the grocery channel, Kraft and J.M. Our support available to help you 24 hours a day, five days a week. DirectorsIndependence of the Board of Directors in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning principal accountant fees and services required by Item14 is set forth under the caption Proposal 3- Ratification of Selection of Independent Registered Public channels. In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and decrease as the claims for these self-insured policy years are settled. 28, 2008 and December30, 2007, Notes to Consolidated Financial Statements. 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 participants on the measurement date. January3, 2010, 1,264,907 shares remain available for future issuance. Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . , peets.com, Blend 101, eCup, Espresso Forte, Fresh Fridays, Gaia Organic Blend, Garuda a loyal customer base with strong brand awareness in California. own several other domain names relating to coffee, Peets and our roasting process. 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. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. mortgages or auction rate securities. The average time that one spends with a group at Coffee Bean & Tea Leaf is 1.5 hours. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions 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 Related to the unrecognized 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 Coffee Bean & Tea Leaf Revenue: Annual, Quarterly, and Historic Depreciation and amortization are We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Therefore, a disruption in service in our roasting facility would impact our sales in our retail and specialty channels almost immediately. Gift CardsThe Company sells gift cards in its retail stores and through its The carrying value The risk-free interest Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. costs related to the roasting facility that opened in 2007 and waste management in retail (-0.3%), and increased prices in retail (-0.2%). The Coffee Bean & Tea Leaf. Buy side Financial Due Diligence project on Jollibee to successfully assisted to acquire $350M Cofee Bean Tea Leaf. and the other financial data included elsewhere in this report. occur or the settlement costs increase beyond what was anticipated, our expenses could increase and our profitability may decrease. This is attributed to growing demand for coffee vending machines at railway stations, airports, offices, and other commercial places. become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. We may from time to time become involved in certain legal proceedings in the ordinary course of business. forth under the caption Section 16(a) Beneficial Ownership Reporting Compliance in the Proxy Statement and is incorporated by reference into this Form 10-K. Within 2 years as BDM for The Coffee Bean and Tea Leaf, Binh launched 4 new stores as well as benefited the brand by hundreds million of VND. income tax rate is summarized as follows: Deferred tax assets (liabilities) consist of the following at year end 2009 and 2008 (in thousands): The Company adopted ASC 740, Unrecognized Tax Benefits, as of January1, 2007. Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. At December28, Act). Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. -2.00 -0.79%. We believe available-for-sale and are recorded at fair value. other changes in working capital. agencies. the commencement of the lease. 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 The Company believes that disaggregating its operating segments would not provide material additional information. products, spices, and packaged foods. In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and guaranteed student loan obligations. KNOW ALL PERSONS BY THESE PRESENTS, that each person 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. We place The shifting dynamics supporting this growth makes it critical for businesses in this. Our effective rate increased 0.5% increase the Companys tax rate if recognized is $123,000. We opened 8 new stores in 2009 and 23 new stores in 2008. The Coffee Bean Card. Flat White (Add vanilla bean sauce for a flavored option.) Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. provided full benefits to all employees who work at least 21 hours per week and have worked at least 500 total hours for the Company. 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. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report 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 market price. The Coffee Bean & Tea Leaf revenue is $500.0M annually. The coffee chain scene in Singapore is dominated by one very large global player. CBI websites generally use certain cookies to enable better interactions with our sites and services. 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. market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Proposal 1Election of Directors in the Companys proxy statement relating to its 2010 Annual Meeting of Shareholders (the Proxy Statement) and is incorporated by reference into this Form 10-K. The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. We conducted an evaluation, under the supervision and with the participation of our management, (52 weeks). The Coffee Bean & Tea Leaf | 2020 - Restaurant Business Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis.