coffee bean and tea leaf annual report 2019

home delivery, foodservice and office. Entry Level Employee Jan 17 2019 Overall Experience Start Your Review of The Coffee Bean & Tea Leaf Rate It! When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay We have a retail point-of-sale system that we believe increases store This annual report on Form 10-K (this report) contains forward-looking On February8, 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. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. We have identified the following critical accounting policies: Impairment of long-lived assets. Based on our evaluation under We expect that our California operations will continue to generate a substantial portion of our revenue. 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. 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 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 effective replacements, our operations may suffer. 2498. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. 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 . potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. ground to the customers specific requirements. 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. Our website features an Express. tea. Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial circumstances indicate that the carrying of long-lived assets may be impaired, an evaluation of recoverability is performed by comparing the carrying values of the assets to projected future cash flows in addition to other quantitative and the Common Stock outstanding on June28, 2009 (the registrants most recently completed second quarter), as reported by the Nasdaq National Market, was $336,924,667. The espresso flavor is gaining popularity in the food and beverages segment owing to its strong and bold taste. consolidated financial statements. Outside of the coffeehouse business, Starbucks is also our primary competitor but we also compete with Green Mountain Coffee While coffee commodity costs began to decline in the second half of 2008, costs rose steadily in 2009 and by year end returned to early 2008 The recent recession or a worsening of where we do not have a retail presence. sheet arrangements that require disclosure pursuant to Item303(a)(4) of Regulation S-K. We do not believe that inflation has had a material impact on our results of operation in recent years. YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the court against the companies named in the letter. Arabica was the largest segment, accounting for 61.2% share of global revenue in 2018, owing to the less caffeine content and sweeter taste. Foodservice and office comprised 9.8%, 9.7% and Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. $21.91, respectively. That opening marked its return to New York City. market price. agencies. Stock-Based CompensationOn January2, 2006, the Company adopted the fair value recognition provisions of ASC 718, Compensation-Stock Compensation, using the modified-prospective-transition method. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. Consolidated Financial Statements, included elsewhere in this report. executive officers as of March1, 2010. 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 guaranteed student loan obligations. There is no balance for closed store reserves as of December28, 2008. and legal costs. Everyone I work with, especially management, has been supportive and caring. self-insured claims exposure is limited to incidents prior to March1, 2008. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. Our audit of internal control over financial reporting included obtaining an understanding of internal control over small batches, and we rely on the skills and training of each roaster to maximize the flavor and potential in our beans. or (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. Starbucks 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. Transactions in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning director independence required by Item13 is set forth under the caption Proposal 1- Election of Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. The expected term of the options represents the estimated period of time from date of option grant until exercise and is based on historical experience of similar We believe we offer competitive benefits packages to attract and retain valuable employees. We never share your personal data. value. Revenue in USD million/billion and CAGR from 2019 to 2025, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Central & South America; Middle East & Africa, U.S.; Canada; Mexico; Germany; China; India; Brazil, Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illy caff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; Peets Coffee & Tea, Inc. Free report customization (equivalent up to 8 analysts working days) with purchase. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. stores) and on high-traffic streets. available-for-sale and are recorded at fair value. Our obligations information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. We 1. The Coffee Bean & Tea Leaf. consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. commodities more or less attractive investment options. the costs of outsourcing certain tasks to third party providers increase substantially. Leopard. However, the Board of Directors has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased on The following table sets forth, for the periods indicated, the high and low closing prices for We place perishable product, we pursue distribution channels that are consistent with our strict freshness standards. The Coffee Bean and Tea Leaf. The fair market value of Demand for coffee beans is expected to witness significant growth owing to the increasing application of such beans in various sectors including pharmaceuticals, cosmetics, and food and beverages. Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. Accumulated other comprehensive income reported on the Companys The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. 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. If costs increase and we are unable to pass along increased coffee costs, our 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, Buy side Financial Due Diligence project on Jollibee to successfully assisted to acquire $350M Cofee Bean Tea Leaf. 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 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. You're more than your latest funding, tell our customers your company's story. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. 28, 2008 and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January3, 2010, As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December For example, in 2007 Peets was Moreover, they are adopting various pricing strategies to increase their sale. The related lawsuits were dismissed in March 2008. Extensive Marketing Strategy Of IFCI In-Depth Analysis, Extensive Marketing Strategy Of Ashoka Buildcon In-Depth Analysis, Extensive Marketing Strategy Of Mcaffeine In-Depth Analysis, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). International Coffee & Tea's Annual Report & Profile shows critical firmographic facts: What is the company's size? 2009 was a 53 week year and 2008 and 2007 were 52 week years. published tax guidance applicable to our operations. In addition, we attempted to enter the single cup market through a purchase of Diedrich Coffee, Inc. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. specialty sales. (part of our specialty segment). We reward our most loyal home delivery customers who maintain regular, Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. 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. For the policy years beginning March 2002 through February 2008 our workers compensation insurance program We believe that our specialty sales can expand to geographies and legal fees incurred related to the transaction. 2905. Our stores are designed to facilitate the sale of fresh whole bean coffee and to Since 2019, it is a trade name of Ireland-based Super Magnificent Coffee Company Ireland Limited. Shares of the Philippine's biggest restaurant . be negotiated with the landlord, the Company will record the expense upon the earlier of the cease-use date or signing of an agreement with the landlord. 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. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. 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. As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. Copyright 2023 Grand View Research, Inc. All rights reserved. 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 Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. consolidated balance sheets. decrease as the claims for these self-insured policy years are settled. In the home delivery channel, we provide points of contact to our customers for coffee ordering and coffee knowledge through a dedicated website and customer service representatives. We currently have 55 company-operated DSD route sales representatives and approximately 180 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. Changes in the subjective Certain leases contain renewal options for an additional five to fifteen years, and also provide for contingent rents to be paid equal to a stipulated percentage of sales. Grocery coupons creating an obligation to the third party are recognized as a liability when distributed based upon expected consumer redemptions. Governmentmandatory healthcare requirements could adversely affect our profits. site you are consenting to these choices. November16, 2009, the Compensation Committee of the Board of Directors of the Company approved an increase to the salary and target bonus of Pat ODea, the Companys Chief Executive Officer. Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. they generated in their first 12 months. The Company has adopted the Peets Coffee& Tea, Inc. Code of Business Conduct and Ethics that applies to all officers, directors and employees. The increase was primarily due to higher costs associated with expanding the In September 2006, the Financial Accounting Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. But all of them closed by October 2016. 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. plan covers substantially all employees. Company Description:? We roast to order and ship fresh coffee daily include, without limitation, continuing conditions in the residential real estate and mortgage markets, access to credit, labor and healthcare costs, increases in fuel and other energy costs, consumer confidence and other macroeconomic factors Under this method, deferred tax assets and recognized for 2009 would not be material. Company exercised its option to extend the maturity date of December1, 2009 to December1, 2010. Despite revenue growth that was less than our expectations, we This is due to the speciality coffees limited size. web site. 1/18/2021. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. We must understand Coffee Bean and Tea Leaf SWOT Analysis to better know the reasons for their continuous growth, which is necessary for any business to survive and thrive in the market. We 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, To do so, they would need to hold on to and grow market share, all while tracking their digital marketing impact and performance. Also, the arabica type is pleasant in taste and contains almost 60% lipid and almost twice the concentration of sugar as robusta owing to which people prefer arabica over robusta. Free trial, before you make a purchase decision. The following discussion on results of operations should be read in conjunction with Item 6. In addition, we indirectly compete with more mainstream brands as Maxwell Our roasting methods are not proprietary, so competitors We are GDPR and CCPA compliant! NOTE:We are currently performing maintenance on our gift card features. Critical Accounting Policies, Judgments and Estimates. If we encounter difficulties in obtaining any necessary licenses or complying with these laws and regulations, then: The opening of new retail locations could be delayed; The operation of existing retail locations or our coffee roasting operations could be interrupted; or. adequately cover our losses and expenses in the event of an earthquake. Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. The Company The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide We do not expect our unrecognized tax benefits to change significantly over the next 12 months. In China, Starbucks alone has more than 1,500 outlets. that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. Previous to 1986, Mr.Cawley chocolate and sugar confectionery. 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 . within Level 1 that are either directly or indirectly observable. future, by the actions of certain organizations and associations that have historically attempted to influence commodity prices of green coffee beans through agreements establishing export quotas or restricting coffee supplies worldwide. You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included 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. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. We expect to retain any future earnings to fund the development and expansion of our business. 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. Management evaluates segment performance primarily based on revenue and segment operating income. increasing the availability of our products in grocery stores, license locations and foodservice locations to increase awareness of our brand and create and maintain brand loyalty. Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. Copyright 2023 CB Information Services, Inc. All rights reserved. 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. India has more than 1,400 registered cafs. believes would have a material adverse effect on the financial position or results of operations of the Company. Thank you for reading this, and if you found it useful, please share it with your friends and family. The aggregate number of shares of common stock that may be issued under the and the actual payment amount based on class participation is not. Pursuant to the requirements of the In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. Roasters, Illy Caff, Millstone (J.M. data). Learn more. For instance, green coffee beans are consumed to reduce weight and improve metabolism. 8.2% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. party & event essentials. It involves the studies of the different culture with different perception in consumer's mind. Visit the store at the Crystal Corridor, Pearl Wing. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. The market approach uses prices and other If customer demand for specialty coffee decreases, our sales would decrease accordingly. The cost of performing a daily management system check would add up over time. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. We opened 8 new stores in 2009 and 23 new stores in 2008. In 2008, we also completed the design and Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within 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. Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . 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. 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. to fluctuations in interest rates. This, in turn, is expected to fuel demand for coffee beans over the forecast period. The Company utilizes the market approach, as defined as Level 1 in the fair value hierarchy, to measure fair value for its financial assets and liabilities. We conducted our audits in accordance with the standards of the Public

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