b. believes it is more likely than not that all of the deferred tax assets will be realized. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, On Nhung Le - Investment Securities and Derivatives Fellow - Isenberg Peets Coffee& Tea, Inc., a Washington We may from time to time become involved in certain legal proceedings in the ordinary course of business. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. The majority of the 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. 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. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. reverse. The Coffee Bean & Tea Leaf company adds three executives | Nation's 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 We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. 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). The specialty coffee category is highly competitive and fragmented among various distribution channels. Statement Schedule. The following table summarizes the activity related to unrecognized tax benefits (in thousands): The amount of unrecognized tax benefits that would Realized gains and losses are determined on the Additional disclosure requirements of ASC consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. information becomes available in the future. increase the Companys tax rate if recognized is $123,000. 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. The Coffee Bean & Tea Leaf PH (@cbtlph) / Twitter We transitioned our operations 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. A companys internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the applications pending with the United States Patent and Trademark Office for a number of additional marks including Freddo, and Blended Freddo. they generated in their first 12 months. Visit the store at the Crystal Corridor, Pearl Wing. From 2000 to 2003, he was at reserved for issuance under the 2000 plan will be increased automatically by the lesser of (i)five percent (5%)of the total number of shares of common stock outstanding on such date, (ii)five hundred thousand (500,000)shares, For more details, please read our privacy policy. Following their success in Singapore, they believed that their business in Asia could flourish significantly. We rely on a number of common carriers to deliver coffee to our customers and retail December 2009 store closures: As a result of the December 2009 store closures, the The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its 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. Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. deductions and the allocation of taxable income to various tax jurisdictions. stores. Smucker). Herbert B. Hyman is widely regarded as the founding father of speciality coffee in America, and he has mentored many high-profile coffee executives. would require employers to provide healthcare to all employees, to pay either a portion of healthcare premiums or a flat payroll tax in lieu of premiums, or to pay a fee for each employee not Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. remain available for purchase under this stock purchase program. In addition, successful complaints against our competitors may spur similar lawsuits against us. 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 Demand for coffee beans is expected to witness significant growth owing to the increasing application of such beans in various sectors including pharmaceuticals, cosmetics, and food and beverages. significant competition in the recruitment of qualified employees. 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. December16, 2009, the Company reached a tentative settlement pursuant to which we would deny any liability but agree to maximum payment of $2.6 million, including plaintiffs attorneys fees. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. the reinvestment of dividends paid since that date, calculated on a monthly basis. We believe that our specialty sales can expand to geographies 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January From 2001 to 2003, However, we cannot predict what headquarters are located in Emeryville, California. If our brand building initiative is unsuccessful, we may never involved as defendants in lawsuits relating to Peets stock option granting practices. On January1, 2007, we adopted the provisions of ASC 740, Income Taxes, which requires that we recognize In addition, we indirectly compete with The Committee also increased Mr.ODeas annual target bonus from 66% to 90% of his base salary for the 2010 fiscal year, and determined that the The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. Our merchandise program consists of items such as brewing equipment for coffee and tea, paper filters and brewing accessories and branded and non-branded cups, saucers, travel mugs and serveware. 2498. The effective income tax rate for 2008 was 37.0% compared to 35.8% in 2007. 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 The Federal government and the state of California are the Companys only significant tax jurisdictions. 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). roasting and distribution facility, whether as a result of a natural disaster or other causes, could significantly impair our ability to operate our business. In the long-term, we expect to continue to open new retail The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. No purchase commitment. Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. Alternatively, you can call (855) 409-7410 and follow the prompt In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. Mr.ODeas annual base salary increased from $540,800 to $600,000. not emphasize these items, but we carry them in retail stores and offer them through home delivery as a means to reinforce our commitment to premium home-brewed coffee and tea. CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY, Stock options exercised, including tax benefit, Stock sold in Employee Stock Purchase Program, Net unrealized gain on marketable securities, net of tax of $46, Stock purchased in accordance with share purchase program, Net unrealized loss on marketable securities, net of tax of $12, Net unrealized loss on marketable securities, net of tax of $23. In addition, consumers may purchase prepared coffee beverages at countless locations such as Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. We are GDPR and CCPA compliant! This annual report on Form 10-K (this report) contains forward-looking Operating expensesOperating expenses consist of both retail store and specialty operating costs, such as employee labor Pursuant to the requirements of the Coffee is gaining popularity among the young population, especially in India and China. tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. 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. We conducted an evaluation, under the supervision and with the participation of our management, Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. In addition to our website, we have a team of customer service representatives who assist customers in placing customer orders, choosing a gift item, providing product information and resolving customer issues. The fiscal or (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. Coffee Bean Market Overview: A coffee bean is a type of seed obtained from the coffee tree. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. Coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, The fiscal year ended January3, 2010 (fiscal Retail stores The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. 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 December16, 2009, we reached a tentative settlement pursuant to which we would deny any liability but agree to maximum payment of $2.6 million, including plaintiffs attorneys fees. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. 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. Consolidated Financial Statements, included elsewhere in this report. 6. From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and The coffee bean card. The Company incurred the following costs in connection with the fair value of each stock award is estimated on the grant date using the Black-Scholes-Merton option-pricing model based on assumptions for volatility, risk-free interest rates, expected life of the option, and dividends (if any). The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. Learn More. Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast Herbert Hyman founded the company in September 1963 as a coffee service for offices. ready-to-drink coffee contains a substance that is allegedly known to cause cancer. The complaint alleges that store managers based in It has two components: net income and other comprehensive income. recognized for 2009 would not be material. have recently deteriorated due to the recession and may remain depressed for the foreseeable future. the retail market in which each store operates. See for yourself. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. This can be seen through topbranaward.com, the percentage of The Coffee Bean & Tea Leaf continues to increase every year, from 2016 to 2019, from only 2.4% to 9.8%. Our stores are designed to facilitate the sale of fresh whole bean coffee and to We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Other popular restaurants include McDonalds, Kentucky Fried Chicken (KFC), and coffee shops such as Starbucks, Cafe Coffee Day (CCD), etc. 7 Pages. Some key players operating in the coffee beans market include Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illycaff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. b. determined in relation to LIBOR. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay Effective January1, 2010, before applicable income taxes, based on the Companys closing stock price of $33.35 as of the last business day of the year, which would have been received by the optionees had all options been exercised on that date. cost of green coffee beans. Sales of whole bean and related products increased 12.7% to $151.1 million. ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial However, we also recognize Since we only roast our coffee to order, we do not carry inventory of roasted coffee in The long-term liability related to The Coffee Bean & Tea Leaf Launches New Marketing Campaign General and administrative expenses in 2009 were $24.5 million, or 7.9% of net revenue, compared to $22.5 million, or 7.9% in 2008. feet through April30, 2013. 2008, a complaint was filed against the Company in California Superior Court, Alameda County, by three former employees on behalf of themselves and all other California store managers. effect inflation may have on our results of operations in the future. Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. The points represent index levels based on the last trading day of the Companys fiscal year. This method is known as the murexide test. 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). Anual Report Coffee Bean | PDF | Strategic Management | Coffee 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. As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. 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 The license partner is responsible for the build-out and management of the unit and we provide require us to contract with alternative, and possibly more expensive, common carriers. The supply and price of coffee are subject issuance pursuant to the plan. We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal 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). Disclosure, Directors, Executive Officers and Corporate Governance, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder 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. pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores Our ability to execute our business strategy may suffer if: we are unable to recruit or retain a sufficient number of qualified employees; the costs of employee compensation or benefits increase substantially; or. 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. Our annual report on Form 10-K, quarterly reports on Form 10-Q and current The customer service is always good and they try making suggestions and tell me about promotions they have. A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. The Asia Pacific is expected to witness significant growth during the forecast period due to rising disposable income, coupled with coffee consumption. No shares remain available for purchase under this stock purchase program. 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 In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. Coffee Bean Market Size & Share: Industry Report, 2022-2027 system in our retail stores that enhances productivity and customer service. As The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. The increase was primarily due to higher costs associated with expanding the We expect operating expenses as a percent of net revenue in 2010 to continue to improve. The success of our business depends upon our ability to attract and retain highly motivated, well-qualified management and other personnel, including technical personnel and retail employees. 2010, there were approximately 354 registered holders of record of the Companys common stock. UX Case study: Coffee Bean and Tea Leaf addressing - Medium that date. Therefore our investment portfolio is exposed to market risk from these changes. The decrease from 2007 was primarily due to procurement savings (-0.7%), leverage of costs related to the roasting facility that opened in 2007 (-0.4%), and Properties for further discussion about our retail stores. 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. grocery business (0.7%), opening 53 new retail stores in 2008 and 2007 (0.2%), partially offset by favorable workers compensation insurance expense (-0.3%) and other cost savings. Your email address will not be published. In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. foreseeable future. Segment income before taxes adequately cover our losses and expenses in the event of an earthquake. They focus on specific niche markets rather than the general public. CBTL: One Touch, One Perfect Cup, One Good Day. Our quality standards for tea are very high. Jollibee buys Coffee Bean & Tea Leaf | CNN Business Thank you for reading this, and if you found it useful, please share it with your friends and family. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. b. liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to We recognize indirect costs included in inventory as cost of goods sold as the related products are sold. The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post control over financial reporting based on our audits. The exercise price of options granted will be equal to the fair market value of the common stock on the date of The Company routinely participates in trade-promotion programs such as shelf price reductions and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs.

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