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

On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). Caffeine Essay. In addition, we have a lease for a second office and warehouse space totaling approximately 8,000 square Revenue from specialty sales, consisting of whole bean coffee sales through home delivery, grocery, foodservice and office accounts, is recognized when the product is received by the customer. Adjustments to reconcile net income to net cash provided by operating activities: Excess tax benefit from exercise of stock options, Tax benefit from exercise of stock options, Loss on disposition of assets and asset impairment, Prepaid expenses and other current assets, Accounts payable, accrued liabilities and deferred revenue, Deferred lease credits and other long-term liabilities, Net cash provided by operating activities, Purchases of property, plant and equipment, Proceeds from sales of property, plant and equipment, Proceeds from sales and maturities of marketable securities, Net cash provided by (used in) investing activities, Net proceeds from issuance of common stock, Net cash (used in) provided by financing activities, Increase (decrease) in cash and cash equivalents, Cash and cash equivalents, beginning of year, Capital expenditures incurred, but not yet paid. November15, 2007. Some Alternates fit, except 'e' that don't match. Since 1979, we have Healthcare is evolving, and more people want to take charge of their health rather than passively accept medical decisions. Competition in the specialty coffee market is intense and could affect our profits. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. Learn how your comment data is processed. primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. 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. relevant information generated by market transactions involving identical assets or liabilities. The Company operates in two reportable segments: retail and 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, This, in turn, is expected to gain popularity among the working population over the forecast period. Thomas P. Cawley has served as Chief Financial Officer since July 2003. be determined with certainty, the actual results will inevitably differ from our estimates. As a The Coffee Bean & Tea Leaf' is a coffee chain company that produces Californian-based coffee. Scrubby Regular is close but not a perfect match on all letters. in 2009, 2008 and 2007, respectively. Board of Directors and Shareholders of Peets Coffee& Tea, Inc.: We have audited the accompanying consolidated balance sheets of Peets Coffee& Tea, Inc. and subsidiaries (the purchased for home consumption. Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor We believe we offer competitive benefits packages to attract and retain valuable employees. Various members of Congress have proposed legislation Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. expected to be material. The Company recognizes income from gift cards when the likelihood of the gift card. recognized for 2009 would not be material. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, 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. For the policy years beginning March 2002 through February 2008 our workers compensation insurance program Required fields are marked *. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. 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. 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. Jollibee has a dedicated. In addition, we indirectly compete with shares, Total liabilities and shareholders equity. The global coffee bean. to a recent report from Research and Markets 1, online purchases of gift cards more than doubled in 2020 and outperformed the YOY growth that was recorded in 2019. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. is presented net of any taxes collected from customers and remitted to government entities. The Coffee Bean Market Size & Share: Industry Report, 2022-2027 We transitioned our operations 28, 2008, and December30, 2007, REPORT OF INDEPENDENT REGISTERED PUBLIC In addition, we indirectly compete with more mainstream brands as Maxwell is much larger and has more financial resources than we do. 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. 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 for completion and the Company announced its plan on October28, The Coffee Bean & Tea Leaf is betting on 'Starbucks fatigue' - CNNMoney accompanying consolidated statements of income. (Annual sales and employees). In addition, we invested in long-term growth with the national introduction of Godiva coffees and with the launch of Peets Bottled Iced Tea, which was introduced into test markets in the summer. prices we pay. In the specialty sales segment, net revenue increased 19.9% compared to 2007 as summarized by business channel below. We consider our roasting methods essential to 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 increase capacity at our roasting facility. We do not anticipate making investments in public companies or yielding similar gains in the future. For this study, Grand View Research has segmented the global coffee beans market report based on product, application, and region: Product Outlook (Revenue, USD Billion, 2015 - 2025), Application Outlook (Revenue, USD Billion, 2015 - 2025), Regional Outlook (Revenue, USD Billion, 2015 - 2025). Interest income, net includes interest income and The Coffee Bean & Tea Leaf Employee Reviews - Niche Revenue from 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. coffee bean and tea leaf annual report 2019 - sensornor.com This relates to state exposures from not filing a state tax return. The Company believes that disaggregating its operating segments would not provide material additional information. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and adversely affect our business. Our retail locations are all company-owned and operated in leased facilities. The fair market value of Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. Free upgrade to enterprise license (allows to share across all company locations), 5. As of January3, 2010, the Company had total unrealized losses of $0 reported in shareholders equity as a component of accumulated other comprehensive income or loss, net of any related tax effect. The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. We expect that our California operations will continue to generate a substantial portion of our revenue. Following their success in Singapore, they believed that their business in Asia could flourish significantly. 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 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 In the retail segment, net revenue increased 11.5% The Coffee Bean & Tea Leaf Franchise Information three levels of inputs that may be used to measure fair value: Level 1Quoted prices in active No valuation allowance for deferred tax assets was recorded as management Set forth below is information with respect to the names, ages, positions and offices of our The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share Despite its popularity, the coffee chain logged $21 million in losses. above LIBOR in effect on the first day of the applicable period commencing on a business day and continuing for 1, 3, or 6 months, as designated by the Company, during which all or a portion of the outstanding principal balance will bear interest Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. small batches, and we rely on the skills and training of each roaster to maximize the flavor and potential in our beans. The gift cards do not have an expiration date. Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. We believe that our specialty sales can expand to geographies Kitchen by The Coffee Bean & Tea Leaf (@cbtlph) is now open in Okada Manila! cash flows of the assets. Retail store operations consist of sales of whole bean coffee, beverages, tea and related products through Company-operated retail stores. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. Our blends, such as Major We purchase tea directly from importers and brokers and store and pack the tea at our facility in Alameda, California. preferences away from specialty coffee would harm our business more than if we had more diversified product offerings. 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. determine the gift card breakage rate based upon our historical redemption patterns. On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value No transaction income, net was recorded in fiscal 2008 or 2007. The following table summarizes the activity related to unrecognized tax benefits (in thousands): The amount of unrecognized tax benefits that would 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. Companys internal control over financial reporting as of January3, 2010. Localized Strategy | Let's Make it Warm Again! For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. The Coffee Bean & Tea Leaf revenue is $500.0M annually. Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. transaction. Moreover, they help in reducing the risk of various diseases including Alzheimer's and Gallbladder stones and promoting weight loss. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". Founded in Berkeley, California in 1966, Peets has established The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. The employee related expenses and lease obligation costs included in the table above are classified in operating expenses and cost of sales and related occupancy expenses, respectively, in the Explore purchase options. stores. A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. Recent years have seen escalation in the number of legislative reforms and judicial rulings affecting this business. assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. exporters, brokers and growers. For instance, in 2003, two lawsuits (which have since been settled) were filed against the Company alleging misclassification of Coffee Bean & Tea Leaf's latest post-money valuation is from July 2019. detected on a timely basis. Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. The Coffee Bean & Tea Leaf | CBTL outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. In 2009, the Company recorded a charge of $128,000 related to the impairment of assets at an under-performing store. People can order ahead and the order is ready to be picked up, Vavra notes. In 2009, we opened 8 new stores and we 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 January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. Substantial Acquisitions - Philippine Stock Exchange 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. Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and A significant interruption in the operation of our Because we are highly dependent on consumer demand for specialty coffee, a shift in consumer Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. Increasing penetration of franchise outlets such as CCD and Starbucks in India, China, and other countries is the main factor anticipated to drive the market over the forecast period. The In addition, each operating segment has similar products, similar production processes, similar methods of distribution and a similar other changes in working capital. Our registers have touch screen components and full point-of-sale capability. This is a BETA experience. Our fiscal year is based on a 52 or 53 week year. Our stores are designed to facilitate the sale of fresh whole bean coffee and to encourage customer trial of our coffee through coffee beverages. costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. During the year and as of January3, 2010, there were no borrowings outstanding under this agreement, and unused Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. Exchange Act of 1934, as amended (the Exchange Act)). Arabica and robusta beans are widely used owing to their caffeine content. The stock price performance shown in the graph is not necessarily indicative of future price performance. For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our self-insured claims exposure is limited to incidents prior to March1, 2008. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. products, spices, and packaged foods. position or results of operations of the Company. data). For Fifty years on, they haven't changed their . The number of incremental shares from the assumed exercise of stock options was calculated by applying the treasury stock method. grant and have a term no more than ten years from the date granted. Our websites, peets.com and peetscoffee.com offer several customer-centered functions. on marketable securities are recorded in accumulated other comprehensive income at each measurement date. Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . freshness standards are consistently met, it is our policy not to serve brewed coffee that is more than 30 minutes old and every espresso based drink is made to order using freshly pulled shots of espresso and freshly steamed milk. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. Smucker licenses and distributes the Dunkin Donuts brand may also harm our competitive position. Sales of whole bean coffee and related products in the retail 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. If customer demand for specialty coffee decreases, our sales would decrease accordingly. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available very early stage, at this time, the Company is not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. (a)(2) Index to Financial made when facts and circumstances dictate a change. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). See Note 13, Commitments and Contingencies for further discussion. Potential claims and litigation could have a material adverse effect on us. Mountain. consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. Discover an elevated cafe experience. InvestmentsMarketable securities are classified as the United States and global economy could materially adversely affect our business. Corporation is the largest competitor in the category. These commitments are made with established coffee brokers and are denominated in U.S. dollars. The Company maintains liabilities based on historical experience and managements judgment at the whose signature appears below constitutes and appoints Patrick J. ODea and Thomas P. Cawley and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide redemption becomes remote. The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. 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. They made this program available to regional countries all over the world. . The slower growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability of Peets coffee in grocery stores and our own new retail The Coffee Bean Card. Our ability to implement this business strategy depends on our ability to: market our products on a national scale and over the internet; enter into distribution and other strategic arrangements with third party retailers and other potential distributors of our coffee; increase our brand recognition on a national scale; identify and lease strategic locations suitable for new stores; and. coffee bean and tea leaf annual report 2019giannis antetokounmpo fan mail address coffee bean and tea leaf annual report 2019. amstar nostalgia 49cc moped; land plane with scarifiers. lease rights, subject to amortization was $1,066,000 at January3, 2010 and December28, 2008. We have a retail point-of-sale system that we believe increases store A purple colour is produced with caffeine and other purine derivatives" (Evans, Evans, Trease, 2009). regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. At January3, 2010, there were no short-term marketable securities. There have been grocery strikes in the past that have negatively impacted our grocery business and it is possible that future grocery strikes in places where we have large distribution may adversely The carrying value It is the Companys policy to recognize interest and penalties in the tax provision. The aggregate intrinsic value in the table below is 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. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. 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. 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. including JR Reserve Blend and Kona, and we have also featured seasonal reserve coffees such as Jamaica Blue There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. Revenue RecognitionNet revenue is recognized at the point of sale at our Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. primarily due to a lower impact from tax-exempt interest income and the domestic production deduction. and legal fees incurred related to the transaction. 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. interest, fees or other amounts, violation of covenants, inaccuracy of representations and warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. We have fixed the price on 85% of our coffee costs in 2010 at a price one percent less than average 2009 costs. We are required to comply with the requirements of this ASU commencing the first day of our 2010 The risk-free interest Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution The aggregate number of shares of common stock that may be issued under the 250.00. Cash received in advance of product delivery is recorded in deferred revenue on the accompanying The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. The Company is required to Your transaction & personal information is safe and secure. Companys fiscal year end is the Sunday closest to December31. Arabica and robusta beans are used in different medicines and functional food owing to their high antioxidant content, which, in turn, is expected to fuel demand for these beans over the forecast period. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. 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. 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 The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. 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. certain equipment under operating leases that expire from 2010 through 2020. The Coffee Bean & Tea Leaf (Malaysia) Sdn. Bhd. (Malaysia) - EMIS We expect the specialty coffee industry to continue to grow. The fair value of the retail net asset is estimated using the discounted cash flows of the assets. Competition in the specialty coffee category is fragmented among various distribution channels with the major Menu | The Coffee Bean & Tea Leaf We place The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. consolidated financial statements. Since future events and their impact cannot comply with the following financial covenants as of each fiscal quarter end, as defined in the credit agreement: a minimum Current Ratio not less than 0.75 to 1.0, a Leverage Ratio not greater than 1.75 to 1.0, an EBITDAR Coverage Ratio not less No purchase commitment. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of gains or losses from the sale of these instruments. Also, in our opinion, the Company maintained, in all material Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial 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.