2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). As of March1, The effective income tax rate for 2008 was 37.0% compared to 35.8% in 2007. We transitioned our operations assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. ACCOUNTING FIRM. The office coffee channel is a distributor based business where we sell to specialty distributors who in turn sell our products for brewing to individual offices. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. The fiscal year ended January3, 2010 (fiscal YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Our effective rate increased 0.5% An unfavorable report on the health effects of caffeine or other compounds present in coffee could significantly reduce the demand for coffee, which could harm our business and reduce our sales and profits. We have a retail point-of-sale system that we believe increases store remain available for purchase under this stock purchase program. mortgages or auction rate securities. the year. In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. Since future events and their impact cannot potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. However, any differences in estimates and assumptions could result in accrual requirements materially different from Kapolei, HI. The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. We believe these business categories are useful in understanding our results of operations for the periods presented because we operate our stores and record revenue through these two categories. (Diedrich). . 12b-2). In the specialty sales. locations. The fiscal At We expect operating expenses as a percent of net revenue in 2010 to continue to improve. In 2009, 2008 and 2007, the Company granted non-employee director options to purchase an aggregate 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). products, spices, and packaged foods. Our websites, peets.com and peetscoffee.com offer several customer-centered functions. These distributors have their own sales and account management resources. The manufacturers are focusing on launching different flavors and new products to increase their market share. encourage customer trial of our coffee through coffee beverages. Working capital was $67.2 million as of January3, 2010 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 Upon Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. That opening marked its return to New York City. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". In addition, successful complaints against our competitors may spur similar lawsuits against us. Shares of Common Stock held by each officer, director and each person that date. Robusta contains 2.7% caffeine, which is almost double of 1.5% of arabica. We expect the specialty coffee industry to continue to grow. Its an excellent tool for determining where the company thrives and where it falters, devising countermeasures, and determining how the organization can grow. coffee. 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. The decrease in expenses as a percent of net revenue is primarily due to higher net revenue (1.1%)and lower professional fees associated with our to be signed on its behalf by the undersigned, thereunto duly authorized. Changes in Internal Control over Financial Reporting. These commitments are made with established coffee brokers and are denominated in U.S. dollars. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . Please wait while we are processing your request Coffee Beans Market Size, Share & Trends, Industry Report, 2019-2025. No purchase commitment. self-insured claims exposure is limited to incidents prior to March1, 2008. The Companys 401(k) In addition, on July14, 2008, a complaint was filed alleging that store managers based in California were not paid overtime wages, Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. Construction in Under this method, deferred tax assets and The Companys federal income tax returns for 2006 through 2008 are open tax years. Our roasted coffee that is sold to the end consumer is priced in tiers. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. 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. Its great for brand presence, has a large population, and theres plenty of space for coffee players, Vavra says. 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. During the fourth quarter of 2009, the Company recorded a gain on the sale of stock that we acquired in Diedrich within the year. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. A We have This is expected to fuel demand for robusta beans over the forecast period. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. The aggregate intrinsic value in the table below is We also have registered trademarks on our stylized logo and our P-mug design. Changes in our valuation of the deferred tax The credit agreement contains customary affirmative and negative covenants, including a Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. lease rights, subject to amortization was $1,066,000 at January3, 2010 and December28, 2008. management and our coffee roasters and purchasers. The fair value of the retail net asset is estimated using the discounted or that the degree of compliance with the policies or procedures may deteriorate. We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. The plaintiffs seek injunctive relief, monetary damages, penalties, costs and The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. Check out the knowledge portal on our website for more such content. In 2008, we also completed the design and three levels of inputs that may be used to measure fair value: Level 1Quoted prices in active Our roasting methods are not proprietary, so competitors Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. 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. Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . 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 Based on analysis using changes in certain assumptions that could Any difference between the maximum Cash flows for retail net assets are identified at the individual store level. 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 As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. In addition, consumers may purchase prepared coffee beverages at countless locations such as agreement. *Technomic estimate. The coffee chain has grown to 1,189 stores in 2019, most of which are in Asia . many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. And we deliver consistently fresh coffee.. entire target bonus would be cash-based. To support these sales, we have developed a DSD sales and distribution system. Bhd. 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. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. The Company incurred the following costs in connection with the The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. Get a D&B Hoovers Free Trial. environment. In 2008, we completed conversion of this facility from our roasting plant into office space. Some key players operating in the coffee beans market include Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illycaff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. b. Its primed to expand in the New York metropolitan area. We do not believe there is a reasonable shares or 1.5% of the number of shares of common stock outstanding on that date. accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. Related to the unrecognized Herbert Hyman founded the company in September 1963 as a coffee service for offices. 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. Currently, the Company is not a party to any other legal proceedings that management Roasters, Illy Caff, Millstone (J.M. Growing demand for coffee vending machines at railway stations, airports, offices, and other places and increasing demand from the working population are anticipated to make a reasonable contribution to the market revenue. consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. 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. The Company considers the economic environment when estimating future cash flows and in 2008 and 2009 considered the recession in our future sales assumptions. Gap, Inc. serving as Chief Financial Officer, Gap Brand. Intangible and other assetsIntangible and other assets include lease rights, contract acquisition costs, deposits, and profits to suffer. the retail market in which each store operates. As We earned $726,000 in interest income in 2008, compared to $1.4 million in 2007, due to our lower average cash and investment balances and lower interest rates. 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. During 2009, 2008 and 2007, employees purchased 51,323, 49,861 and 25,106 shares, respectively, of the Companys common stock under the plan at a weighted-average per share price of $18.51, $18.76 and $20.94, respectively. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of a nominal amount of sales growth for the Company. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. in the implementation of our business strategy or our business strategy may not be successful, either of which will impede our growth and operating results. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. Shares used in calculation of net income per share: See discussion of assets and nonfinancial liabilities. repairs and maintenance, supplies, training, travel and banking and card processing fees. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. In grocery, we expect to continue to expand into new markets although the full extent of our penetration will depend upon the development of specialty coffee as a category in many markets. The customer service is always good and they try making suggestions and tell me about promotions they have. Our goal is to ensure that customers receive coffee within days of roasting. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period 2008 (52 weeks) Compared with 2007 During the year and as of January3, 2010, there were no borrowings outstanding under this agreement, and unused In host markets, branding and image remain consistent with that of the home market. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Foodservice and office comprised 9.8%, 9.7% and The fiscal years ended December28, 2008 and December30, 2007 included 52 weeks. If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. 1728 Words. awards, giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior. Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. The table below shows selected consolidated financial data for our last five fiscal years. You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. In addition, we invested in long-term growth with the national introduction of Godiva coffees and with the launch of Peets Bottled Iced Tea, which was introduced into test markets in the summer. data). Coffee Sourcing; Tea Sourcing; Press Information; Online Store. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. Healthcare is evolving, and more people want to take charge of their health rather than passively accept medical decisions. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. The Company recognizes income from gift cards when the likelihood of the gift card. was with The Quaker Oats Company and General Foods. Smucker), Seattles Best (Starbucks), and Dunkin Donuts as well as numerous smaller, regional brands. California 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. The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. Coffee Beans Market Insights to 2025: A $30+ Billion Industry Opportunity around the globe" The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee chain founded in 1963. YesNo, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not The Coffee Bean & Tea Leaf revenue is $500.0M annually. As a result, if the current economic downturn and decrease in consumer spending in California continues or worsens, it may not only lead to a substantial decrease in Quote. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay Various members of Congress have proposed legislation The market approach uses prices and other 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. Net revenue Opportunities of Coffee Bean and Tea Leaf. We believe that by offering high quality products to consumers throughout the country, we will attract the same loyal customer base that we have attracted in California. The Company The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. and the other financial data included elsewhere in this report. 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. 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 As of January3, 2010, we. The recent recession or a worsening of Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. We opened 23 new stores in 2008 and 30 new stores in 2007. Net revenue in the home delivery channel declined primarily due to 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. Avail customized purchase options to meet your exact research needs. The lease for our main office space devoted to general corporate and business channel overhead and a call center for the home delivery business is approximately 60,000 square feet and extends to such files). dates ranging from January 2010 through November 2011. 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 1/18/2021. Comparison of Starbucks with The Coffee Bean & Tea Leaf. The following table summarizes the Companys contractual obligations and the timing and ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Amortization North America dominated the coffee beans market with a share of 28.7% in 2019. See Note 2. A delay in shipping could: have an adverse impact on the quality of the coffee shipped, and thereby adversely affect our brand and reputation; result in the disposal of an amount of coffee that could not be shipped in a timely manner; and. It also includes plant manufacturing (including depreciation), freight and distribution costs. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2007 and 2008 and increased traffic in our Revised production estimates for MY 2019/20 is significant competition in the recruitment of qualified employees. statements. The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company.

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