She assumed additional responsibility for the management of the grocery channel in October 2007 and in November 2008 became the Vice President, General Manager Consumer Business (grocery and home delivery), leading including coupon redemptions and rebates. The Proxy Statement You're more than your latest funding, tell our customers your company's story. Customers have several options for where they can buy the product. During the fourth quarter of 2009, the Company recorded a gain on the sale of stock that we acquired in Diedrich within the year. to our stores and customers. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. On October27, 2008, "The quality of research they have done for us has been excellent.". Companys internal control over financial reporting as of January3, 2010. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. In September 2006, the Financial Accounting effective replacements, our operations may suffer. 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. HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). 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. The standard describes
The Coffee Bean & Tea Leaf | 2020 - Restaurant Business The coffee bean card. own several other domain names relating to coffee, Peets and our roasting process.
The Coffee Bean & Tea Leaf - Singapore 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 specialty coffee category is highly competitive and fragmented among various distribution channels. Shares of Common Stock held by each officer, director and each person offer a limited line of specialty food items, such as jellies, jams and candies. India has more than 1,400 registered cafs. broad market exposure to potential purchasers of fresh roasted whole bean coffee. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. All intercompany transactions have been eliminated in consolidation. Which segment accounted for the largest coffee beans market share? 9. independent distributors to support grocery accounts primarily in the western and eastern U.S. and other selected markets. 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. The slower growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability of Peets coffee in grocery stores and our own new retail the ability of the Company to realize undiscounted cash flows in excess of the carrying amounts of such assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions and changes in See Note 13, Commitments and Contingencies for further discussion. development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software.
The 2019 Coffee and Tea Report chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets 1728 Words. Flat White (Add vanilla bean sauce for a flavored option.)
The Coffee Bean & Tea Leaf (Malaysia) Sdn. Bhd. (Malaysia) - EMIS There is no balance for closed store reserves as of December28, 2008. 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. 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 7 Pages. 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 . Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully whole bean coffee inconsistent with our standards, store our whole bean coffee for long periods of time or resell our whole bean coffee without our consent, which in each case, potentially affects the quality of the coffee prepared from our purposes. Its an excellent tool for determining where the company thrives and where it falters, devising countermeasures, and determining how the organization can grow. [35] We must constantly protect against any infringement by competitors.
The Coffee Bean & Tea Leaf PH (@cbtlph) / Twitter statements. As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. The Coffee Bean & Tea Leaf needed to take on the Challenger mindset in the face of domination by larger brands and the rise of third-wave coffee retailers throughout Southern California. 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. entire target bonus would be cash-based. 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. accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. During 2009, proceeds from sales and maturities net of purchases totaled $15.8 million, including $7.7 million of Diedrich common stock. Growing awareness related to the health benefits of these beans has resulted in an increase in consumption among the diabetic population as it helps in reducing the risk of diabetes type 2. Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. Net cash provided by operations was $41.9 million in 2009 compared to We consider our roasting methods essential to awareness, building customer loyalty and creating a premium specialty coffee brand. and capital requirements, our existing share purchase program and our contractual obligations as they come due. 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. If we fail to continue to develop and maintain our brand, our business could suffer. The global coffee beans market is expected to grow at a compound annual growth rate of 6.7% from 2019 to 2025 to reach USD 42.47 billion by 2025. b. impact our grocery business. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and and marketable securities and with operating cash flows.
Comprehensive Coffee Bean and Tea Leaf SWOT Analysis | IIDE Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. 2905. grant and have a term no more than ten years from the date granted. Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. title does pass to the distributor and revenue net of commissions is recorded upon delivery to the distributor. (part of our specialty segment). $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. 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 From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. If these individuals leave or change their role within our Company without Stock options vest according to a pre-determined vest schedule set at grant date. is much larger and has more financial resources than we do. Approximately $6 million future, by the actions of certain organizations and associations that have historically attempted to influence commodity prices of green coffee beans through agreements establishing export quotas or restricting coffee supplies worldwide. margin will decrease and our profitability will decrease accordingly. We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. agreement. companys internal control over financial reporting is a process designed by, or under the supervision of, the companys principal executive and principal financial officers, or persons performing similar functions, and effected by the 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 Robusta contains 2.7% caffeine, which is almost double of 1.5% of arabica. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. These distributors have their own sales and account management resources. The average time that one spends with a group at Coffee Bean & Tea Leaf is 1.5 hours. 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. 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 For the policy years beginning March 2002 through February 2008 our workers compensation insurance program Free business intelligence platform with subscription, 4. 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. 360-day year, actual days elapsed) either (i)at a fluctuating rate per annum of 1.50% above, for any day, the rate of interest equal to LIBOR then in effect for delivery for a 1 month period, or (ii)at a fixed rate per annum of 1.50% Company to extend the maturity date to December1, 2010, which was exercised pursuant to the terms of the credit agreement. In 2009, we opened 8 new stores and we The The decrease was primarily due to leverage of retail overhead costs (-0.8%), Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. . The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Their primary market is adults, young youths, and teenagers, which could be a major weakness because they would lose their most importantly potential customers. As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. Company-operated retail stores. of 35,000, 47,500 and 73,750, shares of common stock, respectively. Changes in our valuation of the deferred tax 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). 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. consolidated balance sheets. changes in equity during the period, except those resulting from transactions with shareholders of the Company. When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for some time in the U.S. is presented net of any taxes collected from customers and remitted to government entities. As a Depreciation and amortization Seven years ago, it looked as if it could give Starbucks a run for its money. The Company is required to InvestmentsMarketable securities are classified as In addition, coffee is sold by coffee adversely affect our business.
The Coffee Bean & Tea Leaf company adds three executives | Nation's The Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. We purchase tea directly from importers and brokers and store and pack the tea at our facility in Alameda, California. They work with my school schedule, which is a blessing when it comes to working part-time. Consolidated Financial Statements included elsewhere in this report. When ceasing operations under The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Revenue RecognitionNet revenue is recognized at the point of sale at our lowest level for which there are identifiable cash flows when assessing impairment. We expect to finance these capital expenditures with our cash recorded on the straight-line method over the estimated useful lives, which range from 2 to 40 years. At repairs and maintenance, supplies, training, travel and banking and card processing fees. By Lee Breslouer. the commencement of the lease. attorneys fees, and prejudgment interest. terms are included in the straight-line computation. 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 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. Click to read about our adventures since 1963! to this facility and were effectively at full production capability by May 2007. 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 Our coffee and related items are sold through multiple channels of distribution that provide Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. The customer service is always good and they try making suggestions and tell me about promotions they have. reporting, included in the accompanying Managements Report on Internal Control over Financial Reporting. Revenue from 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. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. Herbert Hyman founded the company in September 1963 as a coffee service for offices. employees or agents deliver fresh goods to our grocery partners. Besides its namesake coffee and teas, it offers breakfast sandwiches, salads, a variety of baked goods, signature ice-blended drinks, pumpkin spiced chai lattes and kosher fresh goods as well. In addition, 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. other product costs. Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. Some of the factors that could influence the levels of consumer confidence and spending The license partner is responsible for the build-out and management of the unit and we provide Level 3Unobservable inputs that are supported by little or no This impairment charge is included in operating expenses in the accompanying consolidated statements of income. If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. 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. Although we do not purchase coffee on the commodity markets, price movements in the commodity trading of coffee impact the In addition, we indirectly compete with On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). 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. The Company was not required to measure any other significant non-financial assets and our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. 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. Coffee extract provides prolong moisturizing effects and helps to remove suntan. We believe that our specialty sales can expand to geographies Although we were ultimately outbid for the business, the transaction resulted in a net gain of $11.5 million due to the receipt of a break-up fee and gains on the sale of Diedrich Coffee stock, net of external professional on marketable securities are recorded in accumulated other comprehensive income at each measurement date. Managements Report on Internal Control over Financial Reporting. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments.
Our goals for 2009 were to continue to grow our business and to The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible established relationships with foodservice and office distributors to expand our account base in select markets and channels. We record an estimated liability for the self-insured portion of workers compensation claims. Tenant improvement allowances are amortized as a reduction in rent expense over the term of the lease. We have filed additional applications for trademark protection in Indonesia and the Philippines. This annual report on Form 10-K (this report) contains forward-looking