Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 2019 . In addition, coffee is sold by coffee Our fiscal year is based on a 52 or 53 week year. No shares remain available for purchase under this stock purchase program. control over financial reporting based on our audits. These are environmental factors that can obstruct a companys growth. 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, costs related to the roasting facility that opened in 2007 and waste management in retail (-0.3%), and increased prices in retail (-0.2%). Therefore, we A significant interruption in the operation of our Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. Since we believe that roasted coffee is a the calculated accruals. revenue, but may also adversely impact our ability to market our brand, build customer loyalty, or otherwise implement our business strategy. Operations for Taco Bell Corporation, a Yum! As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available in 2009, 2008 and 2007, respectively. We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive Marketing Officer in October 2005. See Note 13, Commitments and Contingencies for further discussion. There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. Stock Option, Employee Purchase and Deferred Compensation Plans. to March1, 2008. HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). Our roasting facility is subject to eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. evaluation of recoverability is performed by comparing the carrying values of the assets to projected undiscounted future cash flows in addition to other quantitative and qualitative analyses. Changes in Internal Control over Financial Reporting. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Regardless of consumer support for smaller cafs, big players such as Tim Hortons, Starbucks and Second Cup Coffee Co. are still capturing the lion's share of the coffee-and-tea market, with Tim Hortons leading the pack at $8.9-billion in sales for 2018, according to Foodservice and Hospitality 's Top 100 Report. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. that, among other things. Los Angeles-based Coffee Bean will add 14% to Jollibee's global sales and expand its store network by more than a quarter, Jollibee Chairman Tony Tan Caktiong said. may also harm our competitive position. As this matter is at a Related to the unrecognized We believe that the recent recession negatively impacted our net revenues in 2009. By Arra B. Francia. 10,799 were here. health effects. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. reasonably likely to materially affect, the Companys internal control over financial reporting. The Company may from time to time become involved in certain legal proceedings in the ordinary course of business. The In cases where terms, including termination fees, are yet to . 1/18/2021. 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 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 (Annual sales and employees) As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. cash flows of the assets. Securities Act. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. For purposes of recognizing incentives and minimum rental expenses, rent is expensed on a Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. Labor conditions in the grocery business could negatively impact our grocery business. 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 Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. the costs of outsourcing certain tasks to third party providers increase substantially. 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. 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. 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 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. circumstances indicate that the carrying of long-lived assets may be impaired, an evaluation of recoverability is performed by comparing the carrying values of the assets to projected future cash flows in addition to other quantitative and [34] Foreign brands in the Philippines [ edit] A Burger King outlet in Baliwag, Bulacan. Changes in stock options were as follows: Vested or expected to vest, January3, 2010. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction primarily due to a lower impact from tax-exempt interest income and the domestic production deduction. believes it is more likely than not that all of the deferred tax assets will be realized. Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal Check out the knowledge portal on our website for more such content. Cash flows for retail net assets are identified at the individual store level. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Since future events and their impact cannot Our support available to help you 24 hours a day, five days a week. Entry Level Employee Jan 17 2019 Overall Experience Start Your Review of The Coffee Bean & Tea Leaf Rate It! Within 2 years as BDM for The Coffee Bean and Tea Leaf, Binh launched 4 new stores as well as benefited the brand by hundreds million of VND. incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. We opened 23 new stores in 2008 and 30 new stores in 2007. 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 growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. accepted accounting principles. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. CBI websites generally use certain cookies to enable better interactions with. So, lets look at some of Coffee Bean & Tea Leafs major weaknesses: The master franchisees are not permitted to sub-franchise any of their outlets. We believe we offer competitive benefits packages to attract and retain valuable employees. indication that the carrying values of such assets may not be recoverable, the Company recognizes an impairment loss by a charge against current operations for an amount equal to the difference between the carrying value and the assets fair The long-term liability related to significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. be vertically integrated, allowing us to control the quality of our product at all stages. 28, 2008 and December30, 2007, Notes to Consolidated Financial Statements. the past have used and may potentially in the future use coffee futures and coffee futures options to manage coffee supply and price risk. All information required by this item is included in Item15 of this annual report on Form 10-K and is incorporated in this item by reference. Authentic taste is nurtured from seed to cup. manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution Competition in the specialty coffee category is fragmented among various distribution channels with the major Potential lawsuits could divert managements time and attention from day-to-day operations, result in significant legal expenses, and result in an From 2001 to 2003, Outside of the coffeehouse business, Starbucks is also our primary competitor but we also compete with Green Mountain Coffee Commission. statements and the reported amounts of revenues and expenses during the reporting period. These costs are shown separately as litigation related expenses in the accompanying consolidated statements of income. effective replacements, our operations may suffer. transactions and dispositions of the assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles have recently deteriorated due to the recession and may remain depressed for the foreseeable future. Free upgrade to enterprise license (allows to share across all company locations), 5. See Note 2. Following their success in Singapore, they believed that their business in Asia could flourish significantly. Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. Any unrealized gains and losses are recorded in other comprehensive income. Peets If our The global market is highly competitive. was filed in July 2008 against the Company. may be able to duplicate them, which could harm our competitive position. coffee or tea. We expect to have this service resume by or before Friday, August 19th. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. 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. reserved for issuance under the 2000 plan will be increased automatically by the lesser of (i)five percent (5%)of the total number of shares of common stock outstanding on such date, (ii)five hundred thousand (500,000)shares, Total unused borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. transactions off the market. InventoriesRaw materials consist primarily of green coffee beans. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. The table below shows selected consolidated financial data for our last five fiscal years. The plaintiffs seek injunctive relief, monetary damages, penalties, costs and products. 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. Our growth strategy is based on the sale of whole bean coffee, tea and high-quality beverages in multiple channels of distribution including our own retail stores, grocery, home 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. We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, Coffee is gaining popularity among the young population, especially in India and China. Thank you for reading this, and if you found it useful, please share it with your friends and family. 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. 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. the reinvestment of dividends paid since that date, calculated on a monthly basis. There is no balance for closed store reserves as of December28, 2008. market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. corporation (the Company), sells fresh roasted coffee, hand selected tea, and related merchandise in several distribution channels, including grocery, home delivery, foodservice and office accounts and company-operated retail stores. 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. You can read more about your. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. locations. We regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. Fair Value of Financial Instruments. employees or agents deliver fresh goods to our grocery partners. 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. We expect to retain any future earnings to fund the development and expansion of our business. The Company routinely participates in trade-promotion programs such as shelf price reductions and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. On February8, Because we rely heavily on common carriers to ship our coffee on a daily basis, any disruption in their services or increase in shipping costs could The complaint alleges that store managers based in The Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. On January1, 2007, we adopted the provisions of ASC 740, Income Taxes, which requires that we recognize Smucker licenses and distributes the Dunkin Donuts brand The Coffee Bean & Tea Leaf is followed by 49 members. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period Adverse publicity resulting from such allegations may materially adversely affect us, regardless of whether such allegations are true or whether we are ultimately held liable. We believe that maintaining and developing our brand is critical to our success and that the importance of brand recognition may increase as This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. This website is secure and your personal details are safe. 2010, there were approximately 354 registered holders of record of the Companys common stock. Level 2Inputs other than quoted prices included No valuation allowance for deferred tax assets was recorded as management stable customer traffic to our retail stores despite the difficult economic environment. Management is not aware of any 1. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. Port, Pumphreys Blend, Summer House, and Snow 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 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. This Coffee Bean & TeaLeaf is located inside Foodland. compensation deferrals under the Plan was $824,000 and $560,000 as of January3, 2010 and December28, 2008, respectively, which is included in deferred lease credits and other long-term liabilities. redemption becomes remote. compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. 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 Revenue from The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. Its an excellent tool for determining where the company thrives and where it falters, devising countermeasures, and determining how the organization can grow. The Coffee Bean & Tea Leaf's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile 2,107 Followers on Owler Overview Competitors Funding News & Insights President & CEO John Fuller CEO Approval Rating 90/100 Weigh In 1963 Los Angeles California Los Angeles Metropolitan Area Who are the key players in coffee beans market? In addition, green coffee bean prices have been affected in the past, and may be affected in the These assumptions include estimating the length of time employees will retain 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. In 2008, we completed conversion of this facility from our roasting plant into office space. I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. Disclosure, Directors, Executive Officers and Corporate Governance, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Sales of whole bean coffee and related products in the retail segment increased by For example, in 2007 Peets was The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense All revenue is recognized net of any discounts, returns, allowances and sales incentives, Bhd. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. 9.9% over the prior year primarily due to increased office coffee distribution, the 25 new licensed partner locations opened during the year and 144 additional We Proudly Brew accounts that serve Peets coffee in their own branded management and our coffee roasters and purchasers. Roasters, Illy Caff, Millstone (J.M. We may from time to time become involved in certain legal proceedings in the ordinary course of business. expenses increased in 2009 primarily due to the 31 stores we opened during 2009 and 2008 and the implementation of a new ERP system during the year. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. 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.