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We believe that maintaining and developing our brand is critical to our success and that the importance of brand recognition may increase as ShareBasic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Do you want to learn about more successful companies SWOT analyses? information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. year ends on the Sunday closest to the last day of December. Act). Operating leasesCertain of the Companys lease In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& Elegantly Designed considers the economic environment when estimating future cash flows and in 2009 and 2008 considered the recession in our future sales assumptions. 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). In the specialty sales segment, net revenue increased 13.4% compared to 2008, or 11.4% without the 53 By Arra B. Francia. acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. As of March1, National Association, the proceeds of which may be used in the general course of business, including to fund working capital, capital expenditures, share repurchases and other needs of the Company. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. A number of research studies conclude or suggest that excessive consumption of caffeine may lead to increased heart rate, nausea and vomiting, restlessness and anxiety, depression, headaches, tremors, sleeplessness and other adverse See page F-2 of the consolidated financial statements. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. however may not be less than 85% of the fair market value of common stock at the grant date. Cost of sales and related occupancy expenses. 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 Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. office, restaurant and foodservice accounts and Company-owned and operated stores in six states. Jul 2020 - Dec 20206 months. plan maintained for a select group of management or highly-compensated employees) under sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974 (ERISA). Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. specific identification method. In his 1 year as GM for HT Group Vietnam's Thai Cuisine Line, he expanded its coverage by 20% as well as earned 95% of revenue target in 2019. Adverse public or medical opinion about caffeine may harm our business. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Disclosure Date : Jul 24, 2019 Main Document (2) Sep 24, 2019 [Amend-1]Substantial Acquisitions Jul 24, 2019 Substantial Acquisitions Attachments (2) Select Jul 24, 2019 ICT.2018.Audited Financial Statements.pdf Jul 24, 2019 JFC.17C.JFC to Invest US$100M for the Acquisition of the Coffee Bean & Tea Leaf.07242019.pdf 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). 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 These types of claims could divert our managements time and attention from our business operations and might 2. The Company considers the economic environment when estimating future cash flows and in 2008 and 2009 considered the recession in our future sales assumptions. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf Despite revenue growth that was less than our expectations, we 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 this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain markets for identical assets or liabilities. December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Commission (SEC). transaction. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of We are active in seeking, roasting and selling unique special lot and one-time coffees. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. The aggregate intrinsic value in the table below is may be able to duplicate them, which could harm our competitive position. and related notes and Managements Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this report. It is classified as operating in the Specialty Food Stores industry. The credit agreement contains customary affirmative and negative covenants, including a The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period Since future events and their impact cannot Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes There were no purchases made by us or any affiliated purchaser as defined in Rule The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Coffee lovers rejoice! Our roasting method was first developed by Alfred Peet and further honed by our talented and skilled roasting personnel. Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered. . The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share Cash flows for retail net assets are identified at the individual store level. 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. Based on the foregoing, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period Accrued workers compensation. 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. eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. The specialty coffee category is highly the calculated accruals. Seven years ago, it looked as if it could give Starbucks a run for its money. disclose the nature of the amendment or waiver on its website. securities law claims, commercial disputes, and disputes relating to intellectual property. An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. General and administrative expenses in People can order ahead and the order is ready to be picked up, Vavra notes. See Note 13, Commitments and Contingencies for further discussion. 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. Adverse publicity resulting from such allegations may materially adversely affect us, regardless of whether such allegations are true or whether we are ultimately held liable. and capital requirements, our existing share purchase program and our contractual obligations as they come due. statements and the reported amounts of revenues and expenses during the reporting period. The Coffee Bean & Tea Leaf's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile 2,107 Followers on Owler Overview Competitors Funding News & Insights President & CEO John Fuller CEO Approval Rating 90/100 Weigh In 1963 Los Angeles California Los Angeles Metropolitan Area This button displays the currently selected search type. 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. The Company closed 4 Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. 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. Some of the major players in the market areKicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illy caff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. other product costs. Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 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 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. 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. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. November15, 2007. 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. and the other financial data included elsewhere in this report. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated See Note 2. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. Growing demand for coffee vending machines at railway stations, airports, offices, and other places and increasing demand from the working population are anticipated to make a reasonable contribution to the market revenue. On October27, 2008, development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. If our brand building initiative is unsuccessful, we may never Management evaluates segment performance primarily based on revenue and segment operating income. The lease agreements also provide for periodic adjustments to the minimum lease payments based on changes in cost of living indices or other scheduled increases. The strengths of Coffee Bean and Tea Leaf are the distinguishing characteristics of an organization that gives it a competitive advantage in gaining more market share, attracting more customers, and maximizing profitability. had approximately $37.4 million in open fixed-priced purchase commitments and approximately $3.5 million in not-yet-priced commitments for a total of approximately $40.9 million with delivery References to we, us, our, Peets, The Federal government and the state of California are the Companys only significant tax jurisdictions. including coupon redemptions and rebates. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. Our roasted coffee that is sold to the end consumer is priced in tiers. Kapolei, HI. P. Christine Lansing joined the Company as Vice President, Chief in 2009, 2008 and 2007, respectively. Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. Fair Value MeasurementsThe accounting guidance for fair value measurements and disclosure defines and establishes a framework for measuring fair value and expands related disclosures. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, 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. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. The Companys common stock is traded on the Nasdaq National Market under the symbol PEET. Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. OUR STORY. assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense More than 60% of coffee cultivation is arabica, where Brazil is one of the leading producers in the world. position or results of operations of the Company. We believe that our specialty sales can expand to geographies Our ability to implement this business strategy depends on our ability to: market our products on a national scale and over the internet; enter into distribution and other strategic arrangements with third party retailers and other potential distributors of our coffee; increase our brand recognition on a national scale; identify and lease strategic locations suitable for new stores; and. data). In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and Commission. We expect the specialty coffee industry to continue to grow. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for The number of cafes is expected to increase in the coming years, which is expected to fuel demand for robusta and arabica beans over the forecast period. transactions and dispositions of the assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles changes in equity during the period, except those resulting from transactions with shareholders of the Company. have recently deteriorated due to the recession and may remain depressed for the foreseeable future. At December28, Some Alternates fit, except 'e' that don't match. Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. We believe that this growth will be fueled by continued consumer interest In the coffeehouse business, Starbucks is our primary competition, but we also compete with July 25, 2019 | 12:32 am. As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. 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. adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. The We do not expect our unrecognized tax benefits to change significantly over the next 12 months. 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. Peets.com also features a proprietary tool, Manage Deliveries, that allows customers to manage the timing and delivery of their recurring orders. intent and ability to hold the securities to recovery. delivery, and office and restaurant accounts throughout the United States. 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. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. The related asset is classified in cash We invest in U.S. government, agency, municipal and guaranteed student loan obligations. 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. Starbucks In either case, our business and operations could be adversely affected. If customer demand for specialty coffee decreases, our sales would decrease accordingly.