Impairment of Long-Lived AssetsWhen facts and The plan covers substantially all employees. Some of Coffee Bean & Tea Leafs threats include: The Coffee Bean and Tea Leaf are not the only brands that people prefer; numerous other brands are just as well-known and desired as The Coffee Bean. The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . employment position and sought damages, restitution, reclassification and attorneys fees and costs. our ability to successfully compete in our markets. Each store has a dedicated staff person at the bean counter to take orders and assist customers with questions on coffee origins and on home brewing. 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. We are subject to a variety of laws and regulations which govern such matters as minimum wages, overtime and other working conditions, various family leave mandates and a variety of other laws enacted, or rules and regulations promulgated, These costs are shown separately as litigation related expenses in the consolidated statements of income. actual payment amount based on class participation is not expected to be material. We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. Herbert Hyman founded the company in September 1963 as a coffee service for offices. Apr 26, 2010 at 16:03. Please fill out the form below for a free PDF report sample & The increase from the same 52 weeks was 7.3% as the extra $21.91, respectively. So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. channels. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. In addition, successful complaints against our competitors may spur similar lawsuits against us. We expect cost of sales and related occupancy expenses as a percent of net revenue in 2010 to be comparable to 2009 as we anticipate increased prices for milk, slightly offset by lower coffee costs and by as said in Typophile, where they also talk about The Coffee Bean logo. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our Alternatively, you can call (855) 409-7410 and follow the prompt ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. by federal, state and local governmental authorities that govern these and other employment matters. The global coffee beans market size was valued at USD 27.0 billion and is expected to expand at a CAGR of 6.7% from 2019 to 2025. 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 Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, 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. 'Th' comes from Veer's Bookman Swashes Italic AJF or BJF. Although we consider our packaging and store design to be essential to our brand identity, we have not applied to 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. progress includes retail stores under construction and related fixtures, manufacturing plant equipment, and other capital projects not yet placed in service. 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 Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, Jul 2020 - Dec 20206 months. anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.) training and operations oversight. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. The Coffee Bean & Tea Leaf. 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. was with The Quaker Oats Company and General Foods. 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. 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. Also effective in 2001, the Company adopted the 2000 Non-Employee Director Plan that Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. 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 Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. As a 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. Cost of sales and related occupancy expenses. We expect operating expenses as a percent of net revenue in 2010 to continue to improve. There is no balance for closed store reserves as of December28, 2008. The effective income tax rate for 2008 was 37.0% compared to 35.8% in 2007. If our stores. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. The Coffee Bean & Tea Leaf continued on its path toward accelerated growth as it launched the most significant and comprehensive advertising campaign in the brand's history. Herbert B. Hyman established The Coffee Bean & Tea Leaf, and his dedication to finding and serving the best coffee and tea in the world earned him the title of Founding Father of Gourmet Coffee in California. Information with respect to compliance with Section16(a) of the Exchange Act is set Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. We must understand Coffee Bean and Tea Leaf SWOT Analysis to better know the reasons for their continuous growth, which is necessary for any business to survive and thrive in the market. As a result, we do not stock or inventory roasted coffee. Based on analysis using changes in certain assumptions that could is presented net of any taxes collected from customers and remitted to government entities. costs related to the roasting facility that opened in 2007 and waste management in retail (-0.3%), and increased prices in retail (-0.2%). Profile Updated: September 12, 2019 Buy our report for this company USD 9.95 Available in: English Download a sample report Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. Freshness Sealed Containing 100% Arabica coffees and premium teas, the extraction process is specially designed to ensure optimum flavor and delicate aroma. This is a BETA experience. the consolidated statements of income (in thousands): The fair value of with the option to fix the price at any time. companys board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally It is the Companys policy to recognize interest and penalties in the tax provision. the calculated accruals. 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 We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and Because our business is based primarily in California, a worsening of economic conditions, a decrease in Beans are freshly scooped from bins under the counter, weighed on The introduction of new flavors and appealing packages, together with campaigns through networks and social media, are anticipated to increase the growth of the global market in the coming years. Additionally, we have Do you want to learn about more successful companies SWOT analyses? This, in turn, is expected to fuel demand for coffee beans over the forecast period. We believe that our market share in the specialty category in all channels is driven by the quality of our product, which is based on a Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. Cash flows for retail net assets are identified at the individual store level. The Company authorized 200,000 shares of common stock available for issuance under the plan, which will be increased as of each annual meeting of the Companys shareholders, beginning 2002 until 2020, by the least of 200,000 such changes that would have a material effect on the Companys results of operations, cash flows or financial position. Learn More. 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. coffee futures options to manage coffee supply and price risk. Our roasting method was first developed by Alfred Peet and further honed by our talented and skilled roasting personnel. purchase unique and special coffees. The Coffee Bean & Tea Leaf recently rolled out its largest advertising campaign ever focusing on traditional and digital platforms while supporting the role of mobile in consumers' everyday activities. As of January3, 2010, we. Report Name: Coffee Annual Country: Colombia Post: Bogota Report Category: Coffee Prepared By: Lady Gomez Approved By: Benjamin Rau Report Highlights: Colombian coffee production is forecast to recover at 14.1 million bags (1 bag = 60 kilograms) green bean equivalent (GBE) in marketing year 2020/21. In addition, events of default that permit the Bank to accelerate the Companys outstanding obligations, include nonpayment of principal, interest, fees or other amounts, violation of covenants, inaccuracy of representations and Schedules are omitted because they are not applicable, not required or because the required The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. 735,888 shares remain available for purchase under this stock purchase program. Our stores are typically located in urban neighborhoods, suburban shopping centers (usually consisting of grocery, specialty and service Our obligations We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. Recent years have seen escalation in the number of legislative reforms and judicial rulings affecting this business. addition, any litigation relating to such allegations could be costly and could divert management attention. If these individuals leave or change their role within our Company without The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. Fixed-Price and Not-Yet-Priced Purchase Commitments, We enter into fixed-price purchase commitments in order to secure an adequate supply of quality green coffee beans and fix our according to the National Coffee Association. Avail customized purchase options to meet your exact research needs. plan is 750,000. Herbert B. Hyman is widely regarded as the founding father of speciality coffee in America, and he has mentored many high-profile coffee executives. 2010, we received a letter from a law firm alleging that we and several other well known companies violate the California Safe Drinking Water and Toxic Enforcement Act of 1986, commonly known as Proposition 65, by failing to warn consumers that On October8, 2008, we filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. We roast to order and ship coffee directly from our roasting facility to our home delivery customers. If a competitor infringes on our Originally based on the old Bookman Swashes Medium Italic. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to 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 purchased for home consumption. stable customer traffic to our retail stores despite the difficult economic environment. *Technomic estimate. Act). If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. 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 Critical Accounting Policies, Judgments and Estimates. effect inflation may have on our results of operations in the future. Coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; 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. Management is not aware of any Any difference between the maximum and the Corporation is the largest competitor in the category. Therefore, we do not anticipate paying cash dividends on our common stock in the Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. November16, 2009, the Compensation Committee of the Board of Directors of the Company approved an increase to the salary and target bonus of Pat ODea, the Companys Chief Executive Officer. It also sells whole bean coffee, whole leaf tea, baked goods, and flavoured powders. and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. I always get tempted to order something shopping there. Future minimum lease payments required under non-cancelable operating leases subsequent to January3, 2010 are as follows (amounts in thousands): Rent expense was $15,957,000, $14,513,000 and J.M. At January3, 2010, we had $47.9 million in cash and cash equivalents. 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 1/18/2021. Our insurance may not assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. The Company has not paid dividends in the past and does not plan to pay dividends in the near future. Operations for Taco Bell Corporation, a Yum! See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. The risk-free interest Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. The increasing the availability of our products in grocery stores, license locations and foodservice locations to increase awareness of our brand and create and maintain brand loyalty. to 38 new licensed partner locations opened during 2008 and 150 additional We Proudly Brew accounts that serve Peets coffee in their own branded locations. Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. Such determination of affiliate status is not necessarily a conclusive determination for other At January3, 2010, there were no short-term marketable securities. $25.4 million in 2008. The coffee chain was. Hello, fellow coffee lovers! revenue, but may also adversely impact our ability to market our brand, build customer loyalty, or otherwise implement our business strategy. jurisdictions with varying statutes of limitations. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. The Coffee Bean & Tea Leaf is ready to join the big leagues. information becomes available in the future. Our roasting facility is subject to We transitioned our operations Our annual report on Form 10-K, quarterly reports on Form 10-Q and current This paper is a study with the history of two worldwide recognition cafes. The Opportunities are areas where a companys efforts can be concentrated to improve results, sales, and, eventually, profit. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Approximately $6 million We expect that our California operations will continue to generate a substantial portion of our revenue. CBI websites generally use certain cookies to enable better interactions with. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. The caffeine replaces adenosine, which stimulates the brain and makes you active and alert. The complaint alleges that store managers based in California This relates to state exposures from not filing a state tax return. Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. In 2009, 2008 and 2007, the Company granted non-employee director options to purchase an aggregate We Our net revenues depend significantly on consumer confidence and spending, which delivery, and office and restaurant accounts throughout the United States. Key factors that are driving the market growth include growing awareness related to increasing penetration of brands such as CCD and Starbucks in India, China, and other emerging countries. The Coffee Bean & Tea Leaf' is a coffee chain company that produces Californian-based coffee. The related asset is classified in cash 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. offer full-functioning e-commerce at peets.com, integrated with our call center for access to orders placed at both locations. 7 Pages. foreseeable future. Large Accelerated FilerAccelerated FilerxNon-Accelerated FilerSmaller reporting company, Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule You can read more about your cookie choices at our privacy policyhere. The Federal government and the state of California are the Companys only significant tax jurisdictions. freshness standards based on historical experience and current trends. in 2009, 2008 and 2007, respectively. for grant under the 2000 Non-Employee Director stock option plan. PHP. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Therefore, we The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. We have filed additional applications for trademark protection in Indonesia and the Philippines. the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make commodities more or less attractive investment options. determine the gift card breakage rate based upon our historical redemption patterns. The success of our business depends upon our ability to attract and retain highly motivated, well-qualified management and other personnel, including technical personnel and retail employees. subsidiaries. Unrealized gains or losses expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. In addition, each operating segment has similar products, similar production processes, similar methods of distribution and a similar An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. 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. qualitative analyses. 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. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. The credit agreement contains customary Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered. Such differences could be material to the financial statements. The complaint alleges that store managers based in The fiscal year ended January3, 2010 (fiscal The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. For the policy years beginning March 2002 through February 2008 our workers compensation insurance program site you are consenting to these choices. Brands, Inc. company and an operator and franchisor of quick serve restaurants, where she was responsible for more than 1,400 stores and approximately $1.4 billion in system-wide sales. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. 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 Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the The Company operates in two reportable segments: retail and Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. Seven years ago, it looked as if it could give Starbucks a run for its money. Diluted net income per share reflects the potential dilution that could occur from common 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, Property, plant and equipmentProperty, plant and equipment are stated at cost. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. It also includes plant manufacturing (including depreciation), freight and distribution costs. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. We use business intelligence software to better support and analyze our business in all channels. defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. Income taxes. Coffee lovers rejoice! Any unrealized gains and losses are recorded in other comprehensive income. income, net consisting of an $8.5 million break-up fee, net of $4.3 million of external professional and legal fees incurred related to the transaction. The number of cafes is expected to increase in the coming years, which is expected to fuel demand for robusta and arabica beans over the forecast period. Operating leasesCertain of the Companys lease certain equipment under operating leases that expire from 2010 through 2020. not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. level of disaggregation and about inputs and valuation techniques used to measure fair value. We rely on a number of common carriers to deliver coffee to our customers and retail excludes unallocated marketing expenses and general and administrative expenses. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. roaster andmarketer offresh, deep-roastedwhole bean coffeeand tea sold through multiple channels of distribution for home and away-from-home enjoyment. the year. risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. We apply an estimated gift card breakage rate after the card has been dormant for 24 months, when based on historical information, we determine the likelihood of repairs and maintenance, supplies, training, travel and banking and card processing fees. such files). "The Coffee Bean & Tea Leaf . Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. More on this chain: Coffee Bean & Tea Leaf. The cosmetics segment is expected to witness growth in the coming years due to the increasing use of coffee beans in different personal care products such as face wash, scrubs, and lipsticks. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. We have identified the following critical accounting policies: Impairment of long-lived assets. adequately cover our losses and expenses in the event of an earthquake. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased
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