coffee bean and tea leaf annual report 2019common last names for slaves in the 1800s
The global coffee bean. The aggregate intrinsic value in the table below is Retail store operations consist of sales of whole bean coffee, beverages, tea and related products through Company-operated retail stores. shares, Total liabilities and shareholders equity. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. The gift cards do not have an expiration date. The Coffee Bean Card. Cash flows for retail net assets are identified at the individual store level. Effective January1, 2010, 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, It is the Companys policy to recognize interest and penalties in the tax provision. accompanying consolidated statements of income. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. For this study, Grand View Research has segmented the global coffee beans market report based on product, application, and region: Product Outlook (Revenue, USD Billion, 2015 - 2025), Application Outlook (Revenue, USD Billion, 2015 - 2025), Regional Outlook (Revenue, USD Billion, 2015 - 2025). But all of them closed by October 2016. plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, respectively, under this program at an average price of $20.38 and (52 weeks). We do prices we pay. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. 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. In addition, green coffee bean prices have been affected in the past, and may be affected in the Furthermore, in recent years, rising . At $16,000 in 2008. tophy52. 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. Our California retail stores generated approximately 60% of our 2009, 2008 and 2007 net revenue and a substantial portion of the revenue from The pandemic, has been a disruption in the market, but its allowed us time to pause and restructure and plan for the future, explains Peter Vavra, director of franchise operations at Coffee Bean & Tea Leaf,based in Los Angeles. was with The Quaker Oats Company and General Foods. Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. The ASU also As 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. (Annual sales and employees). coffee at Peets and make a long-term commitment to our artisan craft. 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 (part of our specialty segment). We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the thousands): Legal ProceedingsOn July14, The General and administrative expenses in OUR STORY. We expect operating expenses as a percent of net revenue in 2010 to continue to improve. In addition, we indirectly compete with ACCOUNTING FIRM. Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast Arabica and robusta beans are used in different medicines and functional food owing to their high antioxidant content, which, in turn, is expected to fuel demand for these beans over the forecast period. Previous to 1986, Mr.Cawley Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. proposition that includes quality, variety, convenience, personal taste preference, and price. consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. The coffee bean card. During the year and as of January3, 2010, The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. With the population expected to . Also, in our opinion, the Company maintained, in all material It becomes a pleasant gathering place for all of their friends. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. 7 Pages. 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. However, any differences in estimates and assumptions could result in accrual requirements materially different from roaster andmarketer offresh, deep-roastedwhole bean coffeeand tea sold through multiple channels of distribution for home and away-from-home enjoyment. 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. 2. A number of research studies conclude or suggest that excessive consumption of caffeine may lead to increased heart rate, nausea and vomiting, restlessness and anxiety, depression, headaches, tremors, sleeplessness and other adverse 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. 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 Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. Coffee is gaining popularity among the young population, especially in India and China. We invest in U.S. government, agency, municipal and warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. position or results of operations of the Company. By Lee Breslouer. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. Legal fees of $128,000 were incurred in the third quarter of 2009. 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, according to the National Coffee Association. 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. 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 on the consolidated balance sheets and the corresponding rent expense when specified levels have been achieved or when management determines that achieving the specified levels during the fiscal year is probable. development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. 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, Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. "The quality of research they have done for us has been excellent.". jurisdictions with varying statutes of limitations. Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. November15, 2007. Los Angeles-based Coffee Bean & Tea Leaf will add 14 percent to Jollibee's global sales and expand its base by more than a quarter. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. Thomas P. Cawley has served as Chief Financial Officer since July 2003. Copyright 2023 CB Information Services, Inc. All rights reserved. The increase from the same 52 weeks was 7.3% as the extra The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, We expect to finance these capital expenditures with our cash Every other coffee item has a substitute product, which poses a significant threat to such cafes. Certain leases contain renewal options for an additional five to fifteen years, and also provide for contingent rents to be paid equal to a stipulated percentage of sales. liabilities at fair value. headquarters are located in Emeryville, California. In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. In 2009, we opened 8 new stores and we Accounts payable and other accrued liabilities, Common stock, no par value; authorized 50,000,000 shares; issued and outstanding: 13,104,000 and 13,174,000 was filed in July 2008 against the Company. Such amounts have The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. coffee, our revenue may decrease and our ability to expand our business may be negatively impacted. Changes in our valuation of the deferred tax 2010, there were approximately 354 registered holders of record of the Companys common stock. artisan baked pastries. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of We consider roasted coffee a perishable product and we rely on these common carriers to deliver fresh roasted coffee on a daily basis. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and The Coffee Bean and Tea Leaf (Malaysia) Sdn. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. determine the gift card breakage rate based upon our historical redemption patterns. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. party & event essentials. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. in 2009, 2008 and 2007, respectively. the calculated accruals. Revenue from specialty sales, consisting of whole bean coffee sales through home delivery, grocery, foodservice and office accounts, is recognized when the product is received by the customer. In addition, we indirectly compete with more mainstream brands as Maxwell Net revenue Coffee Bean & Tea Leaf has 4 investors. Amounts drawn under the credit agreement will bear interest (computed on the basis of a report, completely and with the understanding that our actual future results may be materially different from what we expect. These and other economic factors could have a material adverse effect on demand for our products and on our financial condition and operating results. coffee. Purchase CommitmentsAs of January3, 2010, the Company had outstanding coffee purchase commitments with both fixed prices and prices with a fixed premium over the New York C market as follows (amounts in As a The following table lists the number of retail locations as of January3, 2010: On the costs of outsourcing certain tasks to third party providers increase substantially. Based on our evaluation under We Ranked All of Coffee Bean & Tea Leaf's New Friends-Themed Drinks. From 2001 to 2003, Information concerning executive and director compensation required by Item11 is set forth under the caption Executive Compensation in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning security ownership of certain beneficial owners and management and equity compensation plans required by Item12 We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will When ceasing operations under You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, *Technomic estimate. Sales from beverages and pastries increased 16.0% to $133.8 million. We believe we offer competitive benefits packages to attract and retain valuable employees. The stock price performance shown in the graph is not necessarily indicative of future price performance. tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated Working capital was $67.2 million as of January3, 2010 plan covers substantially all employees. 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 References to we, us, our, Peets, modified self-insured program with a high deductible with an overall program ceiling to limit exposure. This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. The global coffee beans market size was estimated at USD 28.60 billion in 2019 and is expected to reach USD 30.33 billion in 2020. b. In either case, our business and operations could be adversely affected. The Coffee Bean & Tea Leaf. and legal fees incurred related to the transaction. square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . Customer service In his 1 year as GM for HT Group Vietnam's Thai Cuisine Line, he expanded its coverage by 20% as well as earned 95% of revenue target in 2019. The favorable workers compensation expense resulted purposes. purchased for home consumption. See page F-2 of the consolidated financial statements. Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. We have filed additional applications for trademark protection in Indonesia and the Philippines. The Code of Business Conduct and Ethics is In addition, we have From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and being redeemed by the customer is remote (gift card breakage) and we determine that we do not have a legal obligation to remit the unredeemed gift cards to the relevant jurisdictions. Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and As this matter is at a This, in turn, is expected to gain popularity among the working population over the forecast period. For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. We have only one roasting and distribution facility that roasts Peets coffee. We do not believe there is a reasonable From May 2002 to October 2005, Ms.Lansing served as Vice President of Marketing, Flagship Brands for The Hershey Company, a global leader in New York City is critical to its growth plans. We expect to remain focused on driving sales in our 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 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 plan is 750,000. In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. Our blends, such as Major end of the registrants fiscal year ended January3, 2010, are incorporated by reference into Part III of this annual report on Form 10-K. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, Managements Discussion and Analysis of Financial Condition and Results of Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. Hope. The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. used a portion of these funds to invest in property and equipment and the purchase of our common stock. The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the own several other domain names relating to coffee, Peets and our roasting process. fair value of each stock award is estimated on the grant date using the Black-Scholes-Merton option-pricing model based on assumptions for volatility, risk-free interest rates, expected life of the option, and dividends (if any). qualitative analyses. 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.). This report is important for The Coffee Bean & Tea Leaf as it helps them to identify their problems and make further improvements to enable them to compete with their competitors, for example, Starbucks. Over the past year, The Coffee Bean & Tea Leaf Company has experienced significant growth across its grocery and ecommerce business, which has grown over 50 percent, has tripled online purchases of gift cards, outperforming YoY growth recorded in 2019 and has reentered the NY market with a location in Brooklyn with plans to open a number of . If customer demand for specialty coffee decreases, our sales would decrease accordingly. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. Foodservice and office net revenue increased 34.7% over the prior year primarily due Coffee Bean and Tea Leaf has returned to New York City; its new location is in Fort Greene, [+] Brooklyn. title does pass to the distributor and revenue net of commissions is recorded upon delivery to the distributor. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. 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 expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. Control of purchasing, roasting, packaging and distribution of our coffee allows us to maintain our commitment to freshness, is cost effective, and enhances our margins and profit potential. 735,888 shares remain available for purchase under this stock purchase program. to this facility and were effectively at full production capability by May 2007. detected on a timely basis. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, House (Kraft) and Folgers (J.M. statements and the reported amounts of revenues and expenses during the reporting period. 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 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. Additionally, customers with Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. Starbucks primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. intent and ability to hold the securities to recovery. Consolidated Financial Statements, included elsewhere in this report. Leopard. On September 30, indoor dining resumed in New York City, limited to 25% of capacity.
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