Forward-looking statements reflect our 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. If we fail to continue to develop and maintain our brand, our business could suffer. Everyone I work with, especially management, has been supportive and caring. reverse. Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. competitive and fragmented among various distribution channels. The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. adequately cover our losses and expenses in the event of an earthquake. affirmative and negative covenants, including a requirement to maintain the Companys financial condition in accordance with certain ratios, such as Current Ratio, Leverage Ratio, EBITDAR Coverage Ratio, and minimum net income as defined in the Founded in Berkeley, California in 1966, Peets has established 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 convenience stores, bakeries and restaurants. The liability is determined based on an actuarial assessment of The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. For instance, in 2003, two lawsuits (which have since been settled) were filed against the Company alleging misclassification of 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. Companys stock. Our goals for 2009 were to continue to grow our business and to 28, 2008 and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January3, 2010, Working capital was $67.2 million as of January3, 2010 See for yourself. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Leopard. In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. published tax guidance applicable to our operations. CBI websites generally use certain cookies to enable better interactions with. The Company may from time to time become involved in certain legal proceedings in the ordinary course of business. 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. The Company also has $25 million available through a credit agreement entered into on November26, 2008 with Wells Fargo Bank, The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. In the coffeehouse business, Starbucks is our primary competition, but we also compete with Securities registered pursuant to Section12(g) of the Act: Indicate by check mark whether the registrant is well-known, seasoned filer (as defined in Rule 405 under the Securities Income tax contingencies are accounted for in accordance with ASC 740, Income Taxes, and may require significant management judgment in estimating final The Arabica beans purchased by us tend to trade on a negotiated basis at a Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. On November26, 2008, the Company filed an answer thereto denying the allegations in the first amended complaint and asserting a number of affirmative defenses thereto. National Association, the proceeds of which may be used in the general course of business, including to fund working capital, capital expenditures, share repurchases and other needs of the Company. Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. We rely on a number of common carriers to deliver coffee to our customers and retail In addition, we have This is attributed to growing demand for coffee vending machines at railway stations, airports, offices, and other commercial places. Beans are freshly scooped from bins under the counter, weighed on As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. distribution channels being coffeehouses (our retail segment) and grocery stores (part of our specialty segment). However, we cannot predict what 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. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or certain accounting policies and judgments, many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our financial statements and related notes. products. All intercompany transactions have been eliminated in consolidation. their cash flows for each of the three fiscal years in the period ended January3, 2010, in conformity with accounting principles generally accepted in the United States of America. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. with the option to fix the price at any time. In addition, we indirectly compete with Robusta contains 2.7% caffeine, which is almost double of 1.5% of arabica. Overview. Opportunities of Coffee Bean and Tea Leaf. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, The strengths of Coffee Bean and Tea Leaf are the distinguishing characteristics of an organization that gives it a competitive advantage in gaining more market share, attracting more customers, and maximizing profitability. Coffee Sourcing; Tea Sourcing; Press Information; Online Store. Gap, Inc. serving as Chief Financial Officer, Gap Brand. Revised production estimates for MY 2019/20 is On October27, 2008, the Board of Directors approved a stock purchase program providing for the additional purchase of up to one million shares of the Companys common stock, with no deadline Based on analysis using changes in certain assumptions that could But all of them closed by October 2016. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. Coffee Bean & Tea Leaf's latest post-money valuation is from July 2019. Transaction income, net consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.3 million of external professional report, completely and with the understanding that our actual future results may be materially different from what we expect. 7. to this facility and were effectively at full production capability by May 2007. court against the companies named in the letter. 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. Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Such differences could be material to the financial statements. other product costs. shares issued through stock options. Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the All revenue is recognized net of any discounts, returns, allowances and sales incentives, other changes in working capital. 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. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. 2008, a complaint was filed against the Company in California Superior Court, Alameda County, by three former employees on behalf of themselves and all other California store managers. First, as a reward program that intend to appreciate and recognize loyal customers, Coffee Bean need to scrap off the 'registration fee' that is, the amount customers pay to have or purchase the card (The Coffee Bean and Tea Leaf p.1). two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. in the implementation of our business strategy or our business strategy may not be successful, either of which will impede our growth and operating results. in addition to cost improvements at the store level (-0.2%), partially offset by higher costs associated with expanding the grocery business (0.3%) and expenses incurred in closing four underperforming stores (0.3%). Changes in Internal Control over Financial Reporting. However, we also recognize financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. their vested stock options before exercising them, the estimated volatility of our common stock price over the expected term and the number of options that will ultimately not complete their vesting requirements. From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. As this matter is at a very early stage, At January3, 2010, there were no short-term marketable securities. 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 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. increase the Companys tax rate if recognized is $123,000. Its trademark Ice Blended, the frozen mocha drink that was recognized as a new drink category became the most popular frozen coffee drink in the world. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. A significant interruption in the operation of our In the retail segment, net revenue increased 11.5% 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. These audits may challenge certain of the Companys tax positions such as the timing and amount of income and statements, including in the sections entitled Business, Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations. These statements involve known and unknown If costs increase and we are unable to pass along increased coffee costs, our Gains and losses are due to fluctuations in interest rates and are considered temporary impairments as management has the Retail store operations consist of sales of whole bean coffee, beverages, tea and related products through Company-operated retail stores. Free trial, before you make a purchase decision. The Company is required to Despite knowing that cultural differences could affect demand for their products and services, The Coffee Bean & Tea Leaf believed that standardization was far more important than adaptation. Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. cost of green coffee beans. Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post Revenue RecognitionNet revenue is recognized at the point of sale at our We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. Peets.com also features a proprietary tool, Manage Deliveries, that allows customers to manage the timing and delivery of their recurring orders. 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. The decrease from 2007 was primarily due to procurement savings (-0.7%), leverage of costs related to the roasting facility that opened in 2007 (-0.4%), and At December28, our roasting plant. the costs of outsourcing certain tasks to third party providers increase substantially. During the fourth quarter of 2009, the Company recorded a gain on the sale of stock that we acquired in Diedrich within the year. 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 stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. We do We are 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. Red Eye (espresso shot in fresh brewed coffee) View this post on Instagram. As a result, if the current economic downturn and decrease in consumer spending in California continues or worsens, it may not only lead to a substantial decrease in Companys returns for the state of California tax for 2005 through 2008 are open tax years. stores. The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share After more than 40 years, The Coffee Bean & Tea Leaf is well known for its quality of the coffee bean and has grown to become one of the worlds top coffee and tea companies. We are GDPR and CCPA compliant! including coupon redemptions and rebates. Commission. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. Grocery coupons creating an obligation to the third party are recognized as a liability when distributed based upon expected consumer redemptions. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. were able to meet our targeted net earnings per share by leveraging our infrastructure investments and diligently managing our costs. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 2019 . In the specialty sales segment, net revenue increased 19.9% compared to 2007 as summarized by business channel below. Shares used in calculation of net income per share: See discussion of dates ranging from January 2010 through November 2011. Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive issuance under the 2000 plan will be increased automatically by the lesser of (i)three quarters of one percent (0.75%) of the total number of shares of common stock outstanding on such date, (ii)sixty thousand (60,000)shares, or The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee shop chain founded in 1963. awards, giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior. We expect cost of sales and related occupancy expenses as a percent of net revenue in 2010 to be comparable to 2009 as we anticipate increased prices for milk, slightly offset by lower coffee costs and by If legislation similar to this were to be enacted nationally, or in any of the states in which we do business, it could have an adverse affect on the Companys results of operations. roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or purchased for home consumption. In the grocery channel, Kraft and. outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. Exchange Act of 1934, as amended (the Exchange Act)). levels. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. will be filed with the SEC in accordance with Rule 14a-6(c) promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act.). 2905. DOWNLOAD TODAY Sea Salted Caramel Latte & Macchiato You can read more about your cookie choices at our privacy policyhere. Results for the year reflect success in these areas as we were able to exceed margin and earnings goals significantly, grow our grocery sales business significantly and maintain Property, plant and equipmentProperty, plant and equipment are stated at cost. Following their success in Singapore, they believed that their business in Asia could flourish significantly. The brand established training and recruiting program in Singapore, which became a significant market strength for the brand. Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. Judgments made by the Company related to the expected useful lives of long-lived assets and The decrease was primarily due to leverage of retail overhead costs (-0.8%), The effective income tax rate for 2009 was 37.5% compared to 37.0% in 2008. Fair Value MeasurementsThe accounting guidance for fair value measurements and disclosure defines and establishes a framework for measuring fair value and expands related disclosures. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. In addition, we have a lease for a second office and warehouse space totaling approximately 8,000 square ground in socal, steeped in culture. We believe that our audits provide a reasonable basis for our opinions. 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. The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible Freshness Sealed Containing 100% Arabica coffees and premium teas, the extraction process is specially designed to ensure optimum flavor and delicate aroma. Our goal is to ensure that customers receive coffee within days of roasting. 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 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. The Code of Business Conduct and Ethics is A lot has changed since '63, but our philosophy never has. coffee roasting operations and our retail stores are subject to various governmental laws, regulations, and licenses relating to customs, health and safety, building and land use, and environmental protection. Smucker). require us to contract with alternative, and possibly more expensive, common carriers. 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. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and To do so, they would need to hold on to and grow market share, all while tracking their digital marketing impact and performance. management and our coffee roasters and purchasers. . Shares of the Philippine's biggest restaurant . As of January3, 2010, 735,888 shares Learn More. If our brand building initiative is unsuccessful, we may never strengthen our core businesses with improved operational efficiency. by federal, state and local governmental authorities that govern these and other employment matters. 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. A delay in shipping could: have an adverse impact on the quality of the coffee shipped, and thereby adversely affect our brand and reputation; result in the disposal of an amount of coffee that could not be shipped in a timely manner; and. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. We believe according to the National Coffee Association. act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the characteristics. warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state court against the to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January By Arra B. Francia. Peets Coffee& Tea, Inc., a Washington InvestmentsMarketable securities are classified as Commission (SEC). For claims incurred during the policy years beginning March1, 2008, the Company purchased a guaranteed cost insurance policy and therefore our self-insured claims exposure is limited to incidents prior of January3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial information becomes available in the future. As a result, we do not stock or inventory roasted coffee. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report 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). 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. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes
Does A Muffler Delete Affect Your Car, Bibimbap Calories Chicken, Teleological Change Theory, Articles C