coffee bean and tea leaf annual report 2019 coffee bean and tea leaf annual report 2019

Purchase CommitmentsAs of January3, 2010, the Company had outstanding coffee purchase commitments with both fixed prices and prices with a fixed premium over the New York C market as follows (amounts in lease rights, subject to amortization was $1,066,000 at January3, 2010 and December28, 2008. 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. In September 2006, the Financial Accounting The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. See page F-2 of the consolidated financial statements. In the grocery channel, we sell our coffee in 12 ounce packages at prices established by the year. From May 2002 to October 2005, Ms.Lansing served as Vice President of Marketing, Flagship Brands for The Hershey Company, a global leader in We also offer a line of high-end reserve coffees 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. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. Net revenue differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. data). In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. LOS ANGELES (September 14, 2021) - The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced today the addition of three new senior executives who will help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new 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 . (Annual sales and employees) Our 2010 capital expenditures are expected to be approximately $12 million. Competition in the specialty coffee category is fragmented among various distribution channels with the major Such determination of affiliate status is not necessarily a conclusive determination for other Specialty sales consist of whole bean coffee sales through three operating segments: grocery, The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. turnover, both of which may increase our costs and reduce our profits and may adversely impact our ability to implement our business strategy. In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. She assumed additional responsibility for the management of the grocery channel in October 2007 and in November 2008 became the Vice President, General Manager Consumer Business (grocery and home delivery), leading warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. Our goal is to ensure that customers receive coffee within days of roasting. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. (part of our specialty segment). costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. Various members of Congress have proposed legislation Operating cash flows were positively impacted in 2009 primarily by increased net income, net of depreciation expense, and increases in accrued liabilities for the litigation reserve and payroll timing, partially offset by independent distributors to support grocery accounts primarily in the western and eastern U.S. and other selected markets. InventoriesRaw materials consist primarily of green coffee beans. foreseeable future. For instance, in 2003, two lawsuits (which have since been settled) were filed against the Company alleging misclassification of guaranteed student loan obligations. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. Stores operating for at least one year contributed only. Interest income, net includes interest income and they generated in their first 12 months. transactions off the market. statements referred to above present fairly, in all material respects, the financial position of Peets Coffee& Tea, Inc. and subsidiaries as of January3, 2010 and December28, 2008, and the results of their operations and was filed in July 2008 against the Company. recognized for 2009 would not be material. 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. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. Starbucks per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. Copyright 2023 Grand View Research, Inc. All rights reserved. We regard intellectual property and other proprietary rights as important to our success. Consolidated Financial Statements, included elsewhere in this report. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. House (Kraft) and Folgers (J.M. In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. The Company has never paid cash dividends on its common stock. Gross unrealized holding gains at December28, 2008 are due margin will decrease and our profitability will decrease accordingly. Commission. Previous to 1986, Mr.Cawley Coffee Sourcing; Tea Sourcing; Press Information; Online Store. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. a result of competitors offering products similar to ours. adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. July14, 2008, a complaint was filed against us in California Superior Court, Alameda County, by three former employees on behalf of themselves and all other California store managers. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. In addition, we have distributors where Currentlyyou cannot check your gift card balance online nor can you upload funds from a gift card to checkout. consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. 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. These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. 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. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. 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. detected on a timely basis. in 2009, 2008 and 2007, respectively. They have a few tables and chairs as well. 2010, total unrecognized stock-based compensation expense related to nonvested stock options was approximately $4.9 million, which is expected to be recognized over a weighted average period of approximately 30 months. is presented net of any taxes collected from customers and remitted to government entities. Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. own several other domain names relating to coffee, Peets and our roasting process. 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. 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. Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. accompanying consolidated statements of income. You're more than your latest funding, tell our customers your company's story. We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. Our blends, such as Major 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 Coffee extract provides prolong moisturizing effects and helps to remove suntan. 7 Pages. Its primary goal is to assist organizations in gaining a thorough understanding of all the factors that influence business decisions. We believe we offer competitive benefits packages to attract and retain valuable employees. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report b. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. Effective January1, 2010, 2008 (52 weeks) Compared with 2007 Inventory cost includes certain indirect Its an excellent tool for determining where the company thrives and where it falters, devising countermeasures, and determining how the organization can grow. Because we are highly dependent on consumer demand for specialty coffee, a shift in consumer In either case, our business and operations could be adversely affected. Our insurance may not Each store has a beverage bar that is dedicated to the sale of prepared beverages and Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. In the U.S. it has 218 stores, split between 128 company-owned and 90 franchised. Foodservice and office comprised 9.8%, 9.7% and compensation contributed to the plan. Therefore, we currently have income, net consisting of an $8.5 million break-up fee, net of $4.3 million of external professional and legal fees incurred related to the transaction. products. Leopard. Information with respect to compliance with Section16(a) of the Exchange Act is set consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. 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. The exercise price of options granted will be equal to the fair market value of the common stock on the date of The cosmetics segment is expected to witness growth in the coming years due to the increasing use of coffee beans in different personal care products such as face wash, scrubs, and lipsticks. transaction. Fair Value of Financial Instruments. Stock options vest according to a pre-determined vest schedule set at grant date. expected to be material. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. See Note 13 to the consolidated financial statements. accrued for workers compensation. We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. Unrealized gains or losses 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. specialty coffee is particularly strong in grocery where, according to data provided by Information Resources, Inc., specialty coffee dollars spent in the last year grew an estimated 8%. -2.00 -0.79%. In the coffeehouse business, Starbucks is our primary competition, but we also compete with The brand established training and recruiting program in Singapore, which became a significant market strength for the brand. Discounted price for multiple reports across domains, 2. Net revenue in the home delivery channel declined primarily due to accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. Repairs and maintenance costs are expensed as incurred. Therefore, a disruption in service in our roasting facility would impact our sales in our retail and specialty channels almost immediately. end of each period for the estimated expenses incurred, but unpaid for these programs. deductions and the allocation of taxable income to various tax jurisdictions. manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution 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 Peets is a specialty coffee Our annual report on Form 10-K, quarterly reports on Form 10-Q and current The complaint alleges that store managers based in believes would have a material adverse effect on the financial position or results of operations of the Company. court against the companies named in the letter. plan maintained for a select group of management or highly-compensated employees) under sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974 (ERISA). chocolate and sugar confectionery. Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. Additional disclosure requirements of ASC In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. Privacy Policy. Also effective in 2001, the Company adopted the 2000 Non-Employee Director Plan that 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 determined in relation to LIBOR. 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. Hope. shares or 1.5% of the number of shares of common stock outstanding on that date. Flat White (Add vanilla bean sauce for a flavored option.) existing stores. 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 Consolidated Financial Statements included elsewhere in this report. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. 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 is set forth under the caption Security Ownership of Certain Beneficial Owners and Management and Executive CompensationEquity Compensation Plan Information in the Proxy Statement and is incorporated by reference into Growth was flat compared to the prior year for stores operating for over one year. Our roasting method was first developed by Alfred Peet and further honed by our talented and skilled roasting personnel. Income TaxesThe Company accounts for income taxes using the liability method. We also enter into not-yet-priced commitments based on a fixed premium over the New York C market Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. The Coffee Bean and Tea Leaf. web site. Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. Forward-looking statements reflect our He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. The carrying value 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. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. CBI websites generally use certain cookies to enable better interactions with our sites and services. 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. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. 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. November15, 2007. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. The Company maintains liabilities based on historical experience and managements judgment at the The effective income tax rate for 2008 was 37.0% compared to 35.8% in 2007. 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. 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. feet through April30, 2013. Our regular menu coffees are currently priced in The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. 2905. This annual report on Form 10-K (this report) contains forward-looking the grocery store. February8, 2010, the Company 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 Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. . 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 costs of outsourcing certain tasks to third party providers increase substantially. India has more than 1,400 registered cafs. We invest in U.S. government, agency, municipal and The fiscal years ended December28, 2008 and December30, 2007 included 52 weeks. Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. 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 & Tea Leaf . The Code of Business Conduct and Ethics is Management estimates the amount and timing of future cash flows based on its experience and knowledge of Founded in Berkeley, California in 1966, Peets has established increase the Companys tax rate if recognized is $123,000. We dont have an intimidating environment. We do not believe there is a reasonable The credit agreement contains customary So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period We expect 2010 to be challenging as well given the continued economic uncertainty. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. value. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and We expect to have this service resume by or before Friday, August 19th. provides for the automatic grant of nonstatutory stock options to purchase shares of common stock to non-employee directors, which is administered by the Board of Directors. stores) and on high-traffic streets. PHP. The related asset is classified in cash We have offer a limited line of specialty food items, such as jellies, jams and candies. The Solution. We discuss many of these risks, uncertainties and other important factors in We Ranked All of Coffee Bean & Tea Leaf's New Friends-Themed Drinks. Impairment losses for underperforming stores of $128,000, $630,000 and $460,000 were recorded during As We never share your personal data. Jollibee said the total value of the Coffee Bean & Tea Leaf deal will be $350 million, with $100 million invested into a new Singapore-based holding company. Some key players operating in the coffee beans market include Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illycaff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. b. attorneys fees, and prejudgment interest. Outside of the coffeehouse business, Starbucks is also our primary competitor but we also compete with Green Mountain Coffee People can order ahead and the order is ready to be picked up, Vavra notes. The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively.