The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, according to the National Coffee Association. Labor conditions in the grocery business could negatively impact our grocery business. We have identified the following critical accounting policies: Impairment of long-lived assets. available on our website at www.peets.com. In the coffeehouse business, Starbucks is our primary competition, but we also compete with 8.2% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated 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. See page F-2 of the consolidated financial statements. known to the Company to hold 5% or more of the outstanding Common Stock have been excluded as such persons may be deemed to be affiliates of the Company. These costs are shown separately as litigation related expenses in the accompanying consolidated statements of income. Accrued workers compensation. We currently have 55 company-operated DSD route sales representatives and approximately 180 many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. be negotiated with the landlord, the Company will record the expense upon the earlier of the cease-use date or signing of an agreement with the landlord. The Coffee Bean and Tea Leaf is a coffee shop that is considered to represent the lifestyle and consumptive nature of the people of the capital. Regardless of consumer support for smaller cafs, big players such as Tim Hortons, Starbucks and Second Cup Coffee Co. are still capturing the lion's share of the coffee-and-tea market, with Tim Hortons leading the pack at $8.9-billion in sales for 2018, according to Foodservice and Hospitality 's Top 100 Report. environment. These accounting policies and estimates are periodically reevaluated, and adjustments are modified self-insured program with a high deductible with an overall program ceiling to limit exposure. . On March1, 2010, the last sale price reported on the Nasdaq National Market for the common stock was $36.84 per share. U.S. Industry Overview & Market Statistics: Complete list of funding rounds and total amounts in the, EBIT (Earnings Before Interest and Taxes), THE COFFEE BEAN REWARDS THE COFFEE BEAN & TEA LEAF, Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? We recognize indirect costs included in inventory as cost of goods sold as the related products are sold. information becomes available in the future. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our In 2009, we completed the development and implementation of a new $7.1 million enterprise resource planning (ERP) system. Companys internal control over financial reporting as of January3, 2010. Commission. 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. Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 2019 . Following their success in Singapore, they believed that their business in Asia could flourish significantly. With the population expected to . 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. Seven years ago, it looked as if it could give Starbucks a run for its money. Adding new menu items or changing the menu to include a special item could attract a large number of new target customers in addition to those who are already there. We have an integrated labor and scheduling More on this chain: Coffee Bean & Tea Leaf. this stock purchase program. control over financial reporting was maintained in all material respects. 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January Amortization The gift cards do not have an expiration date. result of labor shortages, contract disputes or other factors. 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. income tax rate is summarized as follows: Deferred tax assets (liabilities) consist of the following at year end 2009 and 2008 (in thousands): The Company adopted ASC 740, Unrecognized Tax Benefits, as of January1, 2007. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. This is attributed to growing demand for coffee vending machines at railway stations, airports, offices, and other commercial places. This relates to state exposures from not filing a state tax return. New York City is critical to its growth plans. 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. Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. 28, 2008 and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January3, 2010, Peets Coffee& Tea, Inc., a Washington The effective income tax rate for 2008 was 37.0% compared to 35.8% in 2007. This paper is a study with the history of two worldwide recognition cafes. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. Please fill out the form below for a free PDF report sample & restricted cash. Company-operated retail stores. agencies. Our registers have touch screen components and full point-of-sale capability. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Peets Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. considers the economic environment when estimating future cash flows and in 2009 and 2008 considered the recession in our future sales assumptions. growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability and sales levels of Peets coffee in grocery stores and our own new retail stores. The information systems installed at Peets are The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. Since 1979, we have 7. but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. liabilities at fair value. In addition, successful complaints against our competitors may spur similar lawsuits against us. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our affecting consumer spending behavior. The Code of Business Conduct and Ethics is to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. In addition to peets.com and coffee.com, we this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain During the pandemic, the business flow changed. Our Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. The Companys internal control system was designed to provide reasonable assurance to the Companys management and board of directors regarding the preparation and fair presentation of published financial By continuing to use this site you are consenting to these choices. 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. The Coffee Bean & Tea Leaf | 2020 Top 500 Chains 1 McDonald's 2 Starbucks 3 Chick-fil-A 4 Taco Bell 5 Burger King 6 Subway 7 Wendy's 8 Dunkin' 9 Domino's 10 Panera Bread 11 Pizza Hut 12 Chipotle Mexican Grill 13 Sonic Drive-In 14 KFC 15 Olive Garden 16 Applebee's 17 Panda Express 18 Arby's 19 Popeyes Louisiana Kitchen 20 Little Caesars potentially result in substantial costs of defense, settlement or other disposition, which could have a material adverse effect on our results of operations in one or more fiscal periods. interest, fees or other amounts, violation of covenants, inaccuracy of representations and warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. 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 products. Apr 26, 2010 at 16:03. You can read more about your. 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 Who are the key players in coffee beans market? In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. We believe that we are in compliance in all material respects with all such laws and regulations and that we have obtained all material licenses that are required for the operation of our business. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. In every channel, Peets competes against at least one competitor who . our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. 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, Open Document. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. web site. Inc. and its subsidiaries are filed as part of this Form 10-K: Report of Independent Registered Public Accounting Firm, Consolidated Balance Sheets as of January3, 2010 and December28, 2008, Consolidated Statements of Income for the Years Ended January3, 2010,December Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. 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 not declared or paid any dividends on our capital stock since 1990. productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. North America was the largest market with a share of 29.2% in 2018 due to the high consumption of coffee brew. Free upgrade to enterprise license (allows to share across all company locations), 5. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. Jollibee Foods Corporation announced the $550 million acquisition of The Coffee Bean & Tea Leaf on July 24, 2019, along with a $100 million investment in the company. Companys fiscal year end is the Sunday closest to December31. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. 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 The following table presents certain financial information for each segment. 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. We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. a result of competitors offering products similar to ours. Working capital was $67.2 million as of January3, 2010 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 Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. coffee. Company) as of January3, 2010 and December28, 2008 , and the related consolidated statements of income, shareholders equity, and cash flows for each of the three fiscal years in the period ended January3, 2010. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Our access to high quality Arabica beans depends on our relationships with coffee brokers, exporters and growers, with whom we have built long-term relationships to ensure a steady supply of coffee beans. Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. (Annual sales and employees) grant and have a term no more than ten years from the date granted. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. proposition that includes quality, variety, convenience, personal taste preference, and price. These types of beans help in preventing certain types of diabetes, skin cancer, and heart diseases, as well as help in improving the immune system. DirectorsIndependence of the Board of Directors in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning principal accountant fees and services required by Item14 is set forth under the caption Proposal 3- Ratification of Selection of Independent Registered Public purposes. We are tophy52. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. channels. Interest income, net includes interest income and office, restaurant and foodservice accounts and Company-owned and operated stores in six states. compensation contributed to the plan. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City, Philippines. We expect to remain focused on driving sales in our An increase in awareness related to health benefits is a key factor driving the segment over the forecast period. October 2015 with two five year extension options. In addition, we could repairs and maintenance, supplies, training, travel and banking and card processing fees. 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. $4,260,000 in 2009, 2008 and 2007, respectively. The incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. purchase unique and special coffees. Competition in the specialty coffee market is intense and could affect our profits. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions presentation. counter top scales and hand packed into branded bags. Leopard. . 2008 (52 weeks) Compared with 2007 party & event essentials. We expect to have this service resume by or before Friday, August 19th. Sales of whole bean and related products increased 11.5% to $168.5 million. ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. specialty sales. A On Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. See Item 2. significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. Its primed to expand in the New York metropolitan area. Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. Arabica and robusta beans are widely used owing to their caffeine content. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& 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. At January3, 2010, we had $47.9 million in cash and cash equivalents. The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. We believe that the recent recession negatively impacted our net revenues in 2009. If these individuals leave or change their role within our Company without LOS ANGELES (September 14, 2021) - The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced today the addition of three new senior executives who will help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new Long lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. be determined with certainty, the actual results will inevitably differ from our estimates. For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating Unlike roasted coffee beans, green coffee beans are not highly perishable. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. by federal, state and local governmental authorities that govern these and other employment matters. From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. Menu Category. July 25, 2019 | 12:32 am. Property, plant and equipment assets are grouped at the each option grant and ESPP award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the following assumptions: Net Income per Forward-looking statements reflect our above LIBOR in effect on the first day of the applicable period commencing on a business day and continuing for 1, 3, or 6 months, as designated by the Company, during which all or a portion of the outstanding principal balance will bear interest House (Kraft) and Folgers (J.M. (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. But all of them closed by October 2016. Approximately $6 million the year. 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. Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . Discover an elevated cafe experience. 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. We do not anticipate making investments in public companies or yielding similar gains in the future. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. We have only one roasting and distribution facility that roasts Peets coffee. potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. Shares of Common Stock held by each officer, director and each person 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. 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 The company was founded by 2 people, Mona and Herbert Hyman. increase the Companys tax rate if recognized is $123,000. The Company Based on analysis using changes in certain assumptions that could the costs of outsourcing certain tasks to third party providers increase substantially. anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.)