coffee bean and tea leaf annual report 2019

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It becomes a pleasant gathering place for all of their friends. I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. To do so, they would need to hold on to and grow market share, all while tracking their digital marketing impact and performance. 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. Our business strategy emphasizes expansion through multiple channels of distribution. Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. Analysts say that even as the coffee franchise market flourishes, companies like Coffee Bean are at a disadvantage. coffee at Peets and make a long-term commitment to our artisan craft. We are GDPR and CCPA compliant! Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. position or results of operations of the Company. Operating cash flows were positively impacted in 2009 primarily by increased net income, net of depreciation expense, and increases in accrued liabilities for the litigation reserve and payroll timing, partially offset by made when facts and circumstances dictate a change. court against the companies named in the letter. As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. 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 Approximately $6 million Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. foreseeable future. Given these risks, uncertainties and other important factors, you should not place undue reliance on these forward-looking statements. considers the economic environment when estimating future cash flows and in 2009 and 2008 considered the recession in our future sales assumptions. Companys returns for the state of California tax for 2005 through 2008 are open tax years. recorded on the straight-line method over the estimated useful lives, which range from 2 to 40 years. 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 the liability to b. competitive and fragmented among various distribution channels. our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. 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. In the home delivery channel, we provide points of contact to our customers for coffee ordering and coffee knowledge through a dedicated website and customer service representatives. 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. From 2000 to 2003, he was at The fiscal year ended January3, 2010 (fiscal Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial such files). We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. 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 The fair market value of Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. We expect to remain focused on driving sales in our In accordance with the aggregation criteria of ASC 280, these three operating segments have been aggregated into one reportable segment because, in the Companys judgment, the specialty operating segments 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. The PHP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. It is sometimes shortened to simply Coffee Bean or The Coffee Bean. Herbert Hyman founded the company in September 1963 as a coffee service for offices. We have a retail point-of-sale system that we believe increases store Coffee Tea Our Story Coffee Sourcing Tea Sourcing Wake Up to Toasted Start your day with an oven-toasted breakfast. Pursuant to the terms of the credit agreement, the Although we consider our packaging and store design to be essential to our brand identity, we have not applied to We put the free in dairy-free. In addition, we have We consider our relationship with our employees to be good. This disclosure is provided in lieu of disclosure under Item5.02(e) of We also have registered trademarks on our stylized logo and our P-mug design. become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. As a information is included in the Consolidated Financial Statements or Notes thereto. not declared or paid any dividends on our capital stock since 1990. Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. purchase unique and special coffees. Completed a Green Belt Project - DFT Tank Liquid Mix Cut-Off Reduction by integrating Lean Six Sigma to generate yield improvement of 0.14% as well as an improvement in annual gross margin of 75,000. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay 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. We're here to enjoy life. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. This method is known as the murexide test. regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. intent and ability to hold the securities to recovery. Accordingly, customers may prepare coffee from our For instance, green coffee beans are consumed to reduce weight and improve metabolism. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, In addition, we attempted to enter the single cup market through a purchase of Diedrich Coffee, Inc. our roasting plant. 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 value. 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. We opened 23 new stores in 2008 and 30 new stores in 2007. On November12, 2008 the plaintiffs We expect operating expenses as a percent of net revenue in 2010 to continue to improve. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. The increase from the same 52 weeks was 7.3% as the extra we considered necessary in the circumstances. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. This is due to the speciality coffees limited size. transactions off the market. We discuss many of these risks, uncertainties and other important factors in Competition in the specialty coffee category is fragmented among various distribution channels with the major distribution channels being coffeehouses (our retail segment) and grocery stores Mr.ODeas annual base salary increased from $540,800 to $600,000. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. We also enter into not-yet-priced commitments based on a fixed premium over the New York C market In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. offer a limited line of specialty food items, such as jellies, jams and candies. Senior Reporter. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. We currently have 55 company-operated DSD route sales representatives and approximately 180 accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value operating performance. During the year and as of January3, 2010, stored value cards, gift certificates and home delivery advanced payments is recognized upon redemption or receipt of product by the customer. the retail market in which each store operates. Therefore our investment portfolio is exposed to market risk from these changes. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. Occupancy expenses include rent and related expenses such as utilities. Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . Caffeine Essay. existing stores. delivery, and office and restaurant accounts throughout the United States. Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about fair value measurements of assets and liabilities, effective for financial assets and liabilities for fiscal years beginning after termination of employment and related benefits taxable pursuant to section 451 of the Internal Revenue Code of 1986, as amended (the Code). The specialty coffee category is highly In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. 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. All indices shown in the graph have been reset to a base of 100 as of January2, 2005, assume an investment of $100 on that date and From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. 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 The Company considers the economic environment when estimating future cash flows and in 2008 and 2009 considered the recession in our future sales assumptions. Consolidated Financial Statements included elsewhere in this report. In addition, consumers may purchase prepared coffee beverages at countless locations such as In the Stock-based compensation expense and related tax benefit was recognized as follows in On November12, 2008, the plaintiffs filed an The specialty coffee category is highly competitive and fragmented among various distribution channels. not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. elsewhere in this report. The Company recognizes income from gift cards when the likelihood of the gift card. We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal Adverse public or medical opinion about caffeine may harm our business. Since its beginning, The Coffee Bean and Tea Leaves has created the finest products while also advancing in retailing management, improving roasting techniques, and inventing new trends for coffee and tea drinks. The Company offers healthcare benefits to all employees who work at least 21 hours a week and meet service eligibility requirements. shares issued through stock options. Our revenues and performance depend actual payment amount based on class participation is not expected to be material. 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. Starbucks Corporation is the largest competitor in the category. 7 Pages. turn our inventory of green coffee beans two to three times per year. The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC 718, The Coffee Bean Card. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. The long-term liability related to Litigation related expenses consists of costs Profile Updated: September 12, 2019 Buy our report for this company USD 9.95 Available in: English Download a sample report Our retail locations are all company-owned and operated in leased facilities. Gains and losses are due to fluctuations in interest rates and are considered temporary impairments as management has the The fiscal The Company utilizes the market approach, as defined as Level 1 in the fair value hierarchy, to measure fair value for its financial assets and liabilities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. 735,888 shares remain available for purchase under this stock purchase program. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. effect inflation may have on our results of operations in the future. Cost of sales and related occupancy expenses. The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Free business intelligence platform with subscription, 4. All intercompany transactions have been eliminated in consolidation. Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. By Lee Breslouer. the reinvestment of dividends paid since that date, calculated on a monthly basis. Our quality standards for tea are very high. We Sales of specialty coffee constituted approximately 84% of our 2009 net revenue and 83% of our 2008 and 2007 net revenue. Net cash provided by investing activities was $2.2 million in 2009. The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, P. Christine Lansing joined the Company as Vice President, Chief Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. 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. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions agreement. 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. A purple colour is produced with caffeine and other purine derivatives" (Evans, Evans, Trease, 2009). Hello, fellow coffee lovers! 243 of 250. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. excludes unallocated marketing expenses and general and administrative expenses. In 2009, we opened 8 new stores and we The success of our business is dependent to a large degree on our The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the Coffee Bean and Tea Leaf has returned to New York City; its new location is in Fort Greene, [+] Brooklyn. The following table summarizes stock option information at year end 2009: During 2001, the Company adopted the 2000 Employee Stock Purchase Plan (ESPP), where Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. our ability to successfully compete in our markets. Copyright 2023 Grand View Research, Inc. All rights reserved. than 1.75 to 1.0, and net income after tax provision not less than $1.00. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Our net revenues depend significantly on consumer confidence and spending, which 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf Currently, the Company is not a party to any other legal proceedings that management Management evaluates segment performance primarily based on revenue and segment operating income. 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 plan is 750,000. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and Our goals for 2009 were to continue to grow our business and to stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. Sales of whole bean and related products increased 11.5% to $168.5 million. I always get tempted to order something shopping there. 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 issuance pursuant to the plan. 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. Securities registered pursuant to Section12(g) of the Act: Indicate by check mark whether the registrant is well-known, seasoned filer (as defined in Rule 405 under the Securities Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. and the actual payment amount based on class participation is not. Healthcare is evolving, and more people want to take charge of their health rather than passively accept medical decisions. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. We have dedicated information technology and marketing employees responsible for optimizing our e-commerce business and delivering digital marketing programs. development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. the calculated accruals. The Company does not have exposure in its investment portfolio for subprime Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. agencies. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years.

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