increased prices in retail and grocery (-0.3%), partially offset by higher green coffee costs (0.8%). We invest in U.S. government, agency, municipal and guaranteed student loan obligations. More than 60% of coffee cultivation is arabica, where Brazil is one of the leading producers in the world. Adverse public or medical opinion about caffeine may harm our business. that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. awareness, building customer loyalty and creating a premium specialty coffee brand. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. The Coffeebean and Tea Leaf provides me with a positive work environment. 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 value. This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. headquarters are located in Emeryville, California. outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. Governmentmandatory healthcare requirements could adversely affect our profits. The Company was not required to measure any other significant non-financial assets and Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful life or the term of the related lease, In either case, our business and operations could be adversely affected. also have audited the Companys internal control over financial reporting as of January3, 2010, based on criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . Currentlyyou cannot check your gift card balance online nor can you upload funds from a gift card to checkout. Our roasted coffee that is sold to the end consumer is priced in tiers. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay 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 As a result, a major earthquake in the San Francisco Bay area could not only seriously disrupt our business, but may also lead to substantial losses. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Corporation is the largest competitor in the category. We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. Currently, the Company is not a party to any other legal proceedings that management The risk-free interest In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. Arabica was the largest segment, accounting for 61.2% share of global revenue in 2018, owing to the less caffeine content and sweeter taste. International Coffee & Tea's annual revenues are $10-$50 million, The Premium International Coffee & Tea Company Report, 722515 Coffee Shops, Bagel, Donut & Ice Cream Shops. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated In accordance with the aggregation criteria of ASC 280, these three operating segments have been aggregated into one reportable segment because, in the Companys judgment, the specialty operating segments Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. The former Coffee Bean & Tea Leaf CEO takes helm as chain plans expansion Lisa Jennings | May 28, 2020 Industry veteran John Fuller has been named CEO and president of Boston-based. 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. 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. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf We do not know whether we will be able to successfully implement our business strategy or whether restricted cash. Since future events and their impact cannot however may not be less than 85% of the fair market value of common stock at the grant date. 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. In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within The Companys federal income tax returns for the years 2002 through 2005 were effectively settled with the Internal Revenue Service. companies named in the letter. affecting consumer spending behavior. Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. 6. For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our The coffee trends have shifted to different time periods.. Therefore, extracts are blended with lip balms, moisturizers, and different face creams. It is the Companys policy to recognize interest and penalties in the tax provision. Changes in Internal Control over Financial Reporting. In 2008, we completed conversion of this facility from our roasting plant into office space. 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. We consider our roasting methods essential to Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, We requirement to maintain the Companys financial condition in accordance with certain ratios and thresholds, and events of default that permit the Bank to accelerate the Companys outstanding obligations, including nonpayment of principal, Revenue in USD million/billion and CAGR from 2019 to 2025, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Central & South America; Middle East & Africa, U.S.; Canada; Mexico; Germany; China; India; Brazil, Kicking 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.; Peets Coffee & Tea, Inc. Free report customization (equivalent up to 8 analysts working days) with purchase. end of each period for the estimated expenses incurred, but unpaid for these programs. amended complaint asserting an additional claim for penalties. It promises true goodness in every cup. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. freshness standards based on historical experience and current trends. In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . our roasting plant. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. 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. more mainstream brands as Maxwell House (Kraft) and Folgers (J.M. Our audit of internal control over financial reporting included obtaining an understanding of internal control over The We have filed additional applications for trademark protection in Indonesia and the Philippines. 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. December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December We invest excess cash in interest-bearing, U.S. government, agency, municipal and guaranteed student loan obligations. LOS ANGELES (September 14, 2021) - 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 help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new ready-to-drink coffee contains a substance that is allegedly known to cause cancer. The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible 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 . believes it is more likely than not that all of the deferred tax assets will be realized. For complete Top 500 data, including each chains sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomics analysis, growth forecast and more: Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage convenience stores, grocery retailing, restaurants and noncommercial foodservice through media, events, data products, advisory services, and trade shows. 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. covered by this annual report. We are 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. 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. specialty sales. 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. In the grocery channel, Kraft and. but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. The company was founded by 2 people, Mona and Herbert Hyman. Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and 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. From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. Potential claims and litigation could have a material adverse effect on us. The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. Scrubby Regular is close but not a perfect match on all letters. This will be followed by a business canvas model, a detailed study of nine essential elements that Caffeine Essay. levels. ASU also clarifies existing fair value disclosures about the. 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. Property, plant and equipmentProperty, plant and equipment are stated at cost. Effective December1, 2003, the Company While we believe our reserve methodology on these claims is appropriate, should a greater amount of claims Beans are freshly scooped from bins under the counter, weighed on In December 2006, we purchased approximately 460,000 square feet of land and a 138,000 On This report comprises of information regarding Coffee Bean and Tea Leaf, a coffee retailer founded in the US. 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. potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. This method is known as the murexide test. Depreciation and amortization The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. We are active in seeking, roasting and selling unique special lot and one-time coffees. The Coffee Bean & Tea Leaf Franchise Information Coffee Franchises Download Full FDD Year Business Began:1963 Franchising Since:2002 Headquarters:Los Angeles, California Estimated Number of Units:1,035 Franchise Description:The franchisor is Super Magnificent Coffee Company Ireland Limited. 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 In the foodservice and office business, we have a staff of sales and account managers who make sales calls to potential accounts and conduct quality audits at our existing accounts. The Company is required to products. Advertising costsAdvertising costs are expensed as incurred. 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 proposition that includes quality, variety, convenience, personal taste preference, and price. Additional disclosure requirements of ASC Amortization See Note 14, Segment Information to the Notes to By continuing to use this site you are consenting to these choices. Board of Directors and Shareholders of Peets Coffee& Tea, Inc.: We have audited the accompanying consolidated balance sheets of Peets Coffee& Tea, Inc. and subsidiaries (the These costs are shown separately as litigation related expenses in the consolidated statements of income. straight-line basis, and the Company records the difference between the recognized rental expense and amounts payable under the lease to deferred lease credits and other long-term liabilities, over the lease term, which may or may not coincide with Our access to high quality Arabica beans depends on our relationships with coffee brokers, exporters and growers, with whom we have built long-term relationships to ensure a steady supply of coffee beans. to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. 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 The Company Red Eye (espresso shot in fresh brewed coffee) View this post on Instagram. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. 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? Our Net revenue in the home delivery channel declined primarily due to trademark rights, we may have to litigate to protect our rights, in which case, we may incur significant expenses and divert significant attention from our business operations. The Coffee Bean & Tea Leaf | 2020 Top 500 Chains 1 McDonald's 2 Starbucks 3 Chick-fil-A 4 Taco Bell 5 Burger King 6 Subway 7 Wendy's 8 Dunkin' 9 Domino's 10 Panera Bread 11 Pizza Hut 12 Chipotle Mexican Grill 13 Sonic Drive-In 14 KFC 15 Olive Garden 16 Applebee's 17 Panda Express 18 Arby's 19 Popeyes Louisiana Kitchen 20 Little Caesars Privacy Policy. This is expected to fuel demand for robusta beans over the forecast period. 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 Also effective in 2001, the Company adopted the 2000 Non-Employee Director Plan that differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. Revised production estimates for MY 2019/20 is 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. We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive offered health care. There were no purchases made by us or any affiliated purchaser as defined in Rule The Committee also increased Mr.ODeas annual target bonus from 66% to 90% of his base salary for the 2010 fiscal year, and determined that the As this matter is at a Its primary goal is to gain popularity and recognition in the international market. The global coffee bean. each option grant and ESPP award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the following assumptions: Net Income per 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 and the other financial data included elsewhere in this report. We also enter into not-yet-priced commitments based on a fixed premium over the New York C market InventoriesRaw materials consist primarily of green coffee beans. 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. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully The aggregate intrinsic value in the table below is 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 Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. that, as a result of our reputation that has been built over 40 years, we have access to some of the highest quality coffee beans from the finest estates and growing regions around the world and we are occasionally presented with opportunities to Opportunities are areas where a companys efforts can be concentrated to improve results, sales, and, eventually, profit. Operating expensesOperating expenses consist of both retail store and specialty operating costs, such as employee labor The principal measures and factors we considered in determining whether the Forward-looking statements reflect our rd week, as summarized by business channel below. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets strengthen our core businesses with improved operational efficiency. Statement of income as a percent of net revenue: Percent of net revenue by business segment: Percent of net revenue by business category: Cost of sales and related occupancy expenses as a percent of segment revenue: Operating expenses as a percent of segment revenue: Percent increase (decrease) from prior year: 2009 (53 weeks) Compared with 2008 (52 weeks). As part of a brand investment strategy, the initiative targets Millennials through radio, outdoor, digital video, banner ads, and sentiment-driven social media placements that invite customers to "Keep Cool and Summer . Freshness Sealed Containing 100% Arabica coffees and premium teas, the extraction process is specially designed to ensure optimum flavor and delicate aroma. Hope. year. filer, or a smaller reporting company. The ASU also Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. 28, 2008 and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January3, 2010, The Company recognizes income from gift cards when the likelihood of the gift card. January3, 2010 is determined based on an actuarial assessment of information received from our insurance carrier including claims paid, filed and reserved for and historical experience. The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. gains or losses from the sale of these instruments. The majority of the Companys workers 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 Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased Based on our evaluation under 2. CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY, Stock options exercised, including tax benefit, Stock sold in Employee Stock Purchase Program, Net unrealized gain on marketable securities, net of tax of $46, Stock purchased in accordance with share purchase program, Net unrealized loss on marketable securities, net of tax of $12, Net unrealized loss on marketable securities, net of tax of $23. Quote. significant competition in the recruitment of qualified employees. our retail locations within a range of $10.95 to $19.95 per pound. We roast by hand in On February8, whose signature appears below constitutes and appoints Patrick J. ODea and Thomas P. Cawley and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, The 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. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the 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. We believe that our specialty sales can expand to geographies Our ability to implement this business strategy depends on our ability to: market our products on a national scale and over the internet; enter into distribution and other strategic arrangements with third party retailers and other potential distributors of our coffee; increase our brand recognition on a national scale; identify and lease strategic locations suitable for new stores; and. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, 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 existing stores. home delivery, foodservice and office. 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 Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. Exchange Act of 1934, as amended (the Exchange Act)). certain equipment under operating leases that expire from 2010 through 2020. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal