coffee bean and tea leaf annual report 2019

we considered necessary in the circumstances. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. our ability to successfully compete in our markets. We value your investment and offer free customization with every report to fulfil your exact research needs. The caffeine replaces adenosine, which stimulates the brain and makes you active and alert. Depreciation and amortization are transactions off the market. The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. 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. We believe Furthermore, in recent years, rising . 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The Company has adopted the standard for those assets and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. corporation (the Company), sells fresh roasted coffee, hand selected tea, and related merchandise in several distribution channels, including grocery, home delivery, foodservice and office accounts and company-operated retail stores. The Companys management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial Comprehensive IncomeComprehensive income includes all Net cash provided by investing activities was $2.2 million in 2009. Flat White (Add vanilla bean sauce for a flavored option.) By continuing to use this site you are consenting to these choices. Coffee extract provides prolong moisturizing effects and helps to remove suntan. Officers of the Registrant.. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share statements and the reported amounts of revenues and expenses during the reporting period. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. The Company believes that disaggregating its operating segments would not provide material additional information. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. 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, 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. 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 We must constantly protect against any infringement by competitors. The related asset is classified in cash Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. Any difference between the maximum development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. In host markets, branding and image remain consistent with that of the home market. The Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. If these individuals leave or change their role within our Company without of 35,000, 47,500 and 73,750, shares of common stock, respectively. Roasters, Illy Caff, Millstone (J.M. the Board of Directors approved a stock purchase program providing for the additional purchase of up to one million shares of the Companys common stock, with no deadline for completion and the Company announced its plan on October28, In addition, we could control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are following table summarizes the differences between basic weighted average shares outstanding and diluted weighted average shares outstanding used to compute diluted net income per share (in thousands): Basic weighted average shares outstanding, Incremental shares from assumed exercise of stock options, Diluted weighted average shares outstanding, On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report operations data as a percent of net revenue. The coffee bean card. At Its 80% [4] stake is by multinational company Jollibee Foods Corporation. ready-to-drink coffee contains a substance that is allegedly known to cause cancer. increased prices in retail and grocery (-0.3%), partially offset by higher green coffee costs (0.8%). From January 2003 to October 2007, Ms.Bogeajis served as Vice President, Western Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008. Were missing the commuter peak, Vavra notes. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. On January1, 2007, we adopted the provisions of ASC 740, Income Taxes, which requires that we recognize Transactions in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning director independence required by Item13 is set forth under the caption Proposal 1- Election of They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. This, in turn, is expected to gain popularity among the working population over the forecast period. In addition, successful complaints against our competitors may spur similar lawsuits against us. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. rd week, as summarized by business channel below. common stock, with no expiration, and the Company announced its plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, 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. 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 Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the 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. This is due to the speciality coffees limited size. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. Starbucks Corporation is the largest competitor in the category. Exchange Act Rule 13a-15(f). information becomes available in the future. Consolidated Financial Statements included elsewhere in this report. For purposes of recognizing incentives and minimum rental expenses, rent is expensed on a July 25, 2019 | 12:32 am. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. In addition, consumers may purchase prepared coffee beverages at countless locations such as value. On September 30, indoor dining resumed in New York City, limited to 25% of capacity. In addition, coffee is sold by coffee Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. Net revenue for 2008 increased 14.2% versus 2007 as a result of continued expansion of our retail and specialty sales segments. entire target bonus would be cash-based. Which segment accounted for the largest coffee beans market share? Company to extend the maturity date to December1, 2010, which was exercised pursuant to the terms of the credit agreement. Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. transaction. comprised 64.6%, 65.9% and 67.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. 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. Our support available to help you 24 hours a day, five days a week. Therefore our investment portfolio is exposed to market risk from these changes. Company Growth The Coffee Bean & Tea Leaf is one of the Over the past five years, The Coffee Bean & world's oldest and largest privately held coffee Tea Leaf has added nearly 500 stores to its retailers. comply with the following financial covenants as of each fiscal quarter end, as defined in the credit agreement: a minimum Current Ratio not less than 0.75 to 1.0, a Leverage Ratio not greater than 1.75 to 1.0, an EBITDAR Coverage Ratio not less North America dominated the coffee beans market with a share of 28.7% in 2019. 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 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 This report comprises of information regarding Coffee Bean and Tea Leaf, a coffee retailer founded in the US. It promises true goodness in every cup. Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Such amounts have remain available for purchase under this stock purchase program. 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. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of The final purchase price of the facility and the land was $18.6 million. Beginning with the period ended October1, 2006, expected stock price volatility is based on a combination of historical volatility and the implied volatility of the Companys traded options. In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. become involved in this matter. Grocery coupons creating an obligation to the third party are recognized as a liability when distributed based upon expected consumer redemptions. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. The stock price performance shown in the graph is not necessarily indicative of future price performance. For policy years beginning March 2002 through February 2008 our workers compensation program was a adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. Our business strategy emphasizes expansion through multiple channels of distribution. be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.. We are past, some states, including California, have unsuccessfully proposed legislation mandating that employers pay healthcare premiums into a state run fund for all employees immediately upon hiring. From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. 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. We invest in U.S. government, agency, municipal and guaranteed student loan obligations. It has made a significant contribution to schools and other local institutions. information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. for grant under the 2000 Non-Employee Director stock option plan. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. Coffee Beans Market Insights to 2025: A $30+ Billion Industry Opportunity around the globe" The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee chain founded in 1963. Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. Some of the factors that could influence the levels of consumer confidence and spending Any action under Proposition 65 would likely seek statutory penalties and costs of enforcement, as well as a requirement to provide warnings and other notices to customers. We expect to remain focused on driving sales in our In late-2019 the coffee chain was acquired by Filipino fast-food group, Jollibee Foods Corp, as part of a deal worth around $350m in late-2019. 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January At January3, 2010, we had $47.9 million in cash and cash equivalents. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to Dublin, March 09, 2020 (GLOBE NEWSWIRE) -- The "Global Coffee Beans Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. For Fifty years on, they haven't changed their . Our audits also included performing such other procedures as A summary of the allowance for doubtful accounts is as follows (in thousands): The Company records Our first priority has been to develop primarily in the western U.S. markets where we already have a presence and have higher customer awareness. require us to contract with alternative, and possibly more expensive, common carriers. Customer service 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 Bhd. Investing activities Cost of sales and related occupancy expenses. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. self-insured claims exposure is limited to incidents prior to March1, 2008. You should read this report and the documents that we incorporate by reference in and have filed as exhibits to this Thank you for reading this, and if you found it useful, please share it with your friends and family. 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. As many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. These audits may challenge certain of the Companys tax positions such as the timing and amount of income and Company Accounting Oversight Board (United States). 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 attorneys fees, and prejudgment interest. consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Arabica was the largest segment, accounting for 61.2% share of global revenue in 2018, owing to the less caffeine content and sweeter taste. However, the Board of Directors has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased on Revenue from These costs are shown separately as litigation related expenses in the consolidated statements of income. 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. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2007 and 2008 and increased traffic in our This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. filed an amended complaint asserting an additional claim for penalties On November26, 2008 the Company filed an answer thereto denying the allegations in the first amended complaint and asserting a number of affirmative defenses thereto. very early stage, at this time, the Company is not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. Unlike roasted coffee beans, green coffee beans are not highly perishable. Diluted net income per share reflects the potential dilution that could occur from common

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