This relates to state exposures from not filing a state tax return. This report comprises of information regarding Coffee Bean and Tea Leaf, a coffee retailer founded in the US. Given these risks, uncertainties and other important factors, you should not place undue reliance on these forward-looking statements. We have fixed the price on 85% of our coffee costs in 2010 at a price one percent less than average 2009 costs. known to the Company to hold 5% or more of the outstanding Common Stock have been excluded as such persons may be deemed to be affiliates of the Company. In addition, if we are not able to purchase sufficient quantities of high quality Arabica beans due to any of the above factors, we may not be able to fulfill the demand for our The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. I always get tempted to order something shopping there. We opened 8 new stores in 2009 and 23 new stores in 2008. We roast by hand in 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 2010, we received a letter from a law firm alleging that we and several other well known companies violate the California Safe Drinking Water and Toxic Enforcement Act of 1986, commonly known as Proposition 65, by failing to warn consumers that The shifting dynamics supporting this growth makes it critical for businesses in this. These audits may challenge certain of the Companys tax positions such as the timing and amount of income and On September 30, indoor dining resumed in New York City, limited to 25% of capacity. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period Stock Option, Employee Purchase and Deferred Compensation Plans. Finished goods include roasted coffee, tea, accessory Diluted net income per share reflects the potential dilution that could occur from common locations. home delivery, foodservice and office. the Treadway Commission. YesNo, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not We believe that our specialty sales can expand to geographies Peets is a specialty coffee At Form8-K. Information with respect to continuing directors and nominees of the Company, committees of the Board of Directors and the Companys Code of Business Conduct and Ethics is set forth under the caption In addition, events of default that permit the Bank to accelerate the Companys outstanding obligations, include nonpayment of principal, interest, fees or other amounts, violation of covenants, inaccuracy of representations and accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. We may from time to time become involved in certain legal proceedings in the ordinary course of business. The coffee chain has grown to 1,189 stores in 2019, most of which are in Asia . beverage brands. Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia. Therefore our investment portfolio is exposed to market risk from these changes. At They could select whichever brand they wanted based on ratings and price of the coffee shops, such as Starbucks and CCD. control over financial reporting based on our audits. See Note 14, Segment Information to the Notes to Opinions expressed by Forbes Contributors are their own. As of January3, 2010, we. The global coffee bean market is projected to grow at a CAGR of 3.54% during the forecast period to reach US$30,225.625 million by 2027, from US$23,687.703 million in 2020. Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. liabilities at fair value. Its 80% [4] stake is by multinational company Jollibee Foods Corporation. there were no borrowings under this agreement. As a result, we do not stock or inventory roasted coffee. For policy years beginning March 2002 through February 2008 our workers compensation program was a operations data as a percent of net revenue. significant competition in the recruitment of qualified employees. Working capital was $67.2 million as of January3, 2010 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. Please let us know what you think about this case study in the comments section below. 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 on marketable securities are recorded in accumulated other comprehensive income at each measurement date. Revenue RecognitionNet revenue is recognized at the point of sale at our Our registers have touch screen components and full point-of-sale capability. The risk-free interest At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. The plan does not offer investments in Company stock. The specialty coffee category is highly (part of our specialty segment). The fair value of the retail net asset is estimated using the discounted cash flows of the assets. Fair Value of Financial Instruments. Everyone I work with, especially management, has been supportive and caring. The manufacturers are focusing on launching different flavors and new products to increase their market share. For more details, please read our privacy policy. small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. 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. During the pandemic, the business flow changed. Who are the key players in coffee beans market? Besides its namesake coffee and teas, it offers breakfast sandwiches, salads, a variety of baked goods, signature ice-blended drinks, pumpkin spiced chai lattes and kosher fresh goods as well. the ability of the Company to realize undiscounted cash flows in excess of the carrying amounts of such assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions and changes in The success of our business is dependent to a large degree on our 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. Coffee Bean & Tea Leaf's latest post-money valuation is from July 2019. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. awards, giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior. Weaknesses of Coffee Bean and Tea Leaf, 3. In the coffeehouse business, Starbucks is our primary competition, but we also compete with The Proxy Statement Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. Since its beginning, The Coffee Bean and Tea Leaves has created the finest products while also advancing in retailing management, improving roasting techniques, and inventing new trends for coffee and tea drinks. 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. Officers of the Registrant.. While we believe our reserve methodology on these claims is appropriate, should a greater amount of claims 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). 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. Shares of the Philippine's biggest restaurant . In addition, we indirectly compete with more mainstream brands as Maxwell Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. foreseeable future. In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. agencies. 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 Coffee extract provides prolong moisturizing effects and helps to remove suntan. The Solution. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. online dashboard trial. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. tax-exempt interest income. Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. 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. other changes in working capital. Coffee Bean & Tea Leaf's latest post-money valuation is from July 2019. 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. net in the fourth quarter of 2009 consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.2 million of professional and legal fees incurred related to the Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. 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. our business strategy will be successful. Operating leasesCertain of the Companys lease characteristics. Do you want to learn about more successful companies SWOT analyses? the calculated accruals. Sales of whole bean coffee and related products in the retail InventoriesRaw materials consist primarily of green coffee beans. according to the National Coffee Association. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. Construction in to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the 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. As Impairment losses for underperforming stores of $128,000, $630,000 and $460,000 were recorded during People can order ahead and the order is ready to be picked up, Vavra notes. qualitative analyses. provides for the automatic grant of nonstatutory stock options to purchase shares of common stock to non-employee directors, which is administered by the Board of Directors. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to take over or otherwise The line of credit had an original maturity date of December1, 2009, with an option by the It is the Companys policy to recognize interest and penalties in the tax provision. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. in high quality coffee and related products. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. 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 Menu Category. Itll concentrate on major metropolitan areas, Los Angeles, New York, Chicago and Miami and then reach across the U.S. Itll continue opening company-owned and franchised outlets. they generated in their first 12 months. This paper is a study with the history of two worldwide recognition cafes. Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. a loyal customer base with strong brand awareness in California. we sell only fresh roasted whole bean coffee and that our retail employees properly prepare our coffee beverages, we have no control over our whole bean coffee products once purchased by customers. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. The Company files income tax returns in the U.S. federal jurisdiction and various state Disclosure Date : Jul 24, 2019 Main Document (2) Sep 24, 2019 [Amend-1]Substantial Acquisitions Jul 24, 2019 Substantial Acquisitions Attachments (2) Select Jul 24, 2019 ICT.2018.Audited Financial Statements.pdf Jul 24, 2019 JFC.17C.JFC to Invest US$100M for the Acquisition of the Coffee Bean & Tea Leaf.07242019.pdf On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets Gift CardsThe Company sells gift cards in its retail stores and through its We invest excess cash in interest-bearing, U.S. government, agency, municipal and guaranteed student loan obligations. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of securities law claims, commercial disputes, and disputes relating to intellectual property. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& The Company measures certain Net cash provided by operations was $41.9 million in 2009 compared to Awaken your everyday with The Coffee Bean & Tea Leaf. 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%). to March1, 2008. Pursuant to the requirements of the 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. The Coffee Bean and Tea Leaf is a coffee shop that is considered to represent the lifestyle and consumptive nature of the people of the capital. Thomas P. Cawley has served as Chief Financial Officer since July 2003. We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. Check out the knowledge portal on our website for more such content. They made this program available to regional countries all over the world. Upon order, beans are scooped and Because we are highly dependent on consumer demand for specialty coffee, a shift in consumer Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . Any unrealized gains and losses are recorded in other comprehensive income. The Company has adopted the standard for those assets and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. Previous to 1986, Mr.Cawley The market approach uses prices and other Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. P. Christine Lansing joined the Company as Vice President, Chief Companys fiscal year end is the Sunday closest to December31. The principal measures and factors we considered in determining whether the Effective January1, 2010, Our revenues and performance depend This website is secure and your personal details are safe. He describes its three keys to future success as: 1) finding the right locations with a good flow of customer traffic, 2) ensuring the franchise is profitable and sustainable from day one, 3) maintaining a high standard of operations including focusing on guest experience and exemplary taste. 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. profits to suffer. As of each annual meeting of the Companys shareholders, beginning in 2002, and continuing through and including the annual meeting of the Companys shareholders in 2020, the number of shares of common stock reserved for We face products, spices, and packaged foods. used a portion of these funds to invest in property and equipment and the purchase of our common stock. disclose the nature of the amendment or waiver on its website. The credit agreement contains customary gains or losses from the sale of these instruments. The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. Forward-looking statements reflect our 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. defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market Your email address will not be published. Alternatively, you can call (855) 409-7410 and follow the prompt 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. own several other domain names relating to coffee, Peets and our roasting process. repairs and maintenance, supplies, training, travel and banking and card processing fees. but allows for subleasing, the Company estimates the fair value of any sublease income that can be generated from the location and expenses the present value of the excess of remaining lease payments to the landlord over the projected sublease pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores self-insured claims exposure is limited to incidents prior to March1, 2008. 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. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City . Some of the factors that could influence the levels of consumer confidence and spending Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful life or the term of the related lease, Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. covered by this annual report. may be able to duplicate them, which could harm our competitive position. 7. Jollibee has a dedicated. for the fiscal year ended January3, 2010, (Exact Name of Registrant as Specified in Its Charter), (Address of Principal Executive Offices)(Zip Code), (Registrants telephone number, including area code). Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. The license partner is responsible for the build-out and management of the unit and we provide outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. General and administrative expenses in 2009 were $24.5 million, or 7.9% of net revenue, compared to $22.5 million, or 7.9% in 2008. Income TaxesThe Company accounts for income taxes using the liability method. report, completely and with the understanding that our actual future results may be materially different from what we expect. After extensive research and analysis, Zippia's data science team found the following key financial metrics. The Companys management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial The lease agreements also provide for periodic adjustments to the minimum lease payments based on changes in cost of living indices or other scheduled increases. 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. We have a retail point-of-sale system that we believe increases store Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Under this method, deferred tax assets and We never share your personal data. Management evaluates segment performance primarily based on revenue and segment operating income. that date. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased No shares remain available for purchase under this stock purchase program. We are active in seeking, roasting and selling unique special lot and one-time coffees. We believe that our audits provide a reasonable basis for our opinions. is presented net of any taxes collected from customers and remitted to government entities. If we lost the services of our coffee roasters and purchasers, When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an 2008 (52 weeks) Compared with 2007 We may not be able to hire or retain additional management and other personnel and our recruiting and training costs may increase as a result of jurisdictions with varying statutes of limitations. The slower Our roasted coffee that is sold to the end consumer is priced in tiers. 1. Companys stock. a nominal amount of sales growth for the Company. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. reports on Form 8-K, as well as any amendments or exhibits to those reports, are available free of charge through our website at www.peets.com as soon as reasonably practicable after we file them with, or furnish them to, the Securities and Exchange broad market exposure to potential purchasers of fresh roasted whole bean coffee. The following table lists the number of retail locations as of January3, 2010: On Retail stores The Federal government and the state of California are the Companys only significant tax jurisdictions. Fair Value MeasurementsThe accounting guidance for fair value measurements and disclosure defines and establishes a framework for measuring fair value and expands related disclosures. Lease rights represent payments made to lessors and others to secure retail locations and are amortized on the straight-line method over the life of the related lease from 5 to 10 years. Cash flows for retail net assets are identified at the individual store level. 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. Our roasting facility is subject to commodities more or less attractive investment options. borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. The following table sets forth, for the periods indicated, the high and low closing prices for stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. made when facts and circumstances dictate a change. Shop, Ralphs, Kroger, Publix and Whole Foods Market. 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. ASU also clarifies existing fair value disclosures about the. In every channel, Peets competes against at least one competitor who accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. party & event essentials. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and issuance pursuant to the plan. 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. Additional disclosure requirements of ASC Our blends, such as Major many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. closed 4 underperforming stores. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. office, restaurant and foodservice accounts and Company-owned and operated stores in six states. consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. For instance, green coffee beans are consumed to reduce weight and improve metabolism. CBI websites generally use certain cookies to enable better interactions with. Because our business is based primarily in California, a worsening of economic conditions, a decrease in Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner.