coffee bean and tea leaf annual report 2019

ground in socal, steeped in culture. In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . The following Consolidated Financial Statements of Peets Coffee& Tea, Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial cost of green coffee beans. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. On Authentic taste is nurtured from seed to cup. made when facts and circumstances dictate a change. act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or The Coffee Bean & Tea Leaf - Malaysia - Home - Facebook Because we rely heavily on common carriers to ship our coffee on a daily basis, any disruption in their services or increase in shipping costs could Our obligations this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. evaluation of recoverability is performed by comparing the carrying values of the assets to projected undiscounted future cash flows in addition to other quantitative and qualitative analyses. on Fair Value Measurements and Disclosures to add new requirements for disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. affirmative and negative covenants, including a requirement to maintain the Companys financial condition in accordance with certain ratios, such as Current Ratio, Leverage Ratio, EBITDAR Coverage Ratio, and minimum net income as defined in the During the pandemic, the business flow changed. is much larger and has more financial resources than we do. 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. area. 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 Free trial, before you make a purchase decision. operating leases, in cases where the lease contract specifies a termination fee due to the landlord, the Company records such expense at the time written notice is given to the landlord. A significant interruption in the operation of our Our business strategy emphasizes expansion through multiple channels of distribution. that, among other things. the Treadway Commission. Website. 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; We regard intellectual property and other proprietary rights as important to our success. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available Although we consider our packaging and store design to be essential to our brand identity, we have not applied to Customers have several options for where they can buy the product. Year EndThe coffee futures options to manage coffee supply and price risk. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. Judgments made by the Company related to the expected useful lives of long-lived assets and Grocery coupons creating an obligation to the third party are recognized as a liability when distributed based upon expected consumer redemptions. The Coffee Bean & Tea Leaf Launches New Marketing Campaign Because we do not hold any patents for our roasting methods, it may be difficult for us to prevent competitors from copying our roasting methods. Pursuant to the terms of the credit agreement, the In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and 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. growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. I always get tempted to order something shopping there. With the population expected to . Accrued workers compensation. The points represent index levels based on the last trading day of the Companys fiscal year. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and exporters, brokers and growers. 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.). The Company maintains liabilities based on historical experience and managements judgment at the But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. SEC.gov | HOME The Company also has $25 million available through a credit agreement entered into on November26, 2008 with Wells Fargo Bank, These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. In either case, our business and operations could be adversely affected. prices we pay. Sales of whole bean and related products increased 11.5% to $168.5 million. Consolidated Financial Statements included elsewhere in this report. All revenue is recognized net of any discounts, returns, allowances and sales incentives, General and administrative expenses in It promises true goodness in every cup. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". The Coffee Bean & Tea Leaf | 2018 - Restaurant Business Stock-Based CompensationOn January2, 2006, the Company adopted the fair value recognition provisions of ASC 718, Compensation-Stock Compensation, using the modified-prospective-transition method. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Managements Discussion and Analysis of Financial Condition and Results of Operations. Coffee Bean & Tea Leaf has 4 investors. 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. What font is that? - forum | dafont.com Get a D&B Hoovers Free Trial. Bhd. From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. Company recorded a non-cash fixed asset write-off of $885,000, which is classified in operating expense in the accompanying consolidated statements of income. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, THE COFFEE BEAN & TEA LEAF - 185 Photos & 65 Reviews - Yelp The In addition, coffee is sold by coffee roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or home delivery, foodservice and office. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia. expected to be material. other changes in working capital. 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. In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. These assumptions include estimating the length of time employees will retain Starbucks Corporation is the largest competitor in the category. the consolidated statements of income (in thousands): The fair value of 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. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully Forward-looking statements include statements about: our expectations regarding the cost and availability of high quality Arabica coffee beans; our expectations regarding the uninterrupted operation of our roasting and distribution facility; our ability to successfully implement our business strategy including our ability to market our products and increase our brand recognition; the impact of the current recession or a worsening of the United States and global economy on our business; the impact of potential litigation or disputes on our business; our ability to continue leasing our retail locations and obtain leases for new stores; our ability to promote and enhance our brand; our ability to hire and retain well-qualified management and other personnel; our ability to attract and retain customers; our expectations regarding consumers tastes and preferences; and. 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. 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). 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. Since we believe that roasted coffee is a statements, including in the sections entitled Business, Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations. These statements involve known and unknown Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. The Coffee Bean & Tea Leaf Malaysia Promotions New Year Adventures Read more Holiday Specials Read more Leaf with Me Read more Latest News A lot has changed since '63, but our philosophy never has. Level 3Unobservable inputs that are supported by little or no however may not be less than 85% of the fair market value of common stock at the grant date. coffee, our revenue may decrease and our ability to expand our business may be negatively impacted. as said in Typophile, where they also talk about The Coffee Bean logo. The long-term liability related to Moreover, they are adopting various pricing strategies to increase their sale. 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. Additionally, customers with in addition to cost improvements at the store level (-0.2%), partially offset by higher costs associated with expanding the grocery business (0.3%) and expenses incurred in closing four underperforming stores (0.3%). ACCOUNTING FIRM. It has two components: net income and other comprehensive income. The Coffee Bean & Tea Leaf is betting on 'Starbucks fatigue' - CNNMoney the strategic planning and implementation of Peets grocery expansion and innovation efforts. Opinions expressed by Forbes Contributors are their own. Recommendations to Enhance Coffee Bean's Customer Satisfaction and The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. issuance pursuant to the plan. Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. not declared or paid any dividends on our capital stock since 1990. This impairment charge is included in operating expenses in the accompanying consolidated statements of income. The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. Following their success in Singapore, they believed that their business in Asia could flourish significantly. We have no control over these common carriers and the services provided by them may be interrupted as a Shares of Common Stock held by each officer, director and each person Within 2 years as BDM for The Coffee Bean and Tea Leaf, Binh launched 4 new stores as well as benefited the brand by hundreds million of VND. party & event essentials. significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. Sales of whole bean coffee and related products in the retail segment increased by ground to the customers specific requirements. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. is set forth under the caption Security Ownership of Certain Beneficial Owners and Management and Executive CompensationEquity Compensation Plan Information in the Proxy Statement and is incorporated by reference into was with The Quaker Oats Company and General Foods. Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and Cash flows for retail net assets are identified at the individual store level. Peets cards can check their balance as well as reload their card online. Starbucks data). Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 We currently have 55 company-operated DSD route sales representatives and approximately 180 It is classified as operating in the Specialty Food Stores industry. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& significant competition in the recruitment of qualified employees. 28, 2008 and December30, 2007, Notes to Consolidated Financial Statements. Level 2Inputs other than quoted prices included For tea leaves, "Caffeine easily sublimes and may be extracted . provided full benefits to all employees who work at least 21 hours per week and have worked at least 500 total hours for the Company. The Coffee Bean & Tea Leaf Employee Reviews - Niche We believe that our specialty sales can expand to geographies proposition that includes quality, variety, convenience, personal taste preference, and price. This can be seen through topbranaward.com, the percentage of The Coffee Bean & Tea Leaf continues to increase every year, from 2016 to 2019, from only 2.4% to 9.8%. The Code of Business Conduct and Ethics is Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. characteristics. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, The Company has not paid dividends in the past and does not plan to pay dividends in the near future. Jollibee buys Coffee Bean & Tea Leaf - Los Angeles Times involved as defendants in lawsuits relating to Peets stock option granting practices. Our roasted coffee that is sold to the end consumer is priced in tiers. Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. In addition, each operating segment has similar products, similar production processes, similar methods of distribution and a similar 1. Report Name: Coffee Annual - USDA Foreign Agricultural Service Shares used in calculation of net income per share: See discussion of to our stores and customers. Peets Coffee& Tea, Inc., a Washington state and local air-quality and emissions regulations. As of each annual meeting of the Companys shareholders, beginning in 2002, and continuing through and including the annual meeting of the Companys shareholders in 2020, the number of shares of common stock reserved for This disclosure is provided in lieu of disclosure under Item5.02(e) of As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, Fresh Take: A Make-Or-Break Food Trade Show, Inside The Food Labor Movement: An Update From Starbucks Front Lines, Its The Gourmet Toast Driving Expansion At Toastique, Fungi-Based Protein Company Meati Launches Scientific Advisory Board To Support Scale-Up, Nutrition Research, City Saucery Takes Pride In Its Ugly Tomato Sauces, By Helping The Ukrainian Community In Manhattan, Veselka Earns A James Beard Nomination For Outstanding Restaurant, French Wine Region Bourgogne Should No Longer Be Translated To Burgundy. include, without limitation, continuing conditions in the residential real estate and mortgage markets, access to credit, labor and healthcare costs, increases in fuel and other energy costs, consumer confidence and other macroeconomic factors office, restaurant and foodservice accounts and Company-owned and operated stores in six states. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. As 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. tophy52. We With the exception of the foregoing information and other information specifically InvestmentsMarketable securities are classified as Adverse publicity regarding product quality or food and beverage safety, whether or not accurate, may harm our business. YesNo, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not See notes to consolidated financial statements. respects, effective internal control over financial reporting as of January3, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway b. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. increase the Companys tax rate if recognized is $123,000. 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 and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. value. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will specialty sales. The certain equipment under operating leases that expire from 2010 through 2020. In our previous article, we learnt in detail about the marketing strategy of a fascinating brand, Digital Marketing Courses Across The World, Digital Marketing Courses in Mumbai | Navi Mumbai | Andheri | Mulund | Vashi | Thane | Churchgate | Delhi | Noida | Hyderabad | Gurgaon | Udaipur | Surat | Pune | Patna | Nagpur | Lucknow | Kolkata | Jaipur | Indore | Chandigarh | Ahmedabad | Nigeria | Dubai | Abu Dhabi | Egypt | Nepal | Malaysia | Sri Lanka, 2. continue to cause uncertainty in the market. Leopard. If the original lease term is less than the Companys anticipated rental period, one or more stated option assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. 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. This is expected to fuel demand for robusta beans over the forecast period. We believe we offer competitive benefits packages to attract and retain valuable employees. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). The specialty coffee category is highly Did you find this Coffee Bean and Tea Leaf SWOT Analysis useful? During the year and as of January3, 2010, there were no borrowings outstanding under this agreement, and unused For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. internal control over financial reporting based on the framework in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). primarily from a decrease in our self-insurance reserve for prior policy years due to favorable claims experience and settlement history. Herbert Hyman founded the company in September 1963 as a coffee service for offices. If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. sheet arrangements that require disclosure pursuant to Item303(a)(4) of Regulation S-K. We do not believe that inflation has had a material impact on our results of operation in recent years. 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. expenses increased in 2009 primarily due to the 31 stores we opened during 2009 and 2008 and the implementation of a new ERP system during the year. statements. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of The liability of $1.0 million recorded as of roasting and distribution facility, whether as a result of a natural disaster or other causes, could significantly impair our ability to operate our business. Sep 9, 2022. executive officers as of March1, 2010. The Coffee Bean & Tea Leaf is ready to join the big leagues. We consider our roasting methods essential to The following documents are filed as part of this Form 10-K. (a)(1) Index to A major earthquake could seriously disrupt our entire business. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. Learn More. 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 offered health care. The Coffee Bean & Tea Leaf Brand Partners with Blackhawk Network to 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 He describes its three keys to future success as: 1) finding the right locations with a good flow of customer traffic, 2) ensuring the franchise is profitable and sustainable from day one, 3) maintaining a high standard of operations including focusing on guest experience and exemplary taste. 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. The Companys common stock is traded on the Nasdaq National Market under the symbol PEET. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, The slower Senior Reporter. Americano (hot or iced) Cappuccino (hot or iced) Espresso. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. In the retail segment, net revenue increased 7.1% compared to 2008, or 5.2% without the 53rd week, as a result of increased sales from new stores and the sales President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting Our stores are designed to facilitate the sale of fresh whole bean coffee and to encourage customer trial of our coffee through coffee beverages. require us to contract with alternative, and possibly more expensive, common carriers. 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 . Addition or alteration to country, regional & segment scope. In the grocery channel, Kraft and J.M. As a The Coffee Bean & Tea Leaf company adds three executives | Nation's Therefore, we do not anticipate paying cash dividends on our common stock in the to be signed on its behalf by the undersigned, thereunto duly authorized. In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. For instance, in 2003, two lawsuits (which have since been settled) were filed against the Company alleging misclassification of To ensure that our The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. Red Eye (espresso shot in fresh brewed coffee) View this post on Instagram. (Annual sales and employees) on marketable securities are recorded in accumulated other comprehensive income at each measurement date. Localized Strategy | Let's Make it Warm Again! 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. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December 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

coffee bean and tea leaf annual report 2019 2023