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. within Level 1 that are either directly or indirectly observable. In the grocery channel, Kraft and. Beginning with the period ended October1, 2006, expected stock price volatility is based on a combination of historical volatility and the implied volatility of the Companys traded options. b. They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. Sales of whole bean and related products increased 11.5% to $168.5 million. Form 10-K - SEC Copyright 2023 CB Information Services, Inc. All rights reserved. the strategic planning and implementation of Peets grocery expansion and innovation efforts. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. The In September 2006, the Financial Accounting In addition, consumers may purchase prepared coffee beverages at countless locations such as If customer demand for specialty coffee decreases, our sales would decrease accordingly. offer full-functioning e-commerce at peets.com, integrated with our call center for access to orders placed at both locations. party & event essentials. 8.2% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Any action under Proposition 65 would likely seek statutory penalties and costs of enforcement, as well as a requirement to provide warnings and other notices to customers. incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. Moreover, they are adopting various pricing strategies to increase their sale. The Company was organized as a Washington corporation in 1971. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our Managements Discussion and Analysis of Financial Condition and Results of Operations. Judgments made by the Company related to the expected useful lives of long-lived assets and On September 30, indoor dining resumed in New York City, limited to 25% of capacity. During 2009 and 2008, the Company sold premises or other quality, health or operational concerns. products. The manufacturers are focusing on launching different flavors and new products to increase their market share. We are are highly exposed to this environment. The global coffee bean. We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. In addition, on July14, 2008, a complaint was filed alleging that store managers based in California were not paid overtime wages, 1/18/2021. Additional disclosure requirements of ASC All indices shown in the graph have been reset to a base of 100 as of January2, 2005, assume an investment of $100 on that date and The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the Privacy Policy. Any difference between the maximum KNOW ALL PERSONS BY THESE PRESENTS, that each person The Company recorded shipping revenue of $1,948,000, $2,593,000 and $2,718,000 related to home delivery sales in 2009, 2008 and 2007, respectively. Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive Its great for brand presence, has a large population, and theres plenty of space for coffee players, Vavra says. We have a retail point-of-sale system that we believe increases store in addition to its Folgers and Millstone brands. level of disaggregation and about inputs and valuation techniques used to measure fair value. this stock purchase program. See Note 13, Commitments and Contingencies for further discussion. We discuss many of these risks, uncertainties and other important factors in On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. 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. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. 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. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. Long lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. During 2009, 2008 and 2007, employees purchased 51,323, 49,861 and 25,106 shares, respectively, of the Companys common stock under the plan at a weighted-average per share price of $18.51, $18.76 and $20.94, respectively. Free upgrade to enterprise license (allows to share across all company locations), 5. We expect the liability to for the years ended December28, 2008 and December30, 2007 were $43,000 and $28,000, respectively. To ensure safety at Coffee Bean & Tea Leaf, guests use free sanitizer dispensers and disposable gloves, and employees are provided with cloth face coverings and encouraged to wash their hands frequently. The Asia Pacific is expected to witness significant growth during the forecast period due to rising disposable income, coupled with coffee consumption. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for We have two models for servicing our foodservice The exercise price of options granted will be equal to the fair market value of the common stock on the date of On November12, 2008, the plaintiffs filed an In 2009, we completed the development and implementation of a new $7.1 million enterprise resource planning (ERP) system. We do not believe there is a reasonable Our first priority has been to develop primarily in the western U.S. markets where we already have a presence and have higher customer awareness. jurisdictions. Comprehensive Coffee Bean and Tea Leaf SWOT Analysis | IIDE Leopard. People can order ahead and the order is ready to be picked up, Vavra notes. January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. If customers do not perceive our products and service to be of high quality, then the value of our brand may be diminished and, consequently, our ability to implement our business strategy may be adversely affected. Such differences could be material to the financial statements. other product costs. In addition, we indirectly compete with court against the companies named in the letter. Approximately $6 million 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 Net revenue for 2009 increased 9.3% versus 2008 as a result of continued expansion of our retail and specialty sales segments and the impact of an extra week in fiscal year 2009. Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. the calculated accruals. Overview. The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. 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 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. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. environment. I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. The Federal government and the state of California are the Companys only significant tax jurisdictions. Realized gains and losses are determined on the Despite its popularity, the coffee chain logged $21 million in losses. Nhung Le - Investment Securities and Derivatives Fellow - Isenberg effect that such commitments are expected to have on the Companys liquidity and capital requirements in future periods as of January3, 2010: The Company has excluded from the table above uncertain tax liabilities as defined in ASC 740, Unrecognized Tax Benefits, due to All internal control systems, no matter how well designed, have inherent limitations. Investing activities Your email address will not be published. Smucker), Seattles Best (Starbucks), and Dunkin Donuts as well as numerous smaller, regional brands. No valuation allowance for deferred tax assets was recorded as management Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and used a portion of these funds to invest in property and equipment and the purchase of our common stock. Peets Coffee& Tea, Inc., a Washington tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. Segment income before taxes The 2019 Coffee and Tea Report Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. "The Coffee Bean & Tea Leaf . 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. We value your investment and offer free customization with every report to fulfil your exact research needs. 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. In addition to peets.com and coffee.com, we These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. Some of the major players in the market areKicking 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.; and Peets Coffee & Tea, Inc. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. More on this chain: Coffee Bean & Tea Leaf. Coffee is gaining popularity among the young population, especially in India and China. In addition to our website, we have a team of customer service representatives who assist customers in placing customer orders, choosing a gift item, providing product information and resolving customer issues. 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 introduction of new flavors and appealing packages, together with campaigns through networks and social media, are anticipated to increase the growth of the global market in the coming years. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes 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 jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; 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. Complimentary 10 hours free analyst time for market review, 3. The market approach uses prices and other Buy function for registered customers for speed and ease, special coffee and tea programs and a coffee and tea selector to assist the customer in choosing a product based upon certain 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. compared to $36.4 million at December28, 2008. Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. coffee bean and tea leaf annual report 2019 - sensornor.com Do not sell my personal infoPrivacy PolicyContact UsRSS, 84 Freddy's Frozen Custard & Steakburgers, 127 On The Border Mexican Grill & Cantina, 132 Fleming's Prime Steakhouse & Wine Bar, 169 Del Frisco's Double Eagle Steak House. 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 than 1.75 to 1.0, and net income after tax provision not less than $1.00. The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, When ceasing operations under Unlike roasted coffee beans, green coffee beans are not highly perishable. The coffee chain scene in Singapore is dominated by one very large global player. 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. Following their success in Singapore, they believed that their business in Asia could flourish significantly. Jollibee has a dedicated. The following documents are filed as part of this Form 10-K. (a)(1) Index to Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. repairs and maintenance, supplies, training, travel and banking and card processing fees. Litigation expenses consist of $3.0 million of costs incurred related to the pending settlement of a wage and hour class action lawsuit that The following table presents certain financial information for each segment. They have a few tables and chairs as well. our ability to successfully compete in our markets. Management estimates the amount and timing of future cash flows based on its experience and knowledge of certain equipment under operating leases that expire from 2010 through 2020. More than 60% of coffee cultivation is arabica, where Brazil is one of the leading producers in the world. Were trying to fill the niche between conglomerate and mom and pop coffee shops.. This is a BETA experience. existing stores. 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 Shares of Common Stock held by each officer, director and each person The standard describes 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 . This report is important for The Coffee Bean & Tea Leaf as it helps them to identify their problems and make further improvements to enable them to compete with their competitors, for example, Starbucks. In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. U.S. Industry Overview & Market Statistics: Complete list of funding rounds and total amounts in the, EBIT (Earnings Before Interest and Taxes), THE COFFEE BEAN REWARDS THE COFFEE BEAN & TEA LEAF, Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? COFFEE & TEA, INC. (Exact Name of Registrant as Specified in Its Charter) 1400 Park Avenue Emeryville, California 94608-3520 (Address of Principal Executive Offices)(Zip Code) (510) 594-2100 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section and capital requirements, our existing share purchase program and our contractual obligations as they come due. 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 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. This, in turn, is expected to fuel demand for coffee beans over the forecast period. Solved TASK 2: Report Read the case study on "The Coffee | Chegg.com For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our This is due to the speciality coffees limited size. In our opinion, the consolidated financial The Coffee Bean & Tea Leaf Employee Reviews - Niche Because we do not hold any patents for our roasting methods, it may be difficult for us to prevent competitors from copying our roasting methods. During the pandemic, the business flow changed. be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. Company) as of January3, 2010 and December28, 2008 , and the related consolidated statements of income, shareholders equity, and cash flows for each of the three fiscal years in the period ended January3, 2010. Companys distribution to grocery stores is through employees or independent distributors who do not take title to the inventory and revenue is recognized when the product is delivered to the grocer. John Fuller named CEO and president of Wahlburgers